On 12 June 2012, the Ministry of Finance presented draft amendments to the Income Tax Law (the Law), which are mainly aimed at eliminating the discriminatory tax rules for non-resident investment funds. If adopted by the parliament, the amendments will enter into force on 1 January 2013. The details of the major amendments are summarized below. Elimination of discrimination against non-resident investment funds In 2011, the European Commission had requested Estonia to amend its discriminatory tax provisions as regards non-resident investment funds. The difference in treatment only affects contractual (open-ended) funds, which do not have legal personality. Moreover, the discrimination...