Client Alerts
Reduced V.A.T. rate for agricultural products and services
The Ministry of Public Finances and Ministry of Agricultural and Rural Development issued order no. 1155/868/2016 establishing those agricultural products and services for which a reduced V.A.T. rate now applies ("Order 1155/868")....
Restrictions on off-shore companies relaxed in Bulgaria, facilitating fund investment
On 1 July 2016 an Act amending and supplementing the Act for Economic and Financial Relations with Companies Registered in Jurisdictions with Preferential Tax Regime, their Related Parties and Beneficial Owners (the "Act") entered into force in Bulgaria....
State of emergency in Turkey
On 20 July 2016, the Turkish government announced a state of emergency for the entire country in response to the failed military coup which took place on 15 July 2016. The state of emergency is scheduled for a period of three months, starting from 21 July 2016. The decision of the Turkish government on the announcement of the state of emergency has been published in the Turkish Official Gazette on 21 July 2016 and subsequently approved by the Turkish Parliament....
Common fraud schemes in the CEE Region
Fraud schemes such as "Fake President Fraud", "CEO/CFO FRAUD" or "CEO Email Scam" are an increasing phenomenon in the CEE Region. Based on a rather simple but highly effective scenario perpetrators target companies and – either by telephone or e-mail – succeed in convincing the companies' officers to make money transfers to foreign bank accounts....
No award is safe! and: limitation of third party capacities!
In the field of public procurement law, the European Court of Justice has recently passed two far-reaching decisions. Our Client Alert helps you understand how these decisions might affect your businesses....
The new general collective agreement for FBIH – Significance for employers
If you're an employer in Federation of Bosnia and Herzegovina, then watch out! A new General Collective Agreement for FBiH has just come into effect changing, inter alia, how the lowest hourly rate, meal allowance and salary increases are calculated. This complements the new Labour Law and regulates issues that it did not cover or were contrary to its provisions....
Kein Ausscheiden bei Insolvenz eines BIEGE-Mitgliedes
Gute Nachrichten für Bietergemeinschaften in Vergabeverfahren: Nachdem die österreichische Judikatur die Insolvenz und das daraus folgende Ausscheiden eines Mitgliedes aus einer Bietergemeinschaft äußerst kritisch beurteilt hat, könnte eine jüngst ergangene Entscheidung des EuGH den Weg dafür ebnen, dass der verbleibende Partner das Verfahren fortsetzen oder gar den Zuschlag erhalten kann. Unter welchen Umständen dies möglich ist, erfahren Sie im angehängten Client Alert....
New restrictions in enforcement proceedings in FBIH
New amendments to the Law on Enforcement Proceedings in the Federation of Bosnia and Herzegovina have just come into effect. The amendments additionally protect the FBiH and other public bodies from enforcement proceedings against their assets and restrict the sale of a debtor's real property at a third public auction without an acceptable minimum bid value in general. The amendment affects all creditors which have an enforceable deed against the FBiH or its public bodies, preventing them from settling their claims out of the shares and securities held by these bodies....
The implementation norms for the new public and sectorial procurement laws were published by the Romanian government
We provide this update to our newsletter of 2 June 2016, on the entry into force of the new public procurement legislative package consisting of four (4) laws regulating this area, which update relates to the issuance and publication by the Romanian Government of implementation norms for the public and sectorial procurement laws and certain highlights of these new regulations....
How retailers can avoid fines from the consumer protection authority
The National Authority for Consumer Protection ("ANPC") imposed sanctions during Q1 2016 upon clothing retailers in Romania, in the aftermath of various inspections targeting compliance with marketing, advertising and labelling regulations....
Cancellation of registration of foreign investments in Ukraine
On 31 May 2016, the Parliament of Ukraine adopted amendments to several Ukrainian legislative acts resulting in cancellation of the registration of foreign investment (Draft Law No 2763). The requirement to register foreign investments had existed since 1996 and was a prerequisite for foreign investors to enjoy a number of privileges and protection under the Foreign Investments Act....
New public procurement laws have entered into force in Romania on 26 May 2016
On 23 May 2016, the Romanian Official Gazette published the highly anticipated new public procurement package consisting of four (4) laws. The new public procurement laws will apply to all public procurement proceedings initiated after their entry into force and to those public procurement contracts that are concluded after this date....