Although Lithuania cannot boast rich oil resources lying beneath its territory, a number of large oil industry facilities are successfully operating in the country. This suggests that Lithuania has sufficient technical capacity to import oil and petroleum products from various countries, as well as diverse and technically ensured possibilities of supplying petroleum products. Moreover, the country has secured the required amount of petroleum product state reserves, which affords protection against disruptions in their supply.
A New Decade for Montenegro’s Energy Sector
Change is brewing in Montenegro. The country finds itself exposed to both unprecedented internal and external factors, turning the gears and taking Montenegro in an uncharted direction. The COVID-19 pandemic has, for the last eighteen months, been putting pressure on economies, health systems, and the people themselves, forcing humanity to combat a deadly adversary through measures unseen in modern history. Montenegro was no exception and had to adjust to the new situation adopting preventive measures in order to mitigate the negative effects of the pandemic. An external factor, the virus, was not the only thing that shook things up for the Montenegrin people. There has been a large upset in the political scene, with the parliamentary election being narrowly won by the opposition, removing the Democratic Party of Socialists from power. The new government is faced with many challenges, including continuing the development of the energy sector through innovative and appropriate legislative, regulatory, and strategic action.
International Franchise Handbook: Focus on Latvia
Franchising may be an attractive proposition for many companies wishing to expand internationally. Take a look at this overview to discover the applicable franchise law in Latvia, covering the essentials for franchisors, the relevant areas of law, selected aspects such as fees, and dispute resolution and applicable law.
Europe’s Top Court Holds That Damages Arising from a Parent Company’s Infringement of European Competition Law Can Also Be Claimed Against Its Subsidiary
On October 6, 2021, the Grand Chamber of the of the Court of Justice of the European Union (CJEU) delivered its decision in Case C-882/19 Sumal SL v Mercedes Benz Trucks España, clarifying certain issues related to the imputability of anticompetitive conduct within a group of companies and the related private law consequences.
EU Approves Regional Aid Map for Hungary for 2022-2027
The regional aid map is a legal provision that sets the maximum amount of state aid that can be granted as investment aid to companies investing in certain regions of the country, or in the case of developed regions, smaller territorial units.
A New Era in Environment and Climate Policies: Turkey is Now a Party to the Paris Climate Agreement
The Turkish Government, in its statement at the United Nations General Assembly, had given signals beforehand that it would submit the Paris Climate Agreement [“Paris Agreement” or “Agreement”], for parliamentary approval which it signed on April 22, 2016. Following his statement, the Agreement entered into force with the Law on Approval of the Paris Agreement and the Presidential Decision, both published on the same day, on 7.10.2021 in the Official Gazette. Please see our previous article about the content and purpose of the Paris Agreement.
Tax-free Minimum Wage
A bill to exempt the minimum wage from personal income tax in order to reduce the tax burden on low wages was submitted to the Hungarian Parliament on 20 September 2021. The proposal aims to amend the Personal Income Tax Act. According to the preamble of the bill, the exemption is necessary, since the income of minimum wage earners is increasingly falling behind average earnings and the total tax burden on wages is one of the highest in Europe.
Employee’s Right to Defence – Is an Employer Obliged to Enclose Evidence to the Warning on Existence of Reasons for Termination of Employment Agreement?
The Labour Law (“Official Gazette of RS”, no. 24/2005, 61/2005, 54/2009, 32/2013, 75/2014, 13/2017 – decision of the CC, 113/2017 and 95/2018 – authentic interpretation) (the “Law”) prescribes that employer shall be obliged, prior to the termination of employment agreement due to violation of working obligation or working discipline, to notify the employee in writing on the existence of reasons for such termination, as well as to provide the employee with a period of minimum eight days from the warning submission to declare on the subject allegations. Employer is obliged to state grounds for termination in the warning, as well as facts and evidence indicating the fulfilment of requirements for termination, and deadline for submitting the employee’s response thereof.
Expected Changes in Hungarian Taxation as of 2022, Personal Income Tax Refund to Families with Children
Extended loan moratorium, tax return for families, exemption for personal income tax for young adults under 25, new pension premium are the most important tax changes in connection with the central budget as off 2022.
