Lithuania published Law XIV-726 in the Official Gazette on 15 December 2021, including amendments to the Law on Corporate Income Tax (IX-675). One of the main amendments concerns the additional corporate tax on banks and credit unions. The additional 5% corporate tax, (20% effective rate considering the standard 15% rate), was introduced on temporary basis on profits of banks and credit unions exceeding EUR 2 million for 2020, 2021, and 2022. Law XIV-726 amends the provisions for the additional tax to clarify its application effective 1 July 2022 and also makes the additional tax permanent, providing that it applies in...