- Changes regarding collective agreements in the Labour Code
On the July 23, 2009, the Parliament of the Republic of Lithuania amended some of the provisions of the Labour Code pertaining to collective agreements. It is now possible to agree on different conditions of labour relations in the collective agreement compared to the ones set forth in the Labour Code (e.g. according to the Labour Code, the advance notice period for dismissal is 2 months, but it can be shortened to 1 month by the collective agreement; according to the Labour Code, an employer undertakes to make a full settlement of accounts with an employee being dismissed from the work on the day of his dismissal and to pay whole severance pay, the collective agreement can establish that if the severance pay is more than 5 monthly average wages it can be paid during 3 months after the dismissal). If the company does not have the collective agreement then all the provisions of the Labour Code shall be applied.
- Standards for Company documentation and shareholder meetings
According to the new revision of the Law on Companies, the Government is responsible for preparing of the standard Articles of Association and the standard Memorandum of Association. They are not prepared and approved by the Government yet. There are some changes in the Law on Companies. Most of them pertaining to the General meeting of shareholders and shareholders' rights (notice of the General meeting is shortened from 30 days till 21 days; shareholders have a right to vote when using electronic implements; few shareholders can authorize one person to vote in the General meeting on their behalf). The incomes that are not treated as benefit in kind from 1 January 2010: - a prize given to a person who wins a competition not exceeding 320 Lt (93 EUR) - medical services established by law - clothes for working purpose - training and teaching courses and materials - employer paid taxes on a benefit
Compulsory health insurance tax will not be calculated from other incomes (income from rent, distributed profits, sale of assets) that are subject to the personal income tax starting from 1 January 2010.
- Withholding tax on interest payments
Starting from January1, 2010, interest payments will not be liable to withholding tax if the interest is paid to entities registered in EEA member states and is fulfilling other requirements of council directive 2003/49/EC Article 3.
- Tighten up rules on cash operations
On July 26, 2009 Government approved that preparation of Report on received and used company cash by accountable persons in all entities is obligatory not less frequently than once per month | 
