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A number of law changes requested over last few years regarding the regime of funds of qualified investors were finally enacted and became effective. These changes may give a positive stimulus to further development of the fund industry in the Czech Republic.- Ambruz & Dark
Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
The Law on Amendments to the Law on Value Added Tax (hereinafter: Law on VAT), the Law on Amendments to the Law on Tax Procedure and Tax Administration (hereinafter: Law on Tax Procedure), and the Law on amendments to the Law on Excise Duties (hereinafter: Law on Excise Duties) were published in the Official Gazette of the Republic of Serbia no. 108/2016 of 29 December 2016. All laws came into force on 1 January 2017, however, certain provisions will begin to apply at a later date, as outlined below, for every law individually.
The Regulation on Terms and Conditions for Attracting Direct Investments (“Official Gazette of the Republic of Serbia”, no. 110/2016) has come into force on 1 January 2017. The Regulation introduces certain changes in regards to public invitation, grounds and conditions for the allocation of funds in respect of the investment projects.
One of the biggest and most popular Internet companies, LinkedIn, has become the first target of the recent Russian data localization law. The legislation requires businesses operating online to keep Russian Internet users’ data on servers located within Russia.
The Criminal Code ( Official Gazette of RS, no. 85/2005, 72/2009, 111/2009, 121/2012, 104/2013, 108/2014 and 94/2016; Code was amended on 23 November 2016. Most of the new provisions of the Code will enter into force as of 1 June 2017.
The right to be forgotten vs. Google, Inc.
The speakers will be Jennifer Barnard, Special FBI Agent, who will speak of FCPA investigations in the region and practical aspects of cooperation between U.S. Department of Justice and local authorities, Roger Burlingame, attorney at law and partner at Kobre & Kim Law Office< , London, and Nenad Stankovic, attorney at law and senior partner at Law Office Stankovic and Partners, Belgrade.
The New Merger Control Regulation, governing the content and the manner of submitting merger filings to the Serbian Competition Commission, entered into force today, 2 February 2016. The new Regulation represents a modern legal document, fully aligned with the relevant EU acquis, and will significantly facilitate the merger filing process to the benefit of the applicants, as well as the overall efficiency of the Competition Commission.
Karanović & Nikolić labour law experts from multiple jurisdictions have taken an active role in the preparation of a new 2016 guide to European employment law. Karanović & Nikolić participated here as a member of the World Service Group, an association of international independent leading legal, accounting and investment banking firms. Shepherd and Wedderburn, a leading UK law firm and the founding member of World Service Group, has organised the publication of this useful international guide for investors, and our team has provided a contribution for Serbia, Montenegro, Macedonia, Bosnia & Herzegovina and Slovenia. The 2016 edition of the popular guide summarises recent changes to labour laws across 20 European jurisdictions and highlights the major changes and trends in this area. The chapters referring to countries covered by Karanović & Nikolić may be found available for download below, while the entire publication may be downloaded from Shepherd and Wedderburn site
Employment law expert, Mirko Kovač, attended a Roundtable discussion on the new Law on Conditions for Secondment of Employees Abroad and their Protection organised by the Ministry of Labour on 13 January 2016. Our office previously analysed this law in more detail and additional information on the novelties it introduces may be found on our website ( http://www.karanovic-nikolic.com/2015/11/16/serbia-adopts-law-on-conditions-for-secondment-of-employees-abroad-and-their-protection/ ). Mirko has been personally invited by representatives of the Ministry of Labour to take part in this discussion, as a recognised expert in the area of secondment regulations. The discussion was lively and mainly focused on the practical aspects of the new law's application, as well as its impact on the protection of our citizens abroad. Trade union representatives – present at the discussion – raised their concerns regarding certain aspects of the law and the level of protection provided to employees abroad, noting how they expect state authorities to closely monitor that employers fully abide to this law in practice. For more details on this Roundtable, please refer to http://www.minrzs.gov.rs/lat/aktuelno/item/4391-od-danas-primena-zakona-o-privremenom-upucivanju-na-rad-u-inostrantvo-zaposlenih-lica
The Parliament of the Republic of Serbia adopted the Law on Conditions for Secondment of Employees Abroad and their Protection (the “Law”). The Law will be applicable two months following its coming into force, i.e. 13 January 2016.