Tax News: Montenegro
Amendments to the Montenegrin Law on Corporate Income Tax (CIT Law)
In November 2023 the Government of Montenegro proposed amendments to the CIT Law (Proposal). Currently undergoing public debate, the Proposal is designed to bring the Montenegrin tax framework in line with EU tax legislation, particularly focusing on the EU Council’s Directive 2009/133/EC. This directive outlines a unified taxation system applicable to mergers, divisions, asset transfers, […]
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Insights from the Regional Workshop in Sarajevo
Unveiling Challenges in Competition Law Enforcement Across SEE Countries
On 28 November, competition law experts from Bosnia & Herzegovina, Croatia, and Serbia gathered at the Faculty of Law, University of Sarajevo, for a workshop addressing “Challenges to Competition Law Enforcement in SEE Countries”. The event was organized as part of the collaborative project Jean Monnet Center of Excellence and the South: East European Competition […]
Read more Serbian Retail Parks Agreement
BIG CEE and RC Europe Finalize Deal for NEST Obrenovac and NEST Kraljevo
BIG CEE and RC Europe have successfully concluded an agreement for the sale and purchase of two retail parks in Serbia – NEST Obrenovac and NEST Kraljevo. With a GLA of 11,000 m2, NEST Obrenovac, and NEST Kraljevo with a GLA of 9,500 m2, both boast a full occupancy rate of 100%. Our Senior Partner […]
Read more Serbia Hospitality Update
Preparing for EXPO 2027: Subsidies for the Hospitality Industry in Serbia
In efforts to revitalize the hospitality industry and boost tourism, the Serbian Government adopted changes to the Decree on Determining the Criteria for Granting Incentives to Attract Direct Investments in the Hotel Accommodation Services Sector (“Decree”). The Decree is aimed at stimulating the development of hotels and comes as a direct response to the growing […]
Read more Regional Tech Investments
EBRD Invests in M Plus Croatia
The European Bank for Reconstruction and Development (EBRD) has recently finalized an investment agreement with Croatia’s Mplus Group (Meritus ulaganja d.d.). The agreement outlines an investment of €60 million into M Plus Croatia d.o.o., a key subsidiary responsible for consolidating various businesses within the group’s business process outsourcing (BPO) segment. These services span across 57 […]
Read more North Macedonia: Coal-Free Initiative
North Macedonia’s Coal Exit: EBRD and World Bank Support a 3 Billion Euro Initiative to End Coal Dependency in North Macedonia
The European Bank for Reconstruction and Development (“EBRD”) and the World Bank are among the international financial institutions spearheading a 3-billion-euro plan to wean North Macedonia off its reliance on coal. The “Just Energy Transition Investment Program” (JET-P) plan follows the footsteps of several other countries in efforts to retire coal power plants, with the […]
Read more Data Science Summits in Belgrade
AI Horizons: Insights from Belgrade’s Data Science Conference
Our Senior Associate Nikola Kliska recently attended the Data Science Conference in Belgrade on 21 and 22 November 2023. Prior to the conference, the Data and AI Summit took place., where representatives from Microsoft, Revian, and numerous data, AI, and ethics advisors shared their views through table topics. Most AI enthusiasts concluded that artificial intelligence […]
Read more BIG CEE Secures an EBRD Loan
District Center doo Beograd and PKS-LATEX-HLC doo Čačak Signs Debt Package with EBRD
BIG CEE B.V. has signed a debt package of up to EUR 100 million with the European Bank for Reconstruction and Development (EBRD), for boosting the development of green commercial real estate in the Western Balkans. The initial projects that will be financed include a EUR 27.6 million loan, given to District Center doo Beograd […]
Read more An Event in Collaboration with VIAC and LAC
Optimizing Commercial Disputes: Insights from Ketler & Partners Business Breakfast
On 16 November, our colleagues from Ketler & Partners, member of Karanovic, organised a Business Breakfast on the effective resolution of commercial disputes in cooperation with the Vienna International Arbitral Centre (VIAC) and Ljubljana Arbitration Centre (LAC). The event took place in the Best Westen Premier Hotel Slon in Ljubljana, Slovenia. The event aimed to […]
Read more ICC Serbia Event
Advancing Commercial Dispute Resolution through an Arbitration Training
On November 16, 2023, the International Chamber of Commerce (ICC) Serbia organized a comprehensive training session at the Chamber of Commerce and Industry of Serbia on “Arbitration as a Mechanism for Resolving Commercial Disputes”. Over 40 participants, including representatives from small, medium, and large companies, banks, lawyers, and others, attended the session. Led by our […]
