Banking & Finance Update
Unicredit Bank and Elicio Ali VE Complete the Refinancing for the Alibunar Wind Farm
UniCredit Bank Serbia and Elicio Ali VE doo, a company wholly owned by Elicio NV, have completed the refinancing transaction of the wind farm “Alibunar” of 42 MW, which supplies slightly less than 30,000 households with electricity, Unicredit Bank announced at the end of October. Our Senior Associate, Mina Sreckovic, advised Elicio Ali VE doo […]
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Tax News: Serbia
Personal Income Tax Incentives and Capital Gains Tax Exemptions Proposed
The Government of the Republic of Serbia has recently proposed amendments to the tax laws, including amendments to the Law on Personal Income Tax (‘PIT Law’), Law on Mandatory Social Contributions (‘SSC Law’) and the Law on Corporate Income Tax (‘CIT Law’). Several payroll tax incentives are proposed under amendments as well as tax exemption […]
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North Macedonia: Preparations for the Electricity Crisis
While trying to bounce back from the COVID-19 pandemic, the world is running headlong into an energy crisis, and North Macedonia will meet the same fate. The country is facing serious electricity shortages due to the rising growth of prices on the energy exchanges in Europe. This, in turn, disables the companies that trade in […]
Read more Non-competition in Labour law
Non-competition Clause After the Termination of the Employment Contract
The Labour Law contains only 2 articles related the non-competition clause. It says: “An employee could be prohibited by the employment contract to perform certain work on his own behalf and for his own account, and also on behalf and for the account of another legal or natural person, without the consent of his employer […]
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Changes to the Legislation Governing Lease of Business Premises in Slovenia
Up until fairly recently, the lease of business buildings and business premises (offices, warehouses, pertaining parking spaces, etc.) in Slovenia was governed by the Business Buildings and Business Premises Act[1] (“Act”). Since the Act was adopted back in 1974, it was not shaped for the modern business environment in which it is both in the […]
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Petar Mitrović to Moderate AmCham Discussion Panel “The price of electricity for the economy: What to expect?”
Our Partner and member of the AmCham Energy Committee, Petar Mitrović, will moderate an online panel discussion on November 3, organised by AmCham Serbia. Some of the discussion topics will be short-term and long-term causes of increasing electricity prices – locally and globally, the trends in electricity prices in the future, and how to prepare […]
Read more North Macedonia: Update
North Macedonia: Investment Support for Technological Industrial Development Zones
The Minister of Finance and the Prime Minister of North Macedonia recently presented the Plan for Accelerated Economic Development (“Plan”), intended to boost the economic development in the country and provide recovery of the economy for the period between 2022 and 2026. The Plan envisages private sector investments of up to EUR 8 billion, as […]
Read more Understand Common Crimes and Risks Online
Beware of Hi-Tech Frauds!
Recently, in practice, we have encountered a number of requests of our clients related to the fraud committed by interception and breach of confidentiality of electronic correspondence by unknown and extremely computer literate and tech-savvy criminals. Frauds are usually committed by scammers in a way that they intercept business correspondence and secretly track emails, until […]
Read more IP in Street Art
Street Art – SEE Perspective
Spray? Colours? Lots of colours? Street art? Yes, yes and yes. We love it! When you see it, you might like it or not. You may perceive the effort invested by the artist, but you will probably not think about the legal aspects encompassing this topic. We will. The work of art is protected by […]
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Karanovic & Partners Advised BIG Shopping Centers on Israeli Stock Exchange Transaction
BIG Shopping Centers Ltd, the controlling shareholder (approx. 95 pct) of BIG CEE, has successfully raised 205 mln new Israeli shekels (approx. 55 mln euros) by issuing secured bonds on the Israeli stock exchange by refinancing the BIG Fashion Kragujevac, BIG Krusevac and BIG Fashion Outlet Indjija shopping centres in Serbia. BIG Group intends to […]
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Karanovic & Partners Advised ElevenEs on Partnering with EIT InnoEnergy to build Battery Gigafactory in Serbia
