CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
According to a draft legislation on digital companies issued at the end of 2023, “digital companies” would be exempt from paying public burdens and local business tax. Employees in employment relationships and the executives of companies could fulfil their tax payment obligations after their income through special public burden contributions.
Ellex has advised Hollister Incorporated on launching a new shared services center in the Kaunas Free Economic Zone, in Lithuania.
Albania has officially implemented law no. 29/2023, dated 30.03.2023 “On Income Tax”, effective starting from 1 January 2024; repealing and replacing law no. 8438, dated 28.12.1998 “On Income Tax”, as amended. Despite successive amendments over the years, law no. 8438 is deemed outdated and inadequate in addressing the contemporary principles and methodologies associated with personal income tax and corporate income tax (the “New Income Tax Law”).
For many years it has been clear for Polish entrepreneurs that there is no simple legal answer to their strong need to secure their family assets, and above all their family businesses, for future succession. Due to the lack of appropriate instruments in the Polish legal system, many national entrepreneurs were forced to use the legal institutions of other jurisdictions. This solution was highly uncomfortable because of the differences in legal regimes and foreign legal requirements that did not entirely meet the needs of domestic entrepreneurs.
Gecic Law, working with Shibolet & Co, has advised the Paskal Group on "the successful submission of the first CBAM reports from Israel in accordance with the EU’s new Carbon Border Adjustment Mechanism Regulation."
In a recent update to the VAT Act in Slovenia, notable amendments have been introduced, particularly focusing on services in the public interest. Article 42(1)(5) of the VAT Act has changed, emphasizing VAT exemptions exclusively for services provided within activities deemed in the public interest.
Mariella Kapoun and Georg Gutfleisch have become Partners at CMS in Austria, while Amela Zrt and Ivan Kranjec have become Partners at CMS in Slovenia, as part of the firm's latest promotion round.
