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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Wolf Theiss

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EU TRANSACTION TAX: ADDITIONAL BURDENS ON BANKS?

March 2012 - Tax & Private Client. Legal Developments by Wolf Theiss.

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The finance ministers of the European Union met again last week to discuss the plan of introducing a single EU financial transaction tax. According to the plan, a 0.1 percent tax would be levied on bond and capital transactions, while a 0.01 percent tax would be charged on derivatives transactions.

Generating Electricity from Renewable Sources in Central, Eastern & Southeastern Europe

March 2012 - Projects, Energy & Natural Resources . Legal Developments by Wolf Theiss.

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This 2012 Wolf Theiss Guide to Generating Electricity from Renewable Sources in Central, Eastern & Southeastern Europe is intended as a practical guide to the general principles and features of the basic legislation and procedures in countries included in the publication.

MORE STRINGENT VAT REFUND RULES ADVERSELY AFFECT FINANCIAL POSITION OF COMPANIES

February 2012 - Tax & Private Client. Legal Developments by Wolf Theiss.

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As a result of a ruling of the European Court last July, the previous limitation of the VAT law, providing that companies could not claim back part of the positive difference between the payable and deductible VAT which related to their unpaid acquisitions, was annulled.

TRANSFER PRICE REGISTRATION 2012

February 2012 - Tax & Private Client. Legal Developments by Wolf Theiss.

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SIMPLIFICATION AND TIGHTENING UP - THE TAX AUTHORITY MIGHT IMPOSE PENALTIES AS HIGH AS 4 MILLION FORINTS  

The question of transfer prices is getting increased emphasis both in Hungary and internationally as more than 60% of world trade transactions are made up of inter-company group deals.

The Handbook of Competition Enforcement Agencies 2011

January 2012 - EU & Competition. Legal Developments by Wolf Theiss.

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Neli Nedkova and Dessislava Iordanova - Wolf Theiss

In 2010 the activity of the Bulgarian Commission for Protection of Competition (the Commission) showed a trend of increasing focus on compliance shifting slightly from the antitrust area. Proceedings that have started and the most recent decisions show that this trend is likely to continue in 2011.

Neues aus dem Baurecht

September 2011 - Real Estate & Property. Legal Developments by Wolf Theiss.

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Der Oberste Gerichtshof beschäftigte sich neulich mit der Frage inwieweit technische ÖNORMEN bei der Frage heranzuziehen sind, ob das hergestellte Werk den "anerkannten Regeln der Technik" entspricht (OGH 22.6.2010, 10 Ob24/09s).

News from the Construction Law
The Supreme Court recently dealt with the question whether technical Ă–NORMEN are taken into consideration for the issue of whether the plant produced the
"accepted rules of technology" (equivalent to OGH 22.06.2010, 10 Ob24/09s).

Grunderwerbsteuer trotz RĂĽcktritts

September 2011 - Real Estate & Property. Legal Developments by Wolf Theiss.

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Grunderwerbsteuer wird auf Antrag nicht festgesetzt, wenn der Erwerbsvorgang innerhalb von drei Jahren seit der Entstehung der Steuerschuld durch Vereinbarung, durch Ausübung eines vorbehaltenen Rücktrittsrechts oder eines Wiederverkaufsrechtes rückgängig gemacht wird.

Real estate transfer tax, despite withdrawal
Real estate transfer tax is not imposed at the request, if the acquisition process is made ​​within three years since the formation of reverse tax liability by agreement, by exercising a reserved right to withdraw or re-sale rights.

Termination or Withdrawal from a Tenancy Agreement for Business Premises under Slovenian Law

June 2011 - Real Estate & Property. Legal Developments by Wolf Theiss.

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According to the BBBP Act, (Official Gazzete of the socialistc RS Nr. 18/1974, 34/1988, 5/1990, Official Gazzete of the RS-old Nr. 10/1991, Official Gazzete of the RS/I 17/1991-ZUDE, Official Gazzete of the RS Nr. 13/1993, 66/1993, 32/2000, 102/2002)),  a tenancy agreement can be ceased with the common consent of the parties at any time.

Anhebung der GerichtsgebĂĽhren

June 2011 - Corporate & Commercial. Legal Developments by Wolf Theiss.

