Tax

North Macedonia's New Law of Solidarity Sets Dangerous Precedent with Unconstitutional Retroactive Effect

The government of Republic of North Macedonia recently introduced a new tax law for solidarity, in an effort to address the consequences of the crisis. In response to the difficult economic and energy crisis faced by vulnerable citizens, as well as companies that have experienced significant increases in revenue as a result of the crisis, the government has implemented a series of measures including subsidies, social protection, tax exemptions, and financial support for domestic energy companies.

Definition of Capital Commitments and its Effects on Taxation in the Event of Failure to Pay the Capital on Due Date

Commercial companies need capital to execute its business activities. Thus, paying the capital is regarded as the fundamental obligation of partners. In accordance with this, partners who do not pay their capital share on due date will be held liable accordingly to the private law in the context of TCC.
In addition to this, it is seen that this breach is sometimes interpreted as distribution of disguised profit through transfer pricing in the context of Corporate Tax Code (“CTC”).

Extraordinary Tax For Energy Producers

The Albanian Government is considering to impose an extraordinary payment for energy companies with regard to the profits that they have been realized due to the spike of energy prices caused by the ongoing war in Ukraine.

CSRD – General Outline of New Requirements in the Area of Governance

The Corporate Sustainability Reporting Directive (CSRD) took effect on 5 January 2023. This directive amends the Non-Financial Reporting Directive of 2014 (NFRD) and introduces more detailed requirements for non-financial reporting in the area of ESG.

Sebastian Drumaru Makes Partner at PBC Attorneys-at-Law

Former Managing Senior Associate Sebastian Drumaru has been promoted to Partner at Pop Briciu Crai Attorneys-at-Law in Bucharest.

Schoenherr Appoints Four New Partners and Five Local Partners Across CEE

Klara Kiehl, Clemens Rainer, Sascha Schulz, and Marco Thorbauer have been appointed as Schoenherr Partners in Austria, while Serbia's Jelena Arsic, Jovan Barovic, and Dusan Obradovic, Bulgaria's Tsvetan Krumov, and Hungary's Laszlo Krupl have all been appointed as Local Partners with the firm.

Dentons Successful for Porsche Inter Auto Polska Before Supreme Administrative Court

Dentons has successfully represented the interests of Porsche Inter Auto Polska in multiple cases concerning excise taxation on intra-community acquisitions of passenger cars before the Provincial Administrative Court in Warsaw and the Supreme Administrative Court.