ElevenEs and EIT InnoEnergy have announced a strategic partnership to build Europe’s first large LFP battery plant in Subotica. The team led by Marjan Poljak, Senior Partner, and Igor Radovanović, Senior Associate, advised ElevenEs on this cooperation from the beginning. ElevenEs has signed agreements with EIT InnoEnergy, which Pitchbook ranks as the most active sustainable […]
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Karanovic & Partners attend Women’s Leadership Summit 2021
Karanovic & Partners took part at the hybrid event Women’s Leadership Summit, organised by AFA, held on October 20 – 21. At the “Women at Workplace” panel, our Senior Partner Rastko Petaković discussed the importance of male engagement in advancing women at the workplace and achieving gender parity, along with Stefan Salom, Co-Founder and Director […]
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Karanović & Partners Official Partner of Delta Holding “DBI”
For the fourth year in a row, Delta Holding organised the Delta Business Incubator, a company program to support start-ups, and we are proud to say that this year, we were partners of the program, along with several reputable global and regional companies and angel investors. This year, 36 teams applied for the incubation and […]
Read more Tax News: Serbia
Amendments to the Law on Fiscalisation, Law on Tax Procedure and Tax Administration and Transfer Pricing Rulebook were adopted
The Law on Fiscalization Under amendments fiscal obligors are provided with the transition period for harmonization of their operations with the new Law on Fiscalization. Transition period for commercial entities to start with application of Law on Fiscalisation will start on 1 November 2021 and it will end on 30 April 2022. Additionally, amendments stipulate […]
Read more Update: Slovenia
Investments: Elimination of two-stage decision making in the field of environmental protection and nature conservation
Adopted organizational changes Based on changes of the Decree on bodies within ministries, the competence to perform administrative tasks in the field of environmental protection and professional and administrative tasks in the field of nature conservation, except for administrative and professional tasks related to responsibility for prevention or remediation of environmental damage, have been transferred […]
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Karanović & Partners Legally Advised Innovation Fund on Start-Up Accelerator – Katapult
The Innovation Fund, with the support of The World Bank, launched Katapult – a start-up accelerator. Our Partner, Ivan Nonković, and Senior Associate Igor Radovanović were legal advisors to the Innovation Fund during the process and will be ongoing legal advisors. Katapult accelerator will be a new support mechanism for all Serbian start-ups. It will […]
Read more Workshops 2021
Karanović & Partners took part in Annual CEE Finance and Capital Markets Workshops
Karanović & Partners took part in annual CEE Finance and Capital Markets Workshops organised by Freshfields Bruckhaus Deringer. The event was placed virtually from Monday, 11 October to Thursday, 14 October 2021 with speakers on sustainable financing being our Partners, Maja Jovančević, Katarina Gudurić and Petar Mitrović. This year’s workshop focused on Sustainable Transformation in […]
Read more Legislation Update: Serbia
New Amendments to the Law on Prevention of Corruption
The Law on Prevention of Corruption (the “Law”), the key piece of Serbian anti-corruption legislation that started to apply in September 2020, recently received a short set of amendments. Most of the amendments are primarily aimed at correcting the flaws noticed so far in the wording of certain important provisions, and will therefore not largely […]
Read more Global HR Trends Summit in Belgrade
Karanović & Partners Official HR Law Partner of Global HR Trends Summit Belgrade 6
Karanović & Partners is an official HR Law Partner of the Global HR Trends Summit in Belgrade, organized by P World on October 7, 2021, at Metropol Palace Hotel Belgrade. Our Partner, Milena Jakšić Papac, will share her view on how is the New Normal challenging the labour framework & what to do about it. […]
Read more Draft Law on Narcotic Drugs and Psychotropic Substances
North Macedonia: Proposed novelties in the legislation related to cannabis for medical purposes
In recent years, the cultivation of cannabis for medical purposes has been a “hot” topic in North Macedonia. In 2016, the country regulated the procedure for the cultivation and production of hemp and hemp extracts. Since then, in line with publicly available information, over 60 approvals for the cultivation of cannabis for medical purposes have […]
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