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Anhebung der GerichtsgebĂĽhren fĂĽr die Eigentumseintragung im Grundbuch

 

Increase in court fees

Increase in court fees for property registration in the Land Register

Ownership under the Croatian Tourist Land Act

June 2011 - Corporate & Commercial. Legal Developments by Wolf Theiss.

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Background During the 1990's, companies in Croatia experienced a process of privatisation which saw socially-owned companies being sold to private investors.

Impact of the UK Bribery Act for CEE Investors – Managing Local Advisors & Consultants

June 2011 - Crime. Legal Developments by Wolf Theiss.

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Last week the UK Government issued its Guidance on the application of the UK Bribery Act 2010, which will come into force on 1 July 2011.

THE WOLF THEISS GUIDE TO: PPPs, Concessions & Public Procurement

March 2011 - Litigation & Dispute Resolution. Legal Developments by Wolf Theiss.

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This 2011 Wolf Theiss Guide to PPPs, Concessions & Public Procurement in Central, Eastern and Southeastern Europe is intended as a practical guide to the general principles and features of the basic legislation and procedures in countries included in the publication.

Dispute Resolution in Central, Easter n & Southeastern Europe

March 2011 - Litigation & Dispute Resolution. Legal Developments by Wolf Theiss.

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The Wolf Theiss Guide to: Dispute Resolution in Central, Eastern & Southeastern Europe is intended as a practical guide providing a general overview of the legal systems and dispute resolution procedures in the 12 countries where Wolf Theiss has offices, as well as Kosovo

Guide to: Generating Electricity from Renewable Sources in Central, Eastern & Southeastern Europe

February 2011 - Projects, Energy & Natural Resources . Legal Developments by Wolf Theiss.

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As our teams in the various Wolf Theiss offices were putting the final touch to this Guide, many parts of Europe were hit by the heaviest snowfalls for decades, which reminds us of the more frequent extreme weather conditions to come with climate change. For some time now, climate change as well as concerns about the security of the security of our energy supplies has pushed the energy industry away from the traditional fossil fuels towards low-carbon sources. The increased use of renewable energy sources will play a central role in this decarbonisation movement.

The revised UNCITRAL Arbitration Rules

October 2010 - EU & Competition. Legal Developments by Wolf Theiss.

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On 25 June 2010, the United NationsCommission on International Trade Law(UNCITRAL) adopted its revised arbitrationrules (the UNCITRAL Rules).1 The newrules replace the successful UNCITRALArbitration Rules adopted in 1976 (the1976 Rules).2 The revision was not intendedto change the structure, the spirit or thedrafting style of the 1976 Rules, and shouldmaintain the flexibility that contributed totheir success in the past.3 

Tax treaty signed between Austria and Serbia

October 2010 - Tax & Private Client. Legal Developments by Wolf Theiss.

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ON 7 MAY 2010, AUSTRIA AND SERBIAsigned a double taxation agreement (DTA)with an additional protocol concerningcertain articles of the DTA (business profi ts,interest and exchange of information).  

Case of the vanishing millions

October 2010 - Crime. Legal Developments by Wolf Theiss.

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ALTHOUGH you might expect to readthe following story in a detective novel, itis in fact an abridged version of a series ofevents that took place in Amsterdam in thespring of last year. 

Procedural aspects of customs seizures of counterfeit goods in Austria, Romania and Slovenia

October 2010 - EU & Competition. Legal Developments by Wolf Theiss.

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THE WAR WAGED BY INTELLECTUALproperty (IP) rights holders in the EU againstinfringement by shipments of goods hasrecently become more intense. These rightsmainly relate to trade marks, design andcopyright, and IP rights holders pursue theirclaims through the customs authoritiesof EU member states.  

Legal and tax treatment of the sale of non-performing loans in Ukraine

October 2010 - Tax & Private Client. Legal Developments by Wolf Theiss.

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AN IMPROVEMENT IN THE LIQUIDITY OFbanks, as well as the need for an additionalinjection of money, became crucial forUkrainian banks in the aftermath of therecent global fi nancial crisis. An Increase inthe number of non-performing loans (NPLs)negatively impacted the overall liquidityof Ukrainian banks by forcing them to holdmandatory reserves.1 

RES-electricity: navigate the regulatory labyrinth

October 2010 - Projects, Energy & Natural Resources . Legal Developments by Wolf Theiss.

