On 31 October 2019, the parliament proposed a Bill (No. XIIIP-4116) to amend the Corporate Income Tax Law (CITL). The proposal includes the following measures:
- The taxable profit of a Lithuanian entities and a Lithuanian permanent establishment of a non-resident entities taxed at a tax rate of 20% (currently 15%);
- Tax rate increased from 15% to 20% for sponsorship earnings used for purposes other than those defined in the Charity and Sponsorship Act, as well as sponsorship earnings paid in cash by a single donor and exceeding 250 monthly minimum salaries; and
- Income from distributed profit is also taxed at the rate of 20%.
If the bill approved by Parliament, the changes will take effect on 1 January 2020.
