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Bulgarian tax exemption for interest and royalty payments
New amendments to the Bulgarian Corporate Income Tax Act on the taxation of income from interest and royalties entered into force as of 1 January 2015, implementing the requirements of the EC Interest and Royalties Directive....
HETA Asset Resolution – Temporary moratorium imposed by FMA
On 1 March 2015, the Austrian Financial Market Authority has initiated the resolution of HETA ASSET RESOLUTION AG. In substance, the resolutoin measures are modelled along the new European resolution regime for Banks ("Bank Recovery and Resolution Directive - BRRD")....
ANRE orders no. 8 and 9/2015
Starting with 4 March 2015, ANRE Order no. 8/2015 on the approval of the mandatory green certificate acquisition quota for 2014 (Order no. 8/2015) and ANRE Order no. 9/2015 on the approval of the pricing values for the acquisition of green certificates and the value of a non-acquired green certificate for 2015 have entered into force (Order no. 9/2015)....
Act on amendments to the general tax act
The Act on Amendments to the General Tax Act (“Act”) introducing significant changes to the Croatian tax system, such as binding opinions of the Tax Authority, administrative agreements and administrative settlements enters into force on 17 March 2015....
Das Gesetz über die Änderungen und Ergänzungen des allgemeinen Steuergesetzes
Am 17. März 2015 trat das Gesetz zur Änderung des Allgemeinen Steuergesetzes in kraft („Gesetz“). Das Gesetz führt wesentliche Neuerungen des kroatischen Steuersystems ein, wie die verbindliche Stellungnahme der Steuerbehörden, den Verwaltungsvertrag sowie das Verwaltungsabkommen....
Natural gas & electricity transactions reporting requirements
On 7th of January 2015 the European Commission adopted Commission Implementing Regulation (EU) No 1348/2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency (REMIT)....
New EU data protection rules knocking on the door
"This reform is a necessity, and now it is irreversible. Europe`s directly elected parliamentarians have listened to European citizens and European businesses and, with this vote, have made clear that we need a uniform and strong European data protection law, which will make life easier for business and strengthen the protection of our citizens" - said Vice-President Viviane Reding, the EU`s Justice Commissioner....
Rechtssicherheit adé? EuGH beschränkt Wirkung der Transparenzbekanntmachung
Der EuGH hat sich in einer kürzlich ergangenen Entscheidung mit der Wirkung von so genannten "freiwilligen ex ante-Transparenzbekanntmachungen" (in der Folge "Transparenzbekanntmachung") auseinandergesetzt....
Insight into the trade marks and industrial designs
At the end of 2014 the Bulgarian Patent Office (BPO) started providing new online services with respect to trademarks and industrial designs. The online platform was developed in collaboration with experts from the Office for Harmonization in the Internal Market (TradeMarks and Designs). This new platform aims to facilitate users of BPO services (e.g. official representatives, authors etc.) and to accelerate the filling process....
Brussels I (recast) – Recognition of EU judgements in Bulgaria
Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast) entered into force throughout the European Union on 10 January 2015. The new Regulation simplifies the recognition and enforcement by each European Member State of judgments made in another Member State. It also provides enhanced rules on exclusive jurisdiction clauses, related proceedings and the exclusion of arbitration from the scope of the Regulation....
Bulgaria – Shareholder rights and loses of corporate licences
On 13 January 2015 the Bulgarian Supreme Administrative Court ("SAC") dismissed an appeal by the shareholders of Corporate Commercial Bank AD ("CCB") against a decision of the Bulgarian National Bank ("BNB") terminating the company’s banking license, and thus triggering insolvency proceedings....
An uncertain future for the assets of non-re-registered Bulgarian companies
On 31 January 2015 the term for filing for the liquidation of companies that were not re-registered with the Bulgarian Commercial Register (CR) before 31 December 2011 expires. This deadline is important, first, for investors that hold shares in such companies that still have assets and, secondly, for the creditors of such companies....