On 19 December 2008, the president signed into law a comprehensive amendment to the Income Tax Law. The amendment was published in the Official Gazette on 1 January 2009. The further changes (or details) summarized below generally apply from 1 January 2009. The amendment does not change the other proposals (e.g. thin capitalization, withholding tax rate, personal income tax rate, cross-border donations, etc.) Corporate taxation (a) Participation exemption – capital gains. As previously reported, the scope of the participation exemption is extended to include capital gains derived by qualifying parent companies resident in other EU Member States. However, the proposed...