Lower House adopts economic stimulus package

On 4 June 2009, the Lower House adopted the economic stimilus package. Unless indicated otherwise, it is intended that all measures apply from 1 July 2009. The Bill, amongst others, provides for a reduction of the corporate income tax rate in the second tax bracket (i.e. for profits between EUR 40,000 and EUR 200,000) for small and medium-sized companies to 20% for the years 2009 and 2010; currently, the rate is 23.5%.