On 21 August 2007, the tax law amendments, which are a part of a comprehensive public finance and tax reform, was approved at the 3rd reading in the lower chamber of the parliament. To become law, the revised Bill must be approved by the upper chamber of the parliament (Senate) and signed by the president. The further changes (or details) summarized below were approved by the lower chamber and would generally apply from 1 January 2008. The revised Bill makes several changes to the proposals. The revised Bill does not change the other proposals previously reported (e.g. corporate tax rates,...