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As a new directive promotes the use of renewable energysources in central, eastern and south-eastern Europe,Bryan Jardine and Jacques Isabelle present a guide outliningthe framework of this sector and warnings for applicants 

Carrying out cross-border mergers in central, eastern and south-eastern Europe

October 2010 - EU & Competition. Legal Developments by Wolf Theiss.

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AFTER ADVISING A CLIENT ON MERGING Agroup of companies across a number ofcountries, we realised there was a need fora fi rm-wide eff ort to research and compilea guide on how to successfully carry outmulti-jurisdictional mergers. The projectfocused on the 12 countries in central,eastern and south-eastern Europe whereWolf Theiss has offi ces. The eff ort resultedin the publication last autumn of Cross-Border Mergers in CEE/SEE – Practioner’sGuide (LexisNexis 2009). 

Competition law developments in CEE and SEE countries

October 2010 - EU & Competition. Legal Developments by Wolf Theiss.

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LAST YEAR SAW AN INCREASE IN LEGISLATIVEactivities concerning competition law inseveral central and eastern European (CEE)and south-east European (SEE) countries.The non-EU member countries in the regioncontinue to harmonise their competitionlaw regimes with international standardsapplicable in most jurisdictions in the EU.This should facilitate the competition lawassessment for undertakings active innumerous jurisdictions across Europe. 

New rules for work permits in Ukraine

August 2009 - Employment. Legal Developments by Wolf Theiss.

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In view of the increase in unemployment, Ukraine also will amend its rules and regulations regarding the issuance of work permits for foreigners. These new rules will affect those Austrian expats currently working in Ukraine (e.g. managing directors, members of supervisory boards and other skilled labour) who wish to extend their work permits, as well as those who intend to work in Ukraine once the respective law has been enacted.

MANAGING DIRECTOR LIABILITY AND INSOLVENCY IN CROATIA

August 2009 - Corporate & Commercial. Legal Developments by Wolf Theiss.

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In times of crisis, it is particularly important for the managing director of a limited liability company to meet all legally prescribed obligations regarding auditing and notification in a timely manner in order to avoid any possible (personal) liability. In Croatia, countless companies ("društvo s ograničenom odgovornošću" or abbreviated "d.o.o.") exist in which foreigners act as managing directors. Thus, knowledge of and attention to legal distinctions are of significant importance.

Let´s Bid in the Czech Republic

August 2009 - Corporate & Commercial. Legal Developments by Wolf Theiss.

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Public procurement is a significant part of the Czech economy and constitutes more than 17% of its GDP. Public procurement is regulated by Act No. 137/2006 Coll., on Public Contracts and Act No. 139/2006 Coll., on Concession Contracts and Concession Procedure (Concession Act).

Support for foreign investors

September 2008 - Finance. Legal Developments by Wolf Theiss.

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Foreign direct investment can be a key factor in a country's ability to achieve economic development, increase employment or increase exports. Attracting foreign investment is of special importance for countries like Bosnia and Herzegovina (BiH), whose transition from a socialist economy to a market economy has been disrupted by conflict. With awareness of this need, BiH is constantly trying to improve its business climate to attract foreign investors.

New due diligence rules

September 2008 - Finance. Legal Developments by Wolf Theiss.

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Romania's Accession Treaty to the European Union contains the commitment to transpose and implement, among others, Directive 2005/60/CE on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, as well as Directive 2006/70/CE, which lays down implementation measures for Directive 2005/60/CE regarding the definition of a politically exposed person, the technical criteria for simplified customer due diligence procedures and exemption on grounds of a financial activity conducted on an occasional or very limited basis.

Mifid implementation

September 2008 - Finance. Legal Developments by Wolf Theiss.

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Effective as of July 1 2008, the Czech Republic has transposed into its national legislation Directive 2004/39/EC on markets in financial instruments (Mifid) and Directive 2006/73/EC, implementing Mifid as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of Mifid. The transposition has been effected mainly by way of a complex amendment of the Capital Markets Act. The amendment was promulgated on June 30 2008 (only one day before its effective date), with a delay against the deadline of January 31 2007 for the transposition of Mifid into national legislation. The respective provisions of the national legislation should have been applicable as of November 1 2007.