The Lithuanian e-commerce framework is not based on the adoption of specific laws, but rather finds its origins in the general norms of private law, consumer protection law, data protection law,

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:

More and more often Lithuanian companies face with a problem as to how to attract and retain qualified employees. In order to compete successfully with foreign employers, Lithuanian companies will not merely have to offer their employees competitive remuneration, but make active use of other incentives. One of the most widely used incentives for employees, which could be used by Lithuanian companies, is <U>employee stock options.

Corporate mergers, consolidations, acquisitions and divisions recently have become quite often in Lithuania, therefore their tax implications should be carefully considered and effectively applied in line with the rules of Lithuanian tax legislation.