Although probation may be one of the most well-known legal institutes of the Labour Code and is a standard element of the employment agreements, the latest amendment of the Labour Code will make the parties pay more attention to their related statements.
Ukraine: The Law on Improving the Operations of the State Property Fund of Ukraine Became Effective
On 22 June 2023, the Law of Ukraine on Amendments to Certain Legislative Acts of Ukraine on Optimizing the Operations of the State Property Fund of Ukraine, Increasing the Effectiveness of State Property Management and Improving the Effectiveness of Sanctions Policy ("Law") became effective.
European Commission Adopts Merger Simplification Package – Cutting Red Tape for Merging Businesses?
On April 20, 2023, the European Commission ("Commission") adopted a merger simplification package ("Package") aimed at simplifying the Commission's review of concentrations under the EU Merger Regulation. The core of the Package is the expansion of the categories of cases which can be treated under the Commission's simplified procedure. In addition, the Package aims to streamline the review of simplified and non-simplified cases by introducing new notification forms.
Czech Competition Authority Blocks a Merger: Exception or Start of New Trend?
Last week, the Czech Competition Authority ("CCA") blocked an acquisition of part of První novinová společnost a.s. ("PNS") by Česká pošta, s.p. ("Czech Post"). While it is impossible to foresee the exact future of merger control enforcement in the Czech Republic, what is clear is that the CCA with this decision, whether intentionally or not, has sent a message to the market that it is ready to take the hardest line on a merger if it raises competition concerns. We summarize main details of the case and additional thoughts on its impact below.
Tax Burden Doubled on Interests in Hungary
From 1 July 2023, the interest income of natural persons will also be subject to a 13% social contribution tax. This means that - inter alia - interest on deposit accounts, together with personal income tax, will be subject to a total of 28% tax rate.
Proposed New Merger Rules in Slovakia
The Government of the Slovak Republic has introduced a draft law on the conversions of companies and cooperatives (the Draft Law) that implements EU Directive 2019/2121, amending Directive 2017/1132 with regard to cross-border conversions, mergers and divisions (the Directive).
Ukraine: NBU Lifts Restrictions on Cross-border Payments under Certain Loans From Foreign Lenders
With effect from 16 May 2023, Ukrainian borrowers are allowed to make payments from Ukraine abroad to repay and service certain
cross-border loans from foreign lenders. This applies to the loans that are:
Whistleblowing – New Czech Law From 1 August 2023
Summary of new Czech whistleblowing legislation
Breaking News: Serbia Initiates Auctions for Awarding Market Premium for Solar and Wind
The Ministry of Mining and Energy of the Republic of Serbia published the public call for auctions for awarding of market premiums (in the form of CfD) for wind and solar projects earlier today (Wednesday, 14 June 2023).
Evidence Regulation on the Verge of Becoming a Reality
Securing e-evidence and establishing efficient procedures is key.
Carbon Border Adjustment Mechanism: Another Piece in the EU's Green Legislative Mosaic
The EU is taking another legislative step in the fight against climate change. The Carbon Border Adjustment Mechanism (CBAM) is set to become a complement to emissions trading and later replace it entirely, according to a new regulation.
The Preferential Tax Advantage of Hungarian Trusts Is to Be Abolished
A recently published government bill plans to modify the Hungarian personal income tax law by abolishing significant tax advantages associated with Hungarian trusts in a short period of time.
Sustainability-linked Loans in Hungary
Sustainability is crucial for ensuring the long-term wellbeing of the planet and future generations. It encompasses responsible practices that preserve natural resources, mitigate climate change, and promote social and economic balance, ultimately creating a harmonious and sustainable world for all.
The Artificial Intelligence Risk Management Framework
In the latest installment of our series on the risks presented by artificial intelligence (AI), we delve into the risk management framework released by the esteemed American National Institute of Standards and Technology (NIST).
Tax Reliefs for Startups
The year 2021 was the most successful ever for the Serbian startup ecosystem, with local startups attracting over €120 million in investments and the Serbian tech sector exceeding $1.7 billion in export revenue in 2021. The Government’s ‘’Strategy for the Startup Ecosystem Development of the Republic of Serbia for the period from 2021 to 2025’’ aims to accelerate the development of the startup ecosystem and encourage innovation even more. As one of the main instruments of doing so, RS has introduced good-old tax reliefs and incentives.
What is a Foreign Subsidy?
Regulation (EU) 2022/2560 on Foreign Subsidies (the "FSR") aims to address distortions caused by foreign subsidies in the single market. In this part of our FSR Insight Series, we explain the fundamental notion of what constitutes a "foreign subsidy" within the meaning of the FSR. You will find a basic definition in Article 3 FSR, with some further considerations in recitals 11 to 16 of the Regulation.
Employment Brief: Regulatory updates from Slovenia
A couple of legislative changes that affect working parents, foreign employees and posted employees recently came into effect in Slovenia.
Legal Monitoring Report for the period of 28 April - 24 May 2023
The Legal Monitoring Report deals with amendments to the Law on Joint Stock Companies and the Compulsory Licensing Mechanism, ratification of the Agreement on the Transportation of Goods, and approval of Legal Framework on Cuber Security, the FISCALIS Agreement and Ecolabel Regulations.