On 1 June 2007, the Ministry of Taxation announced that the revised bill amending the Corporate Income Tax Act was enacted by the parliament). The most significant changes are: -   the corporate tax rate is reduced from 28% to 25%; -   the CFC regime is adjusted to be compliant with EC law following the judgment of the European Court of Justice (ECJ) in the case of Cadbury Schweppes (C-196/04); -   a ceiling for interest deduction is introduced; -   the tax depreciation of long-life assets is tightened; and -   the taxation of dividends is amended The...