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The Commission for Protection of Competition of Serbia (the “Commission”) announced on 3 May 2023 that it initiated an antitrust investigation against the companies KTG Solucije d.o.o. Subotica and Eco Sense d.o.o. Subotica due to alleged restrictive agreement – colluding in public procurement procedures (bid rigging).

Serbia seems to rank highly on the destination lists of foreign investors – as the country has been experiencing an uptick in M&A and the arrival of new players – with IT, pharmaceuticals, and energy being among the sectors seeing significant growth, according to Bojanovic & Partners Managing Partner Vladimir Bojanovic.

The European Commission launched a Call for Evidence, which entails asking for feedback from the business community and the general public on adopting new Guidelines on exclusionary abuses of dominance.

The participation of women in business is not only a matter of gender equality and social justice but is also a crucial prerequisite for sustainable economic growth and social progress, particularly in the face of the multiple challenges that humanity is currently confronting. The inclusion of women in business reduces unemployment and ensures greater economic growth, which is of particular importance for countries in transition, such as the Republic of Serbia.

At the 120th session held on 7 April 2023, the Council of the Commission for Protection of Competition issued an Instruction on the content and method of submitting a request for imposing data protection measure (“Instructions“), which specifies in more detail the content and method of submitting a request for imposing a measure of protection of data source and/or certain data, in accordance with the Law on the Protection of Competition (“Law“).

On May 2, 2023, CEE Legal Matters reported that Zivkovic Samardzic had advised Fifth Quarter Ventures on the legal process for becoming an alternative investment fund in Serbia. CEELM reached out to Zivkovic Samardzic Partner Igor Zivkovski to learn more about the matter.

With technological advancements changing both how antitrust laws are enforced and how undertakings violate competition laws, the fourth industrial revolution and the rapid growth of AI continue to affect this area of law, as many others. It is impossible to ignore the potential for AI to conquer markets and its ability to spot and fix basic market balance violations. Despite the benefits of technology for customers, it also threatens their interests by distorting market dynamics and impacting competition.

Serbian Minister of Finance issued the Rulebook on interest rates that are considered to be in line with the arm’s length principle for the year 2023 (the Rulebook), which enters into force on 6 April 2023.

The Serbian Competition Commission initiated an infringement investigation. On 20 April 2023, the Commission for the Protection of the Competition (“Commission”) initiated one more infringement investigation and carried out a dawn raid, this time against KTG Solucije d.o.o. Subotica (“KTG”) and Eco-Sense doo Subotica (“Eco Sense”) for possible RPM (resale price maintenance) and sharing of markets or source of supply in public procurement proceedings related to the materials and means for maintaining hygiene in facilities.

The Ministry of Commerce of the Republic of Serbia has announced that the applications regarding the incorporation of companies (among others, limited liability companies and joint stock companies) can be submitted only in electronic form as of 18 May 2023 via a designated user application of the Serbian Business Registers Agency (“SBRA”).

Recent years have seen the amendment of multiple tax regulations that have introduced numerous incentives for a variety of taxpayers. These tax breaks have made Serbia a highly attractive country for foreign investment, which has in turn led to the development of a start-up ecosystem, job creation and more benefits for employees, and growth in several industries, most notably information technology (IT).

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas. 

Serbia Knowledge Partner

Committed to redefining a law firm's role in an emerging regional market, Gecić Law is a full-service law firm that advises international and local clients from the public and private sectors in navigating the complex legal landscape of the region across multiple practice areas. Members of the Gecić Law team have graduated from leading universities in the US and Europe. They have extensive local and international experience, with a particular focus on EU regulatory frameworks and international trade and a proven track record in providing innovative and practical solutions in the most complex of matters.

Gecić Law is an exclusive member of two leading global alliances, TerraLex and TAGLaw, extending its international footprint. The firm and its lawyers have continuously been recognized in several practice areas by elite global directories, including The Legal 500, Chambers and Partners and Benchmark Litigation. Gecić Law was named Law Firm of the Year: South Eastern Europe 2021 and Law Firm of the Year: Eastern Europe and the Balkans 2020 at The Lawyer European Awards and was repeatedly nominated in other practice areas.

For more details, please visit geciclaw.com.


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