On 26 September, the Romanian Government approved by way of Law No. 296/2023 (the “Law”) important fiscal measures intended to reduce the budget deficit and ensure long-term financial stability. After multiple debates, the Law was published in Official Gazette No. 977 of 27 October 2023.
The Entry into Force of the New Land Registry Act Is Postponed Again to October 1, 2024
On 1 October 2023, the amendments of the new Land Registry Act entered into force and as a result, the Act will enter into force only on 1 October 2024, instead of the date of 1 February 2024 already postponed from the initial date of 1 February 2023.
Karanovic & Partners Supports Burger King Franchise on Bosnia and Herzegovina Market Entry
Karanovic & Partners has advised Burger King on entering the market of Bosnia and Herzegovina and the opening of its first restaurant in Sarajevo.
Impact of the EU Directive on Ensuring a Global Minimum Level of Taxation for MNE Groups on Corporate Income Tax in Serbia and Montenegro
Starting from 1 January 2024, the Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (hereinafter: Directive) will start to apply.
Suciu Popa Enters Strategic Partnership with Vulpoi & Toader Management
Bucharest's Suciu Popa has entered a strategic partnership with accounting and financial consultancy Vulpoi & Toader Management.
Carbon Border Adjustment Mechanism and EU Sustainable Development Goals
For almost every industry, sustainability involves adopting environmentally and socially responsible practices throughout a company's operations, from sourcing and production to sales and customer engagement. This includes reducing carbon emissions, promoting fair labor practices, supporting the product lifecycle, leveraging blockchain and digital systems, ensuring supply chain transparency, and maintaining ethical governance standards. Therefore, environmental sustainability policies need to be integrated into internal company rules, and, in particular, stakeholders in every sector need to take more responsibility for ESG practices.
Novelties Pertaining to Excise Taxation
The Law on Amendments to the Law on Excise (“the Law”) was published in the Official Gazette of the Republic of Serbia no. 75/2023 of September 6, 2023, and it entered into force on the eighth day after its publishing, i.e., on September 14, 2023, while it shall be applied from October 1, 2023.