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Client Alerts

Newssquare CURFEW IN HUNGARY

On 27 March the Hungarian Government introduced curfew in Hungary effective between 28 March and 11 April. In order to learn more about the restrictions that are most relevant for businesses, please download the file below.

Newssquare DEADLINE FOR UBO REPORTING POSTPONED, BUT UNCERTAINITY REMAINS FOR FILING OF FINANCIAL STATEMENTS

Poland ▬ As the ongoing Covid-19 pandemic has turned many businesses upside down and with limited human resources, entrepreneurs are struggling to meet reporting deadlines. With not all accountants and auditors having the means to work remotely, a looming deadline for preparing financial statements, which falls on Tuesday, 31 March, is particularly stressful. In order to learn more, please download the file below.

Newssquare CHANGES FOR RES INSTALLATIONS

Poland ▬ Due to the current national and global situation, the supply chain of components for renewable energy installations ("RES Installations") has been disrupted, which may result in a failure to meet the statutory deadlines imposed on RES producers benefiting from the auction support system.

The Polish government introduced an amendment to anti-crisis shield legislation ("Draft"), which will also include provisions in relation to energy from renewable energy sources ("RES"). In order to learn more, please download the file below.

 

Newssquare Financing transactions in the times of distance communication

Poland – Are there any legal measure allowing parties to enter into facility agreement without going out? For many entrepreneurs, including financial market entities, COVID-19 is a practical lesson on how to operate a business by using electronic means. Thinking about the opportunities for financing transactions these days, we have scanned the transaction documentation in terms of the possibility of concluding it at a distance. The presented shortcut is available only in Polish language version – if you need advice in English, please contact us.

Newssquare Taxation during an Epidemic - Liquidity Improvement Options

Due to the COVID-19 outbreak, businesses face great economic challenges and try to reduce their costs. Many have wondered what tax relief and liquidity enhancement tools are available in the area of taxation area to mitigate the adverse financial and economic impact of the epidemic. Our tax team in Budapest has collected some solutions and strategies that can help businesses by reducing their tax liability and temporarily relieving their tax burden. In order to learn more, please download the file below.

Newssquare COVID-19 WILL CAST A LONG SHADOW ON EU MEDICAL DEVICE REGULATION

Healthcare stakeholders are currently coping with incredible challenges in the fight against the corona virus (COVID-19). In response to this challenging situation, the European Commission announced on 25 March 2020, its intention to postpone the entry into force of the EU Medical Device Regulation (the "Regulation"). In order to learn more, please download the file below.

Newssquare BANKING REGULATORY UPDATE

Poland ▬ Amid the shock waves sent by the COVID-19 pandemic through the global and Polish economy, the Polish Financial Supervision Authority ("PFSA") has introduced measures with the goal of maintaining stability in the country's banking sector and providing certain regulatory reliefs. In order to learn more, please download the file below.

Newssquare BOSNIA AND HERZEGOVINA INTRODUCES INTERIM RELIEF MEASURES TO ASSIST LOCAL BANKS IN MITIGATING NEGATIVE CONSEQUENCES OF THE COVID-19 OUTBREAK

On 20 March 2020, the Banking Agency of the Federation of Bosnia and Herzegovina (FBA) and the Banking Agency of Republika Srpska (BARS), the competent financial regulators in Bosnia and Herzegovina (BiH) adopted special decisions (in almost identical texts) on interim relief measures which local banks may implement for the purpose of mitigating negative consequences caused by the COVID-19 outbreak (Decisions and each a Decision). The relevant Decision of BARS was published in the Official Gazette of Republika Srpska on 24 March 2020, while the Decision of FBA is expected to be published in the Official Gazette of the Federation of Bosnia and Herzegovina and to become effective on 27 March...

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