Multi-Jurisdictional Business Jet Sales Transactions
20 May 2026
The law firm acted as lead advisor in the multi-jurisdictional transaction involving the Bombardier Global XRS business jet
Tax Legislation
23 Dec 2013
On the 27th June 2013, the Parliament of the Republic of Lithuania adopted the law No. XII – 427, amending and supplementing Articles 2, 5, 6, 16, 17, 19, 20, and 22 of the Law on Income Tax of Individuals. One of the most important changes is that starting from 1 January 2014 the 15% rate of income tax shall be applied in respect of income from dividends and other distributed profit (the current 20% rate shall be applied when assessing the income from distributed profit received in 2013 and earlier).
Furthermore, on 12 December 2013 the Parliament of the Republic of Lithuania adopted the Law No. XII-663, supplementing part 1 of Article 7 of the Law on Income Tax of Individuals and establishing that (save for certain exceptions prescribed in the law) interest on the non-property securities shall not be subject to personal income tax if they were acquired before 31 December 2013 and the redemption of such securities commences not earlier than 366 days after the date of the issue of those securities. If this law will be signed by the President of the Republic of Lithuania and will come into force, the interest of individuals from securities acquired on or prior to 31 December 2013 shall not be taxed by the income tax thereafter.
The law No. XII – 427 as of 27th June 2013 can be found here.
The law No XII-663 as of 12 December can be found here.
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