Read more North Macedonia and Serbia Fast-Track Rail Connection
Bridging Borders: North Macedonia and Serbia to Sign Memorandum for Construction of a Fast Railway
On Friday, 17 November, the Minister for transport and communications of North Macedonia, Mr Blagoj Bochvarski, and the Minister for construction, transport and infrastructure of Serbia, Mr Goran Vesić, signed a Memorandum for the Construction of a Fast Railway from Niš to Skopje. The project represents a significant collaborative effort between the two countries, for […]
Read more 18th Business and Regulation Conference
Evolving Business Horizons: Annual Compliance & Business Regulation Conference Key Takeaways
On 14 November 2023, Karanovic & Partners hosted the 18th annual Compliance & Business Regulation Conference at Hyatt Regency Hotel, Belgrade. During this event, we unveiled the 17th edition of our publication, Focus on Competition. Our Managing Partner Darko Jovanović delivered a welcoming speech, reflecting on the conference’s beginnings: “In 2006, we started our conference […]
Read more Tax News: Serbia
Personal Income Tax Incentives Deadline Extended
The Serbian National Assembly has adopted amendments to the Law on Personal Income (PIT Law) and the Law on Mandatory Social Contributions (SSC Law) extending the deadlines for payroll incentives. These amendments concern employers engaging newly employed individuals, allowing such employers to use these incentives until the end of 2024. The initial deadline was set […]
Read more Renewable Energy in Serbia
Alibunar I Wind Farm Started Powering the Serbian Grid
Photo: Rudis In October 2023, the Alibunar I wind farm was connected to the grid and started operations by delivering the first quantities of produced energy to the grid. Alibunar I wind farm consists of three 3 MW wind turbine generators located near Vršac. The wind farm was constructed by Rudis, the leading engineering […]
Read more Highlights from FIC's Latest Session
FIC Insight: Exploring Safety and Health Legislation in Business
On 1 November, the Foreign Investor Council (FIC) hosted an event focusing on “Safety and Health at Work Legislation” as part of its informative series, FIC Insight. Our Senior Counsel, Jelena Ašanin, joined industry experts Marijan Đukić from Yettel and Vera Božić Trefalt, OHS Expert, contributing as speakers. The session delved into critical aspects such […]
Read more Employment Law Panel
Employment Law Redefined: Insights from IBA Annual Conference 2023 Featuring Karanovic & Partners
As part of the IBA Annual Conference in Paris, France, our Partner Milena Jakšić Papac, head of the Employment Practice Group, contributed as a speaker on 1 November. She participated in the panel titled “The employment relationship redefined: change of the foundation of employment laws.” The session revolved around the extensive impact of COVID-19 on […]
Read more Tax News: Serbia
Free Trade Agreement between the Republic of Serbia and the People’s Republic of China
The Republic of Serbia and the People’s Republic of China officially signed a Free Trade Agreement (FTA) on 17 October 2023. The FTA represents grounds for the creation of the free trade zone among others by facilitating the trade of goods in accordance with GATT 1994. Most importantly, the FTA: envisages national treatment of goods […]
Read more Navigating the IP Landscape
Exploring Intellectual Property: Business Breakfast with SGA
On 24 October, Karanovic & Partners hosted the business breakfast, co-organized with the Serbian Games Association (SGA), dedicated to the trending topic of intellectual property (IP), its usage, and protection. The event commenced with a presentation by our Senior Counsel Jelena Ašanin, who provided the audience with a comprehensive introduction to the fundamentals of IP. […]
Read more Bosnia and Herzegovina: Corporate News
Burger King Franchise Debuts in Sarajevo
Photo: Purple Key Agency The first Burger King restaurant has opened its doors in Sarajevo, Bosnia and Herzegovina. Our team, led by Senior Associates Amina Đugum Brkanić, Lejla Ademović, and Ferid Kapidžić, played vital roles in introducing this renowned franchise to our region, providing the client with legal advice during the process of market […]
Read more North Macedonia: Infrastructure Projects
Tender Opportunities in North Macedonia
Rail Corridor VIII – Phase II Project, Lender’s Monitoring Advisor The European Bank for Reconstruction and Development (“EBRD”) seeks a Lender’s Monitoring Advisor (“LMA”) who will monitor the implementation of rail infrastructure projects in North Macedonia. The intention is to ensure timely and within-the-budget implementation of the investments. The estimated EUR 500,000 contract will […]
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