Lithuania: M&A/Private Equity

The Republic of Lithuania is the largest of the three Baltic States with a territory of 65,300 sq. km (around 25,200 sq. miles).

The first legislation establishing merger control in Lithuania was the 1992 Law on Competition.

With respect to the provisions of a EU Directive 2005/19/EC of 17 February 2005 amending Directive 90/434/EEC 1990 on the common system of taxation applicable to mergers, divisions, transfers of assets and exchanges of shares concerning companies of different Member States, the Corporate Tax Law will be amended, proposing that it shall enter into force from 1 January 2006 and be applicable for calculating taxable profit for the year 2006. Key points of the proposals: