In 2015 the Organization for Economic Cooperation and Development created 15 base erosion and profit shifting (BEPS) action plans to equip governments to address tax avoidance by means of domestic and international rules and instruments. The purpose of the action plans is to ensure that profits are taxed where economic activities generating the profits are performed and where value is created.

As in other countries, business in Russia has been heavily affected by the COVID-19 pandemic, and small and medium enterprises, which do not have enough reserves to survive in the unfavorable economic situation, have suffered the most. In order to support SMEs, the State, in addition to temporary support measures, has introduced a considerable decrease in the tax burden related to the remuneration of employees above the minimum monthly wage. Cumulative social contributions were lowered to 15% from the previous rate (which could reach 30%, with certain exceptions), and may be applied by SMEs.

If certain statutory conditions are fulfilled, companies obliged to pay the Macedonian Corporate Income Tax (CIT) should submit reports for their 2019 transactions with related parties to the Public Revenue Office before September 30, 2020. The 2019 financial year is the first for which CIT payers are obliged to file such reports, according to the CIT Law.

The current Covid-19 situation has changed many aspects of the business environment, and the resulting economic slowdown has prompted legislators worldwide to take measures to ease the situation for local economic players. Thus far, measures proposed by the Czech Government have generally only deferred tax liabilities and tax administrative duties, rather than eliminating them altogether. Of the few permanent types of relief from public duties, a proposal to abolish the Czech real estate transfer tax (RETT) is probably the most significant.

Following three rounds of changes to Croatia’s tax system in recent years to ease business and reduce the overall tax burden, the Government announced plans to further relax the tax system in 2021.

Given the significant tightening of Polish tax regulations with regard to carrying out and appropriately documenting and reporting transactions, implementing a tax risk management policy has now become a business necessity in Poland both for enterprises with Polish capital and global giants with Polish subsidiaries.

The Third Energy Package and its solutions directed towards the enhancement of competition in and the development of electricity and natural gas markets became part of Serbian law by the adoption of the country’s Energy Law in 2014. The network codes that were adopted after the adoption of the Third Energy Package further contribute to competition and market development. The obligation of the Republic of Serbia to adopt these acts arises from the 2008 Agreement on Stabilization and Association with the EU and the 2006 Energy Community Treaty. Until these codes are implemented through amendments to the Serbian Energy Law, the principles, solutions, and tools contained within them can be implemented in the individual network codes of each transmission system operator via a public procedure set out by the Energy Law.

It has become evident by now that the 2020 global pandemic has reshaped many aspects of the legal industry, with one of the eminent examples being the way M&A transactions are carried out – almost everything has become less certain, more urgent, and largely virtual. As though the circumstances have not been challenging enough, recent developments in local jurisprudence concerning the form of legal documents have started to negatively impact M&A deals in Croatia.

Serbian Bankruptcy Law allows only bankruptcy proceedings of legal entities; unlike in many European countries, natural persons, entrepreneurs, and farmers cannot be subject to a personal bankruptcy proceeding.

The control of merger transactions was first introduced in Albania in 1995. This law, however, provided only rudimentary guidance, and merger control really took off only after 2003, following the approval of Law no. 9121, “On Competition Protection” (the “Competition Law”), which established an independent competition authority – the Albanian Competition Authority (the ACA) – and provided for procedures that were aligned with EU standards. The Competition Law has been amended a number of times to further approximate its provisions with the EU acquis. The ACA has also issued regulations and instructions for the implementation of the merger control regime.

As international arbitration should deliver some degree of certainty to the parties, many party representatives and arbitrators have asked arbitral institutions for information and guidance in light of the COVID-19 outbreak in March 2020.

It is now more than obvious how much the COVID-19 pandemic has shaken up both global and national economies. Although various measures have already been undertaken to support businesses during this COVID-19 crisis, financial distress of many companies is inevitable, which will ultimately, for many of them, result in bankruptcy or restructuring.

On July 07, 2020, the Albanian Parliament approved Law no. 112/2020, dated 29.07.2020 “On the register of beneficial owners.”

Genetic testing of biological materials reveals unique information about the physiology and health of a natural person. DNA determines to a large degree what a person will be like. The GDPR says that consent must be obtained from people who will be subjected to genetic research and/or genetic testing for health reasons.

The new Media Law in Montenegro which entered into force on July 6, 2020, will update the country’s legislation in the area.  By adopting certain media standards, it is intended to provide the country with the modern legal solutions already present in the countries of the EU.

There is an interesting legal tool in the Competition Law of Bosnia and Herzegovina (originally adopted in 2005), that is seldom seen in other jurisdictions. Per the legal framework, the governing body of the local competition authority, the Competition Council, consists of six members appointed in order to reflect the complex ethnic structure of the country: two Bosnians, two Croats, and two Serbs.

Montenegro first introduced a State aid control framework in 2011 in preparation for initiating the EU accession process. Almost ten years later, as the candidate country currently furthest along its accession journey, Montenegro has largely harmonized its State aid framework with the EU acquis. Still, the current level of enforcement and transparency leave a lot of room for improvement.

In merger control, the standstill obligation requires that the parties refrain from implementing a concentration before obtaining the required merger clearance. This duty represents a cornerstone of many merger control regimes and is intended to protect the structure of the market and the consumers from any damage that could result from a transaction that had not been properly examined and could turn out to be anti-competitive.