Client Alerts
Strengthening the transparency in extractive industries in Ukraine
On 16 June 2015 the Verkhovna Rada of Ukraine adopted the Law "On Amending Certain Legislative Acts of Ukraine Related to Strengthening the Transparency in Extractive Industries of Ukraine” (the "Law") which will become effective in the coming weeks. This Law has been developed in order to introduce the European financial reporting standards in Ukrainian extractive industries and to ensure Ukraine’s compliance with its obligations as a candidate country for the Extractive Industries Transparency Initiative (the "EITI")(1). EITI developed an independent and voluntary international standard for openness around the management of revenues from natural resources (the EITI Standard), which is currently being implemented by 48 countries....
New nice classification
The World Intellectual Property Organization adopted changes in the International Classification of Goods and Services for the Purposes of the Registration of Marks established under the Nice Agreement concluded back in 1957 (the "Nice Classification")....
Wolf Theiss hírlevél
Az Országgyűlés 2015. június 17-én elfogadta a jövő évi adótörvény változásokat. Hírlevelünkben részletesen ismertetjük az egyes adónemeket érintő legjelentősebb módosításokat....
The Lisbon system – Introduction of the geographical indications
On 21 May 2015 the Geneva Act of the Lisbon Agreement that regulates the international registration and protection of the Appellations of Origin ("AOs"), was adopted....
ПОТРЕБИТЕЛСКИТЕ СПОРОВЕ ИЗЛИЗАТ ИЗВЪН СЪДА
На 21 май 2015 г. Народното събрание на Република България прие на първо четене Законопроект за изменение и допълнение на Закона за защита на потребителите ("Законопроектът"). Със Законопроекта се транспонира Директива 2013/11/ЕС1 ("Директивата") и се улеснява приложението на Регламент (ЕС) № 524/20132 ("Регламентът")....
Corporate and tax alert – Poland- June 30
2015 brought significant changes in the field of corporate law. The two most important laws for the operation of businesses, the Act on the National Commercial Register and the Commercial Companies Code, received long-awaited amendments in December 2014 and January 2015. Additionally, two rulings important for entrepreneurs have been delivered: the Supreme Court ruling on a joint irregular proxy, and the European Court of Justice ruling on imposing a tax on civil-law transactions of partnerships limited by shares. The first has fuelled discussions over the widespread use of this form of a company`s representation and the latter enables partnerships limited by shares to reclaim overpaid tax on civil law transactions....
Alternative and online consumer dispute resolution procedures
On 21 May 2015 the National Assembly of the Republic of Bulgaria adopted at first reading an Act amending and supplementing the Consumers Protection Act (the "Act"). The Act implements primarily the provisions of Directive 2013/11/EU (the "Directive") and facilitates the application of Regulation (EU) No 524/2013 (the "Regulation")....
РАЗКРИВАНЕ НА ДЕЙСТВИТЕЛНИТЕ СОБСТВЕНИЦИ НА ДРУЖЕСТВА В ЕС
На 20 Май 2015 г. Европейският парламент прие на второ четене четвъртата директива за преодоляване заплахата от изпиране на пари, а именно Директива на Европейския парламент и на Съвета за предотвратяване използването на финансовата система за целите на изпирането на пари и финансирането на тероризъм (`Директивата`). Очаква се Директивата да бъде публикувана в Официалния вестник до края на юли 2015 г. и да влезе в сила двадесет (20) дни след публикуването й....
The law on insolvency of individuals has been promulgated by the president of Romania
On 18 June 2015, the President of Romania promulgated an insolvency law for individuals, which was previously approved by the legal commission of the Chamber of Deputies on 20 May 2015 (the "Law"). The Law outlines a legal framework aimed at protecting consumers as good faith borrowers, who have partially repaid outstanding amounts owed under a loan, against uncontrolled growth of loan instalments. While the insolvency of a company is meant to free-up the market from bankrupt companies and provide a rescue mechanism for those companies that can survive, insolvency for individuals offers the possibility for individuals to be released from their debts, provided that they comply with certain mandatory requirements set forth in the Law....
DIisclosure of beneficial ownership of companies in the EU – Member state public registers
On 20 May 2015 the European Parliament adopted on second reading the fourth directive addressing the threat of money laundering, i.e. the Directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (the `AML Directive`) which is expected to be published in the Official Journal by the end of July 2015 and will enter into force twenty (20) days after publication....
New regime for ownership of agricultural land by REITs with non EU/EEA shareholders
Recent amendments of the Public Offering of Securities Act (`POSA`) introduced a new regime for ownership of agricultural land by Bulgarian REITs with non-EU/EEA shareholders - such REITs are now allowed to own agricultural land in Bulgaria....
Corporate and tax alert – Poland – June 8
2015 brought significant changes in the field of corporate law. The two most important laws for the operation of businesses, the Act on the National Commercial Register and the Commercial Companies Code, received long-awaited amendments in December 2014 and January 2015. Additionally, two rulings important for entrepreneurs have been delivered: the Supreme Court ruling on a joint irregular proxy, and the European Court of Justice ruling on imposing a tax on civil-law transactions of partnerships limited by shares. The first has fuelled discussions over the widespread use of this form of a company`s representation and the latter enables partnerships limited by shares to reclaim overpaid tax on civil law transactions....