Constitutional Court’s Recent Judgments on Rent in Austria
The Constitutional Court has recently provided two judgments on 28 June 2017 on the rent control legislation in Austria ruling that the current system for flats complies with Austrian Constitutional Law and the European Convention on Human Rights. The Constitutional Court visibly failed to take the opportunity to initiate a change to the current legislation. …
Continue reading “Constitutional Court’s Recent Judgments on Rent in Austria”
[Legal Update] Proposed Amendment to Reduce Capital Gains Exemptions…
The Ministry of Strategy and Finance announced its proposed tax law amendments for 2018 on August 2, 2017. This tax alert highlights the proposed change to the capital gains exemption currently available to foreign investors engaged in on-the-market transactions.
The importance of the effective date in tax laws
8 Aug 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS The importance of the effective date in tax laws The government of Prime Minister Prayut Chan-o-cha has passed a number of tax laws and regulations — far more than its predecessors in the previous decade of political turmoil — since coming to power in 2014. Keeping …
Continue reading “The importance of the effective date in tax laws”
An Introduction to Personal Guarantee
The economic boom in UAE has resulted in huge developments and a considerable increase in trade. This in turn has led to a rise in transactions which require a fast debt recovery mechanism. According to common practice in the UAE, the most secure and quickest method is the post-dated – and in some cases undated – cheque. This is …
Non-delivery Pledges Over Movables
Law on Pledges over Movable Property in Commercial Transactions No. 6750 is published in the Official Gazette No. 29871 and dated October 28, 2016 and entered into force as of January 1, 2017. Law on Pledges over Movable Property in Commercial Transactions No. 6750 abolished the Commercial Enterprise Pledges Law No. 1447 and dated July …
Buy-to-Let Schemes in Austria
Buy-to-let schemes reached the Austrian market several years ago and have gained increased popularity in the scenic alpine regions of Tyrol, Vorarlberg or Salzburg. Investors acquire condominium ownership in newly constructed hotel facilities and rent out the properties to hotel operators at – ideally – attractive rates. While buy-to-let-schemes can be very lucrative investments, they …
Tax issues and business transfers: The devil is in the details
25 Jul 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS Tax issues and business transfers: The devil is in the details Ever since tax incentives for business reorganisation were introduced two decades ago, different issues have arisen intermittently, especially as they relate to an entire business transfer (EBT), which has become a popular practice. Unlike a statutory merger, …
Continue reading “Tax issues and business transfers: The devil is in the details”
Hungary: Are Interim Measures Hard to Enforce?
The Hungarian Parliament recently passed new legislation on arbitration (Act LX of 2017 on Arbitration, the “2017 Act”) that will reform Hungarian arbitration law as of 1 January 2018. The 2017 Act, considering both the shortcomings of the current Hungarian legislation (Act LXXI of 1994 on Arbitration, the “1994 Act”) and the amendment of the …
Continue reading “Hungary: Are Interim Measures Hard to Enforce?”
EU: Council Introduces Action Plan for NPLs
On 10 July 2017, the Commission announced the public consultation on the development of secondary markets for non-performing loans (NPLs) and distressed assets. Following the commencement of this public consultation, the Council introduced its Action Plan for NPLs.
Bulgaria: Remedies imposed on fuel companies following cartel investigations
For the second time in less than five years, the Bulgarian Commission for the Protection of Competition ("Commission") has opened investigation proceedings regarding prohibited agreements and concerted practices against the major fuel companies in Bulgaria and closed them without issuing penalties.