On 31 July 2019, Bulgaria’s parliament adopted new transfer pricing rules in line with recommendations of the OECD. The new rules set out obligations for Bulgarian companies, Bulgarian permanent establishments of non-resident foreign companies and… Read More »Bulgarian Transfer Pricing
Hungary has recently amended its labour code in order to increase permissible overtime levels. On an annual basis, permissible overtime has increased from 250 hours per year to 400 hours per year. Such overtime overrides… Read More »Amendments to the Hungarian Labour Code
As of the close of 2018, Serbia has now established its central register of ultimate beneficial owners. Henceforth, Serbian companies, institutions, as well as branches and representative offices established by foreign investors in Serbia are… Read More »Serbia institutes UBO registry
Just this past October, Government Emergency Ordinance GEO 8/2018 was published, which set out certain new amendments to Romania’s insolvency regime. The ordinance amends: (i) Law no. 85/2014, regarding Romania’s insolvency law itself; (ii) ordinance… Read More »Romania changes insolvency laws
On October 4, 2018, ESMA (the European Securities and Markets Authority) updated its view on the applicability Directive 2011/61/EU on alternative investment fund managers (AIFMs). The update provides guidance with respect to the cross-border management of alternative investment… Read More »ESMA updates AIF disclosure requirements
Just this past August, Slovenia introduced a new collective agreement baseline for companies. The new collective agreement regulates business times for employers – specifically, it prohibits the scheduling of work on public holidays and bank… Read More »New Collective Agreements in Slovenia
In the wake of GDPR, Poland has adopted a number of measures related to employee monitoring. Enshrined in the Polish Labor Code, there are a number of issues one should be aware of now when… Read More »Monitoring Polish employees after GDPR
Bulgaria has recently adopted new appeal procedures related to public procurement. Designed to speed-up appeals and to bring an end to bad faith actions, the new rules are designed to place Bulgaria in line with… Read More »Bulgaria adopts changes to Public Procurement
This past July, Croatia’s parliament adopted a new Capital Markets Act in order to align Croatian legislation with the EU acquis. The at meets the EU’s cornerstone financial markets regulation – the Directive on Markets in… Read More »Croatia changes its capital markets regime
Russia has slowly moved forward in terms of its response to a recent push by the US to levy sanctions in April 2018 against certin Russian state-controlled entities and individuals, and the companies they control.… Read More »Russia moves forward on countermeasures
The Hungarian government has recently proposed legislative changes designed to enable regulatory screening of foreign acquisitions of certain Hungarian companies. Designed to protect strategic businesses, the proposed changes would include oversight of certain services (such… Read More »Hungary proposes screening of FDI
Quite recently, a Romanian government emergency ordinance regarding certain amendments to Romania’s public procurement regime (“GEO 45/2018”) has been approved and gazetted. Essentially, GEO 45/2018 amended and supplemented four laws and two government emergency ordinances… Read More »Major changes to Romania’s Public Procurement Regime
The Serbian parliament has recently adopted a new law regarding the introduction of a central registry of ultimate beneficial owners (UBOs). In force as of June 8th, the UBO law stipulates that entities and their… Read More »Serbia to institute UBO law
Poland has recently introduced another public registry related to debtors. Poland is in the process of introducing the Register of Public Law Dues, which is desiged to provide information related to any financial liabilities of… Read More »Poland introduces debtor registry
Albania performs reasonably well overall with respect to the quality of its energy (electricity and natural gas) sector. A recent EBRD energy law reform assessment, for example, shows that the country’s regulatory independence remains strong… Read More »A short discussion on the electricity and gas sector in Albania
The National Assembly of the Republic of Srpska (RS) adopted amendments to the Profit Tax Law on 28 December 2016. The main changes have become effective as of 1 January 2017 and will be briefly… Read More »Republic Srpska Tax Update
A draft law that would amend the Tax Code of the Republic of Belarus has been posted on the website of the Belarusian Ministry of Finance (the “Draft Law”). This time the draft has been… Read More »Belarus Tax Note
The purpose of the new amendment to the Hungarian Civil Code, effective as of 1 October 2016, is to make effective the independent mortgage, which was used under the former civil code, along with refining… Read More »New amendment to the Hungarian Civil Code
One of the most popular enquiries after Brexit is how expats and people who own property in Bulgaria will be affected. There are approximately 1.3 million UK citizens living in Europe many of which chose… Read More »How Brexit may impact British property owners in Bulgaria
Serbia’s new Enforcement and Security Act (ESA) was adopted on 18 December 2015, and has become effective as of 1 July 2016. The most relevant new rules are: the provision of new mechanisms to ensure… Read More »The New Enforcement and Security Act in Serbia
A limited liability company is the most common corporate form established by foreign investors in Czech Republic. The activity is governed by a Memorandum of Association, which is signed by all shareholders. It is essential… Read More »How to establish a limited liability company in Czech Republic
Pursuant to a judgement dated 29 February 2016, the Bulgarian Supreme Court repealed Regulation no 196 of the Council of Ministers of 10 July 2014 with respect to the approval of the fee rates applicable… Read More »The Bulgarian Supreme Court has repealed cumbersome fee rates under the Public Procurement Act
Slovenia has amended the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act, which follow on amendments in 2013, amending preventive restructuring, simplified compulsory settlement and personal bankruptcy proceedings. Amendments to Slovenia’s Insolvency Act, which were adopted… Read More »Slovenia amends insolvency law