International Franchise Handbook: Focus on the Czech Republic
Franchising may be an attractive proposition for many companies wishing to expand internationally. Knowing how to structure your franchise, and to identify the next steps for expansion into other countries, is crucial.
Hungary to Join Global Minimum Tax Deal
Hungary joins global minimum corporate tax agreement, as Mihály Varga, Finance Minister on Hungary announced on 8 October 2021. Mr. Varga highlighted three key points of the deal for Hungary.
COVID-19 and the Pharmaceutical and Medical Sector in Poland, Part 4: Other Consequences of the Pandemic, Sector Barriers and Suggested Action
The DLA Piper report “The COVID-19 pandemic and the pharmaceutical and medical sector in Poland” is based on the feedback from a survey conducted among DLA Piper’s clients and business contacts from the pharmaceutical and medical sector, including producers of medicines, food supplements and medical devices, as well as healthcare service providers. It is the first report that brings together the views of key players in the pharmaceutical and medical industries, describing how they see the current state of affairs on the Polish market and possible future trends, along with their recommendations as to what actions they would like to see taken in the sector. The key findings are summarised in our four briefings, the last part of which discusses other consequences of the pandemic not yet mentioned as well as sector barriers and suggested state actions.
Serbia Agreed to the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy
The OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (IF) has agreed on 8 October 2021 a two-pillar solution to address the tax challenges arising from the digitalisation of the economy. The Republic of Serbia is one of 136 jurisdictions that have agreed to the solution.
COVID-19 and the Pharmaceutical and Medical Sector in Poland, Part 3: Patients’ Rights, the Product Market and an Evaluation of the State’s Actions
The DLA Piper report “The COVID-19 pandemic and the pharmaceutical and medical sector in Poland” is based on the feedback from a survey conducted among DLA Piper’s clients and business contacts from the pharmaceutical and medical sector, including producers of medicines, food supplements and medical devices, as well as healthcare service providers. It is the first report that brings together the views of key players in the pharmaceutical and medical industries, describing how they see the current state of affairs on the Polish market and possible future trends, along with their recommendations as to what actions they would like to see taken in the sector. The key findings are summarised in our four briefings, the third of which focuses on patients’ rights, the product market and an evaluation of the state’s actions during the pandemic.
Turkish Law of Inheritance Series II.: Will, Testamentary Contract and Estate Planning
Distribution of assets sometimes leads to disputes between heirs and cause undesirable consequences. In this respect, many people prefer to decide how their estate will be distributed by making testamentary dispositions while they are still alive. Hence, in order to eliminate possible conflicts between heirs or for other reasons, individuals may choose to plan their estate prior to their death, based on personal wishes. Today, more people than ever prioritize estate planning.
COVID-19 and the Pharmaceutical and Medical Sector in Poland, Part 2: Reimbursement and Organisation of the Healthcare System
The DLA Piper report “The COVID-19 pandemic and the pharmaceutical and medical sector in Poland” is based on the feedback from a survey conducted among DLA Piper’s clients and business contacts from the pharmaceutical and medical sector, including producers of medicines, food supplements and medical devices, as well as healthcare service providers. It is the first report that brings together the views of key players in the pharmaceutical and medical industries, describing how they see the current state of affairs on the Polish market and possible future trends, along with their recommendations as to what actions they would like to see taken in the sector. The key findings are summarised in our four briefings, the second of which concentrates on the impact of the pandemic on reimbursement and on the organisation of the healthcare system.
Austria: Can you Recover Internal Investigation Costs from an Employee?
According to a recently published ruling, the German Federal Labour Court says you can. Here is how.
Tax and Customs Incentives for Sustainable Vehicles Industry in Ukraine
Two laws of 15 July 2021 on amending transitional provisions of the Tax Code and the Customs Code of Ukraine "to promote the development of ecological transport in Ukraine" (Nos. 1660-ix, 1661-ix) will introduce some tax and customs facilitations with effect from 1 January 2022.