Law of the Republic of Lithuania No X- 1304 of 25 October 2007 Amending Article 12 of the Law on Corporate Income Tax of the Republic of Lithuania (Official Gazette (Valstybės Žinios), No 117 – 4773).

      Subsequent to an amendment of 25 October 2007 to the Law on Undertakings of Collective Investment (Official Gazette, No. 117- 4772), Paragraph 5 of article 12 of the Law on Corporate Income Tax was amended providing that corporate Income Tax shall not be imposed not only on the investment income of the investment companies with variable capital operating in accordance with the Law on Undertakings of Collective Investment, but also on the investment income of investment companies of closed type operating in accordance with the same Law (Paragraph 5 Article 12).

      The Law comes into force on 1 May 2008.

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      Order of the Head of the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania No VA-70 of 9 November 2007 On the Approval of the Annual Corporate Income Tax Return Form PLN205 and the Rules for Its Completion (Official Gazette (Valstybės Žinios), No 119 – 4874).

      Pursuant to the Law of 3 May 2007 Amending Articles 2, 4, 7, 11, 12, 18, 19, 26, 31, 43, 50, 51, 53, 58 and Appendix 1 of the Law on Corporate Income Tax and Supplementing It with Articles 38(1), 38(2) , the taxation of income from carriage by sea and directly related operations was established. The established that the procedure for the taxation of the above income shall be applied from the tax period that started in 2007.

      Pursuant to Paragraph 6 Article 50 of the Corporate Income Tax of the Republic of Lithuania (Official Gazette, 2001, No 110- 3992; 2004, No 25-748) and Paragraphs 17 and 18.11 of the Statute of the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania, the following was approved and attached:

      1. Forms for the annual fixed tax return PLN205 and its additional sheet;

      2. Rules for the completion of the annual fixed tax return PLN205 and its additional sheet.

      The return form and the rules for its completion are applied inclusively from the tax period starting in 2007.