Macedonia’s 2013 Law on Takeover of Joint Stock Companies provides a squeeze-out right enabling a majority shareholder who has acquired at least 95% of the shares of an eligible joint stock company on the basis of a takeover bid to require the minority shareholders to sell their securities at a fair consideration.
Developments in Incentive Regulations
Investments can be used as tools to support and enhance a country’s economic structure. The Turkish government has developed some policies which, together, create an appropriate and advantageous investment environment for international and domestic investors.
How Should HR Departments Process Employee Data in Accordance with Data Protection Law?
Turkey’s Data Protection Law, which was published in the country’s Official Gazette on April 7, 2016, established the legal framework for the protection of personal data in Turkey and added new obligations for employers.
Labor Law in Turkey
The Law on Labor Courts Number 7036 was published and announced in the Official Gazette on October 25, 2017. One of the most important amendments stipulated in this law (the “Law”) is the introduction of a “mandatory mediation” procedure. Mediation is based on a “win-win” philosophy; this is a process where no one loses.
New Tax Code Changes Require Brand New Tax Dispute Strategy
The traditional methods of tax audits and tax litigation in Hungary will soon be a matter of the past, as three new codes have recently been adopted by Parliament and will come into force on January 1, 2018. Naturally, they are a hot topic in the industry.
Tax System in Macedonia
The last decade of the previous millennium set the Republic of Macedonia on a new course, with EU & NATO integration a number one priority for the country in the Western Balkans. This new course meant that reforms in almost all areas of state management were inevitable.
Improvement of the Measures Against Tax Evasion and Tax Fraud in Bulgaria
One of the defects of the Bulgarian tax system and of the enforcement authorities in Bulgaria – the lack of direct access to information for the purposes of administrative cooperation (the automatic exchange of information) between the relevant authorities and legal entities – is on its way to being resolved.
Tax Incentives and Tax Exemptions
Taxes are the most important instrument for the collection of revenues in the Bosnian and Herzegovinian economy and represent the largest portion of revenues for the country.
Operation Through Permanent Establishment in Moldova
The Republic of Moldova is a small Eastern European country with a market economy in development. Since its independence, Moldova has been keen to open its borders to foreign investment to vitalize its economy. To this end, Moldova has passed numerous legislative reforms to protect investments and encourage cross-border transactions.
The VAT Treatment of Electronically Supplied Services in Serbia
The steady growth of the digital products market and an increasing demand for digital products required an adjustment to the Serbian VAT rules applicable to the supply of electronically supplied services (ESS), and that adjustment finally occurred in 2017. Combined with new rules on the VAT registrations of foreign suppliers, VAT obligations related to ESS became more straightforward.
Lithuanian Tax Environment: Green Light for Investment
A favorable tax system is viewed as one of the most significant incentives for foreign investment in a given country. According to this year’s World Bank’s and PwC Paying Taxes study, Lithuania ranks 27th globally in terms of the ease of paying taxes. It is indeed a high standing, ahead of other CEE countries such as Romania, Poland, Slovakia, and Hungary. We dare say the ranking accurately reflects the efficient operation of Lithuania’s tax system.
Latvia’s Tax Reform on Its Way to Launch
The long-awaited tax reform has been finally approved by the Latvian parliament. Opposition to changes in such sensitive fields as taxes is inevitable, but it is clear now that the amendments to the country’s tax code will come into effect on January 1, 2018.
Romania’s Tax Boiling Pot Spills Over
Keeping track with the( hundreds of) changes to the Romanian tax legislation has never been an easy endeavor. This year things have been taken to a whole new level, as fiscal predictability, scarce as it was before, has disappeared entirely.
Transfer Pricing Disputes: The Coming Trend in Ukraine
Ukraine revised transfer pricing rules and introduced new reporting and documentation requirements in 2013. Since then, the rules have been changed every year. And three years after the introduction of the new transfer pricing (TP) rules, we are witnessing an increasing wave of TP audits and the first TP disputes.
Tax Advisory Introduced: Belarus Tax Litigation is About to Become Competitive
Tax Advisory Regulatory Situation
Historically Belarus has had a dual system of regulated legal services market, with one side populated by attorneys-at-law who served individuals and worked either individually or under the roof of territorial Bar Associations, and the other populated by licensed “business lawyers,” working both on their own and within law firms.
New Dimension of Taxation in Poland
The current government campaigned before the elections with the slogan “Plugging leaks in the tax system,” and it is now trying to achieve that goal by focusing its efforts on fighting harder against VAT fraud, counteracting aggressive tax optimization in income taxes, and increasing the effectiveness of tax audits.
The Country by Country Report and Its Effect on Turkish Tax Legislation
Reporting standards implemented within the frame of work conducted by the Organization for Economic Cooperation and Development (OECD) for the prevention of base erosion and profit shifting has increased the reporting obligations of multinational enterprises (MNEs).
Russian GAAR: Carrot, Stick, or Both?
The Russian tax landscape is going through a period of transformation. The average value of assessments as a result of tax audits is increasing and taxpayers are losing more disputes. Various changes to the tax laws have acted as a contributing factor. The introduction of the anti-abuse concept of “beneficial ownership” in domestic legislation, the development of tax residency and CFC rules, and the enactment of new thin capitalization rules are just a few of the recent changes that are already having an impact on taxpayers in Russia.