The purpose of this handbook is to provide basic legal information for investors seeking to conduct business in Ukraine. This is the fourth edition of the handbook first published in 2013.
The handbook is based on general principles of Ukrainian law and does not represent any kind of legal opinion. Should you require legal advice on a specific issue, please contact Wolf Theiss directly. The contents of this handbook were prepared by Wolf Theiss on the basis of information available and accurate as of 1 January 2019. The reader should note that the information contained herein may change on short notice. Wolf Theiss disclaims any responsibility for the completeness and accuracy of the content of this handbook and for any subsequent changes. This handbook was prepared by Wolf Theiss and is protected by copyright. Material appearing herein may only be reproduced or translated with an appropriate credit.
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Tax Handbook – Investing in Ukraine 2019
The purpose of this handbook is to provide basic legal information for investors seeking to conduct business in Ukraine. This is the fourth edition of the handbook first published in 2013. The handbook is based on general principles of Ukrainian law and does not represent any kind of legal opinion. Should you require legal advice […]...
Wolf Theiss advises Chinese home appliance producer HISENSE in takeover Of Gorenje
On 28 June 2018, the China-based producer of home appliances, HISENSE, announced the successful outcome of its takeover offer for the shares in the Slovenia-based white-goods manufacturer Gorenje. The target company is listed on the Ljubljana and Warsaw stock exchanges and has overall revenues of EUR 1.2 billion and over 11,000 employees. Before and in the course of the takeover offer that was launched on 25 May 2018, HISENSE acquired more than 95% of the shares of GORENJE....
Poland may see up to several hundred million Euros in distressed M&A investments
Warsaw, 20 April 2020 – Funds specializing in the acquisition of assets in difficulty are already beginning to actively seek investment opportunities in Poland. It is estimated that such funds currently have between EUR 30 and 40 billion at their disposal, out of which several hundred million euros may go to Poland. However, bankruptcy and restructuring law may be an obstacle in the way of facilitating such transactions says Lech Giliciński, Partner and leader of the restructuring team at the Wolf Theiss Warsaw office....
BVERGG 2018: Wie lange muss BIM noch warten?
Entgegen allen Gerüchten: (Noch) keine verpflichtende BIM-Anwendung für öffentliche Bauaufträge Spätestens seitdem das Europäische Parlament 2014 einen Änderungsantrag zu den damaligen Entwürfen der EU-Vergaberichtlinien (2014/24/EU, 2014/25/EU) einbrachte, der eine Verpflichtung für öffentliche Auftraggeber enthielt, bei Ausschreibungen Building Information Modeling (BIM) zu verwenden, verbreiteten sich die entsprechenden Schlagzeilen auch in Österreich. "BIM ab 2018 für öffentliche Bauherren verpflichtend!" war etwa zu lesen. Solche Meldungen halten sich bis heute. Letztendlich hat es die EU jedoch den Mitgliedsstaaten überlassen, BIM verpflichtend oder nur freiwillig vorzusehen....
Bulgarian energy law amendments introduce domestic natural gas exchange
In an important step towards further liberalisation of its natural gas market, Bulgaria recently published important amendments to its Energy Act, introducing a new framework for a domestic natural gas exchange. The changes aim at enhancing the liquidity and liberalisation of the natural gas market, with potentially important implications for businesses with interests in the […]...
Romania adopts the single European solution for coupling intraday markets together with Bulgaria, Croatia, the Czech Republic, Hungary, Poland and Slovenia
Romania has adopted the single European solution for coupling intraday markets, along with regional neighbors Bulgaria, Croatia, Slovenia, Hungary, Poland and the Czech Republic. Romania will launch the second wave of coupling of intraday electricity markets on 19 November 2019. To learn more, please open the attached file....
Poland: New rules aim to protect SMEs from late payments from larger companies
In the second part of our analysis on the new rules in Poland for payment terms in commercial transactions, we look at provisions set out to protect SMEs. Until recently in Poland, large companies often used their strong market position to shift the financial burden of debt onto SMEs by neglecting to make payments in […]...
Deadlines approaching under the new persons with disabilities act
The new Persons with Disabilities Act (PDA) aims to enhance conditions for social and labour integration of people with disabilities in Bulgaria and provides stricter obligations for employers compared to the formerly applicable framework. From April 2019, Rules for Implementation of the PDA were adopted to provide further guidance to employers on the new obligations. First deadline for employers under the new PDA and the Rules is 2 July 2019....
Poland: Missing a payment due date in commercial transactions will become more expensive
As of 1 January 2020, companies will face new regulations in Poland affecting payment terms in commercial transactions, particularly related to admissible time periods, interest rates for late payments, and compensation for debt recovery costs. Therefore, companies should review their contracts with counterparties and/or applicable general terms and conditions in order to comply with the […]...
EUR 660,000 fine in Poland for violation of personal data protection regulations
On 19 September 2019, the Polish Personal Data Protection Office (“UODO”) announced the imposition highest fine to date for violation of personal data protection regulations. In December 2018, Morele.net Sp. z o.o. (“Morele.net”), an online retailer, reported that it was the victim of a cybercrime in which its online customer database was breached. Data of […]...
Romania updates its construction laws to encourage real estate development and reduce administrative hurdles
Romania has drastically simplified its administrative rules regarding the construction of new buildings, including the issuance of permits. The changes are designed to reduce bureaucratic hurdles and encourage even more domestic construction. The changes have been welcomed by many to improve a relatively out-of-date framework. The amendments are likely to grease the wheels for further […]...
Service vs. employment: New distinguishing criteria under tax law amendments
As of 1 January 2020, the Republic of Croatia put in force amendments to the General Tax Act and Income Tax Act which introduce new specific criteria for distinguishing between the work of employees and service providers. Here we answer why this change was introduced and discuss if such new regulation will bring more clarity […]...