Karanović & Nikolić Wins The 2017 Deal Of The Year Award

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As of 31 December 2018, the Central Registry of Ultimate Beneficial Owners was established within the Serbian Business Registers Agency (the “Registry”), in line with the Law on Ultimate Beneficial Owners (“Official Gazette of the RoS no. 41/2018). In addition, the Ministry of Economy issued guidelines which provide more information on the implementation of certain aspects of this Law […]

Serbia amends tax legislation

By Branimir Rajšić The Serbian National Assembly passed amendments to the tax laws, introducing incentives for the IT sector, tax exemptions for the transfer of property under concession agreements and tax exemptions related to income from employee share plans. Additionally, the new Law on Fees for the Usage of Public Goods Governing the Payment of Fees […]

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The new Law on Personal Income Tax (“PIT Law”), applicable from 01 January 2019, abandons the “flat” tax rate and introduces progressive taxation. Besides the tax rate at 10%, the new PIT Law envisages a tax rate at 18% and 15%, applicable to different types of income. On 24 December 2018, the Assembly of the […]

Geo-blocking – EU Commission fines Guess

On 17 December 2018 the European Commission fined the clothing company Guess in the amount of EUR 39.8 million for restricting retailers from online advertising and selling cross-border to consumers in other Member States – i.e. “geoblocking”. The Commission’s announcement of its fining decision complements the Regulation 2018/302 on unjustified geo-blocking (the “Regulation”), which came […]

Renewable incentives in Serbia to remain unchanged in 2019

The Government of the Republic of Serbia extended the validity of the Decree on Incentive Measures for the Production of Electric Energy from Renewable Energy Sources and High-efficiency Cogeneration of Electric Energy and Thermal Energy (Decree) until the end of 2019. It was initially valid until the end of 2018. This means that new wind […]

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FCA opens notifications for temporary permissions regime in case of no-deal Brexit

By François Pfister, Anne-Gaëlle Delabye In order to ensure that investment funds that are currently marketed in the United Kingdom under the European Economic Area (EEA) passporting regime continue to be able to do so in the event of there being no implementation period based on the withdrawal agreement after 29 March (no-deal Brexit), the […]

Changes in the procedure for admission of foreign medical devices and medicines to public procurement in Russia

On 1 January 2019, amendments to the Resolution of the Government of the Russian Federation No. 102 of 05.02.2015 that provides for restrictions and conditions for the admission of certain types of medical devices originating from foreign countries for the purpose of procurement for state and municipal needs (“Resolution No. 102”). And the Resolution of […]

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A raft of firms have acted in the £250m sale of independent leisure business Travel Counsellors to UK buyout firm Vitruvian Partners. Pinsent Masons advised the seller Equistone Partners, with a team led by corporate partners Gregg Davison and Amie Norris, who featured in The Lawyer Hot 100 this year. The firm previously acted for Equistone in October 2014, when it […]

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