On 20 May 2010, the parliament adopted Law No. 2275 amending the Corporate Income Tax Law. The amendments apply from 1 July 2010, unless otherwise indicated below. The amendments are aimed at increasing fiscal revenue and include the following measures: (a) Losses. During 2010 fiscal year, taxpayers are allowed to deduct not more than 20% of the tax losses accumulated on 1 January 2010. The remaining amount may be carried forward to 2011. Previously, tax losses could be deducted without limitations. However, it is expected that these restrictions may soon be repealed, pursuant to the draft legislation already submitted to...