Client Alerts
Companies In Slovakia must register their UBO to stay in line with legal changes
Companies operating in Slovakia must register their “Ultimate Beneficial Owner(s)” with the authorities. The deadline to register was 31 December 2019, but companies that have not yet registered must still comply with the legal requirements. The necessity to do so is the result of Slovak legislation meant to keep the country’s laws in line with […]...
New exit tax rules introduced in Bulgaria
Bulgaria has introduced changes to its corporate income tax rules that extend the scope of taxable cross-border intra-company transfers of assets and business activities. In line with the EU Anti-Tax Avoidance Directive, the new exit tax rules may impact all businesses operating across borders while maintaining a taxable presence in Bulgaria. To learn more, please […]...
What does Brexit mean for European Union trade marks?
The UK left the European Union on 31 January 2020. Since European Union Trade Marks (EUTMs) are valid throughout the entire territory of the EU, the question arises as to what happens to EUTMs with regard to their protection in the UK. To learn more, please open the attached file....
The obligatory dematerialisation of shares in joint-stock companies and limited joint-stock partnerships in Poland
In Poland, joint-stock companies and limited joint-stock partnerships must complete the process of “dematerialisation” this year (i.e. converting paper-based share documents to an electronic form). These businesses should already have a dedicated section of their website in place to communicate with shareholders (as of 1 January 2020), and other key milestones must be achieved by […]...
The clearing and settlement of card-based payments that are linked to Bulgaria
Bulgaria has amended its rules related to the clearing and settlement of card-based payments that are linked to the country. As of 15 August 2020, card-based payments that match certain criteria must be cleared and settled through an approved operator. Our lawyers examine the implications as well as how this development intersects with the European […]...
Complying with Poland’s new law on payment delays
On 1 January 2020, important legal provisions aimed at reducing payment delays came into force in Poland. Our lawyers have already commented on the key changes in a previous newsletter, and this time would like to take a closer look at a very timely question business owners ask themselves in the context of new obligations […]...
German Federal Constitutional Court (BVerfG) delays establishment of the Unified Patent Court
In 2017, a constitutional complaint was lodged with the German Federal Constitutional Court (BVerfG) against the law approving the Agreement on a Unified Patent Court. This law was intended to create the conditions for ratification of the Agreement on a Unified Patent Court (UPCA) by Germany. Since without ratification by Germany the UPC will not […]...
North Macedonia implements the GDPR
North Macedonia’s new Law on Personal Data Protection (LPDP) represents an important step for the country’s modernization of its data privacy framework and alignment with European law. The LPDP creates significant new obligations for data controllers and processors within North Macedonia and many businesses outside of the country that have ties to it. To learn […]...
Trademark opposition system introduced in Serbia
Serbia has created a new Trademark Law in order to implement a more efficient trademark protection system and to align the national legal framework with EU Directives and other developments in Serbian law. The most significant change to the law is the introduction of the long-awaited trademark opposition system, which permits the holder of a […]...
Are Polish distressed assets selling more smoothly?
CAN DISTRESSED ASSETS BE DISPOSED OF MORE QUICKLY DURING THE UPCOMING ECONOMIC DOWNTURN? On 24 March 2020, amendments to the Polish bankruptcy law came into force, including the amendments regarding pre-packaged sales. The pre-pack sale procedure was highly praised by restructuring practitioners a few years ago, but what are experts saying now? Lech Giliciński and […]...
The new legal framework for Ukrainian cross-border taxation enters into force
On 21 May 2020, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine on Improvement of Tax Administration, Elimination of Technical and Logical Inconsistencies in Tax Legislation” (the “Law”), which was passed by the Parliament on 16 January 2020. To learn more, please open the attached file....
Czech Republic aims to strengthen the control of foreign investments
On 6 April 2020, the Czech Government approved a draft law establishing rules and procedures for the screening of foreign investments in the Czech Republic. The draft law empowers the Ministry of Industry and Trade to prohibit the investment or set specific conditions to be fulfilled by the investors. Even if the investment has already […]...