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Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • HU: New advertising tax feels like a bucket of cold ice for some companies

    Hungary's new advertising tax, which has been introduced effective as of 15 August 2014, affects not only media companies, online and offline content providers and advertising agencies (media companies), but may also affect regular manufacturing and trading companies active in various industry segments (commercial companies).  read more...
  • Slovenia: The Competition Protection Agency's fining policy as a black box

    The Slovenian media company Pro Plus already experienced the tough approach being applied by the Slovenian Competition Protection Agency ("the Agency") at the beginning of this year, when the Agency sanctioned it with a fine for obstructing an Agency investigation (for more information please see here ). According to media reports and as confirmed by the Company, Pro Plus has now been also fined with almost 10% of its 2013 annual turnover for a dominant position abuse on the television advertisement market.  read more...
  • EU/AT: Austrian gas law's possible non-compliance with EU Gas Directive

    On 18 July 2014, the Austrian energy regulatory authority E-Control released its affirmative decision in relation to the certification of Trans Austria Gasleitung GmbH (" TAG ") as a transmission system operator (" TSO ") for gas. In its decision, E-Control not only requires TAG to be comprehensively restructured, but also takes a stance on the European Commission's (" EC ") opinion on the potential non-compliance of the Austrian Natural Gas Act 2011 (Gaswirtschaftsgesetz " GWG ") with EU unbundling rules.  read more...
  • UA: New rules for conversion of FX proceeds

    The National Bank of Ukraine (NBU) introduced the compulsory exchange of 100% of foreign currency proceeds.  read more...
  • Slovenia: IPPC baseline reporting to become serious very soon

    Slovenian legislation is still lagging behind in transposing the IPPC/IED baseline reporting requirements into national environmental law. However, the Slovenian government recently presented a new draft decree that inter alia defines and specifies the obligation of drawing up baseline reports. Many industries will be hit by the new legislation, which is expected to enter into force by the end of 2014.  read more...
  • MD: Finally! Liquidating a Company is Now a Mission Possible

    On 29 May 2014, the Moldovan Parliament passed the Act No. 90/2014 on amending and supplementing of certain legislative acts (Act No. 90). Act No.90, which entered into force on 27 June 2014, implements simplified rules on the liquidation of companies in Moldova (in particular, at the decision of their shareholders), namely by inter alia amending the Civil Code of Moldova, Act No. 845/1992 on Entrepreneurship and Enterprises, Act No. 220/2007 on State Registration of Companies and Individual Entrepreneurs.  read more...
  • AT: German Supreme Court enacts duty for banks to disclose internal commission payments

    In a recent landmark judgment (3 June 2014, XI ZR 147/12), the banking law senate of the German Supreme Court stipulates far-reaching disclosure obligations for banks (active in Germany) with respect to internal commission payments for investments. While the country's banks are obliged to inform their clients of such "hidden" internal commission payments as of 1 August 2014, they will not be held liable for not having disclosed such commission payments in the past. The German Supreme Court's decision will certainly have an immediate impact also in Austria.  read more...
  • Austria: Rules for voluntary disclosure in criminal tax matters are expected to be tightened

    Austrian tax law enables taxpayers to avoid criminal tax sanctions or penalties in case of fiscal offences by submitting a voluntary disclosure. The taxpayer's exemption from any criminal tax sanctions on account of having submitted a voluntary disclosure is subject to specific preconditions. A draft tax bill on the Amendment of the Austrian Fiscal Criminal Tax Act 2014 (Finanzstrafgesetznovelle 2014) that is currently pending for vote in the Austrian Parliament is set to tighten these requirements significantly. The new rules are expected to enter into force as of 1 October 2014.  read more...
  • AT/EU: New Sanctions Regime against Russia

    The European Union has recently agreed to an additional, higher level of sanctions against Russia. The new packages include (i) severe restrictions on doing business in Crimea or Sevastopol, (ii) a significant expansion of the list of designated persons and entities (see our newsletter of 28 March 2014 ), and most importantly (iii) severe limitations on the ability of Russian state banks to access (capital markets) financing, embargoes on weapons sales (including dual-use goods), as well as prior authorization requirements for the transfer of sophisticated oil drilling technology.  read more
  • Romania: Law 84/2014 on employee inventions

    In Romania, a new law on employee inventions entered into force on 29 June 2014 (Law 83/2014). This new law abrogates former provisions on employee inventions set forth inter alia by the country's Patent Law (Law 64/1991).  read more...