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Significant changes to the tax regulations in the Republic of Srpska (“RS”) are expected in the coming months. On March 6, the National Assembly of RS passed amendments to the Law on Fiscal Cash Registries. In addition, Parliament approved the Government’s proposals on amendments to several important tax laws, including corporate income tax, personal income tax, social security contributions and property tax. Proposed changes to the laws governing accounting and financial audits have also been approved. These changes are intended to clarify and strengthen existing tax rules, widen the tax base and introduce more discipline in the payment of tax, but also to reduce the tax burden for businesses in order to stimulate economic growth.
Since the end of the Cold War, the Black Sea region has gained even greater political and economic importance and has become the subject of a dominance battle between world powers including the United States of America, Russia and the most influential member states of the European Union. While these world powers battle for dominance, local players such as Turkey and Ukraine have also gained importance and have used their geopolitical position to promote themselves as key international policy players.
Serbia is a contracting party to the Energy Community Treaty (ECT), signed in October 2005 between the European Union (EU) and nine South Eastern European countries. Since then, Bulgaria, Romania, and Croatia have ceased to be parties upon their accession to the EU and thus are no longer parties to the ECT, while Moldova and Ukraine have become parties to the agreement.
In our Newsletter 17/2013 , we presented novelties introduced into Serbian transfer pricing regulations by the new Rulebook on Transfer Pricing and Arm's Length Methods Applicable to Determination of Prices in Transactions Between Related Entities (" Rulebook "), which elaborates on the statutory requirement for mandatory transfer pricing documentation for FY 2013 and onwards.
On 20 November 2013, the Bosnian Competition Council issued a decision establishing that the Serbian brewery "Apatinska" abused its dominant position on the relevant market of beer distribution in Bosnia and Herzegovina. The Council imposed a fine on the brewery in the amount of BAM 430,000 (EUR 215,000).
The High Court in Belgrade and the Appellate Court in the same city have issued a few decisions in 2013 rejecting arguments by the defendants that their use of photographs, without the authorization of the copyright owners, was lawful because the photos were used within the context of reporting about current events. While the outcome in each case was identical, the judgments differ in the interpretation of the law. A reader is left unsure as to what the Serbian copyright law actually says about the current events exception to copyright infringement.
Amendments to the Serbian Law on Protection of Competition were published in the Official Gazette on 31 October 2013 and will come into force on 8 November 2013. The adopted amendments to a large extent follow solutions from the draft which the Government submitted to the Parliament back in July this year. We devoted two earlier blog posts to various drafts of the amendments (apart from the Government's July draft , we also analyzed the initial draft published in April). Now that the amendments have ripened into law, it is worth providing an overview of the most important changes to the competition legislation.
The Serbian Commission for Protection of Competition has published its Annual Report for 2012 . Because the Commission publishes its decisions and opinions randomly, the report offers an informative scan of the authority’s activities in the course of the previous year.
The Commission for Protection of Competition has issued an opinion(1) on public procurement and consortium agreements concluded between competitors in tendering and public procurement procedures.
The Commission for Protection of Competition has issued an opinion(1) on public procurement and consortium agreements concluded between competitors in tendering and public procurement procedures. The commission views consortium agreements as restrictive agreements, as they inevitably set prices and other commercial requirements for performing specific transactions. Therefore, such agreements must be submitted to the commission for an individual exemption.