The first thing that comes to mind when discussing the tax system in Bosnia and Herzegovina is the complexity of the regulations governing the practical implementation of tax laws. This complexity stems from constitutional provisions that regulate the jurisdiction of institutions at the level of Bosnia and Herzegovina, entities, or even cantonal authorities. Therefore, for a better understanding, it is essential to make a clear distinction between direct taxes (income of individuals, profit of legal entities, property) and indirect taxes (VAT, excise taxes).
Schoenherr Advises RBI on EUR 31 Million Financing for 60-Megawatt Solar Plant in Bosnia and Herzegovina
Schoenherr, working with Walder Wyss and the Law Office of Loren Richards, has advised Raiffeisen Bank International on its EUR 31 million project financing to borrower Energy Financing Team SE Bileca to develop a 60-megawatt solar power plant in Republika Srpska, Bosnia and Herzegovina.
Bosnia and Herzegovina: Signing of Management Contracts in Practice
The need for management contracts arises when an employer needs to arrange for a relationship beyond that of one with a simple employee – one with an individual performing managerial or supervisory tasks. Therefore, the relevant labor laws (in the Federation of Bosnia & Herzegovina, Republika Srpska, and Brcko District of Bosnia & Herzegovina) introduce management contracts that offer an alternative for the employer to conclude an agreement with a manager without establishing actual employment. The aim is for a more flexible arrangement of said business relationship or established employment which is absolutely subject to the provisions of the relevant labor laws.
Energy Law of Bosnia and Herzegovina – Connection with the EU, Investment Protection, and Transparency and Simplicity in Obtaining Permits for Renewable Energy Projects
Bosnia and Herzegovina (B&H) is located in the so-called "Western Balkans" region, borders the EU, and has an area of 51,209 km2. Its highly favorable geographical location for harnessing energy potentials has positioned B&H as the only country in the surrounding area with a significant surplus in exporting electrical energy. The water potential is represented by a large number of rivers suitable for building hydroelectric power plants, and substantial potential exists in the areas of wind energy (due to the position of the Dinaric mountain range) and solar energy (averaging over 2000 sunny hours per year).
Karanovic & Partners Supports Burger King Franchise on Bosnia and Herzegovina Market Entry
Karanovic & Partners has advised Burger King on entering the market of Bosnia and Herzegovina and the opening of its first restaurant in Sarajevo.
Bosnia and Herzegovina Investment Guide Series – Foreign Investments
In accordance with the Law on Foreign Direct Investment Policy in Bosnia and Herzegovina, foreign investors are guaranteed the following:
Significant Shift in Bosnia & Herzegovina's Governance: A Buzz Interview with Mia Civic of ODI Law
Bosnia & Herzegovina has experienced a major government change leading to a focus on aligning with the EU, while a significant human rights ruling challenges the country’s ethnic-based voting system – potentially triggering constitutional reform and reshaping its political landscape – according to ODI Law Partner Mia Civic.
Rocking the Bosnia & Herzegovina Boat: A Buzz Interview with Nina Vjestica of Dimitrijevic & Partners
Critical legislative occurrences in Bosnia & Herzegovina – primarily focusing on the Constitutional Court, the electricity sector, as well as e-money – are the talk of the town, according to Dimitrijevic & Partners Partner Nina Vjestica.
Bosnia and Herzegovina Investment Guide Series – Taxes in Bosnia and Herzegovina
A brief overview of value added tax and direct tax in Bosnia and Herzegovina, including specifics for direct tax in Federation of B&H, Republic of Srpska, and Brcko District of Bosnia and Herzegovina.
Bosnia and Herzegovina: Investing in B&H from the Banking & Finance Perspective
The banking system of Bosnia and Herzegovina incorporates the Central Bank of Bosnia and Herzegovina, commercial banks, and other financial institutions. The Central Bank defines and controls the implementation of the monetary policy of Bosnia and Herzegovina, and assists and maintains appropriate payment and accounting systems. It also coordinates the activities of the banking agencies of the B&H entities (hereinafter: regulators), which are responsible for issuing licenses for the operation and supervision of banks.
Tech Sector Focus: The Growing Impact of the ESG-Driven Data Race
With ESG gradually coming into focus, companies, industries, and whole countries are looking to the TMT sector for guidance. CMS Ukraine Partner Olga Belyakova and CMS Bosnia and Herzegovina Counsel Sanja Voloder share their insights.
Bosnia and Herzegovina: Key Dilemmas To Solve when Buying Real Estate
In the complex administrative apparatus and historical diversity of Bosnia and Herzegovina, a complex system of Real Estate Registries was developed. What does a buyer need to know in order to protect themselves from the risks that can arise in the purchase of real estate?
Two Steps Forward, One Step Back in Bosnia & Herzegovina: A Buzz Interview with Nikolina Bajic of BDK Advokati
Legislative updates across the board in Bosnia & Herzegovina – with talks of criminalizing defamation, introducing electronic money, and overhauling the renewable energy framework – keep lawyers talking, according to Nikolina Bajic, Attorney at Law in cooperation with BDK Advokati.
Banking & Finance in Bosnia & Herzegovina
Contributed by ODI Law.
Did You Know: Logjam Atop 2023 Leaderboard in Bosnia & Herzegovina
Did You Know that a total of 11 law firm partners have worked on client matters reported by CEE Legal Matters in Bosnia & Herzegovina this year – though none has, as yet, worked on more than one?
ESG Trends in the Western Balkans
Despite entering the corporate lexicon back in 2004, the concept of ESG (Environmental, Social, Governance) remained relatively obscure for over a decade. However, with the intensification of discussions around global warming, ESG has become a significant part of the conversation and a focal point for today's companies.
Cizmovic and Schoenherr Successful for UniCredit Bank Banja Luka in Dispute with Bitminer Factory
The Cizmovic law firm and Moravcevic, Vojnovic, and Partners in cooperation with Schoenherr have successfully represented UniCredit Bank Banja Luka in a dispute with Bitminer Factory, leading to the overturning of a EUR 131 million first instance judgment. Reportedly, the Vila law firm is representing UniCredit Bank Banja Luka in relation to the criminal charges that the bank filed against Bitminer Factory.
Amendments to the Public Procurement Law
After 5 years of drafting and procedural manoeuvres, the Parliament of Bosnia and Herzegovina finally adopted last year amendments to the Public Procurement Law.