At the end of January, the Ministry of Finance invited representatives of business associations to submit their views regarding the possibility of a reform aiming to increase the progressivity of salary taxation. The Ministry emphasized that the framework for the change refers only to salary tax and not to contributions for mandatory social insurance, as well as that any proposals should produce effects that are de minimis budget neutral, both at the level of the entire economy and at the level of local governments.

Slovenia and Croatia adopted the Minimum Tax Act (MTA). The MTA implements Directive (EU) 2022/2523 to ensure a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the EU. The latter is a consequence of the OECD’s global fight against tax base erosion within the scope of Pillar II.

NKO Partners has advised Manuvia on its acquisition of Serbia's Interea from Iosif Calamar.

BDK Advokati has advised Enlight Renewable Energy and Enlight K-2 Wind on the development and financing of the 94.4-megawatt Pupin wind farm slated for construction in Kovacica, Serbia. Harrisons and, reportedly, White & Case advised lenders Erste Bank AG, Erste Bank Novi Sad, and the EBRD on their EUR 91.4 million financing.

On July 4, 2023, CEE Legal Matters reported that Kinstellar and SOG were teaming up in Serbia through a strategic partnership. Recently appointed Kinstellar Belgrade Managing Partner – and co-head of the firm-wide Financial Institutions sector – Milos Velimirovic shares an insider’s perspective on the move.

The Parliament of Montenegro has adopted again the Law on Amendments to the Companies Act with 43 votes in favor, at the extraordinary session of the Parliament held on January 19, 2024, and the Amendments entered into force on January 23, 2024.

The luxury design company Hermès is facing allegations of engaging in unlawful practices by “tying” the purchase of its popular Birkin bags to the purchase of other luxury clothing and accessory items, as claimed in a class-action lawsuit filed in the US. According to the lawsuit, two California shoppers stated that they were compelled to buy additional Hermès products from various categories such as apparel, scarves, and homeware before being allowed to purchase Birkin handbags from the Paris-based brand.

Kruna Savovic – until recently the Head of the Media and IP Litigation team and a Partner at Zivkovic Samardzic – left the firm in March 2024.

Moravcevic Vojnovic and partners in cooperation with Schoenherr has advised Fifth Quarter Ventures on its recent investment in Cosmic.

Former Gecic Law Partner and Head of Dispute Resolution Jovana Velickovic has launched her own law firm in Belgrade – Velickovic Law – specializing in dispute resolution, labor, and corporate law.

Gecic Law has advised JFE Shoji on a EUR 50 million greenfield investment in Serbia through the acquisition of a 10-hectare land plot in the Indjija industrial zone.

The Single Open Balkans Labor Market, comprised of Serbia, Albania, and North Macedonia, has commenced on Friday, March 1. This means that all citizens of the mentioned countries will be able to obtain employment in any of the countries within this initiative through the simplest procedure possible.

Gecic Law has advised the European Bank for Reconstruction and Development and Enterprise Expansion Fund II on their investment in Vega IT.

Schoenherr has successfully represented Tehnoexport in trademark cancellation proceedings before the EU Intellectual Property Office.

Prica & Partners has appointed Senior Associate Jelena Edelman to lead its new Employees’ Stock Awards department within the firm, to handle foreign corporations’ employee award and saving schemes.

Moravcevic Vojnovic and Partners, in cooperation with Schoenherr, has advised Alstom Transport on the execution of a consulting agreement for the construction of the Belgrade metro.

Last week, the Serbian Commission for Protection of Competition (“Commission”) released two decisions involving the two biggest producers and wholesalers of ground coffee in Serbia – Atlantic Group (“Atlantic”) and Strauss Adriatic (“Strauss”). One decision marked the end of the Commission’s antitrust investigation imposing penalties on Atlantic and Strauss, issued on December 29, 2023 (“Antitrust Decision”), and the other one is the merger control ruling conditionally approving Atlantic’s acquisition of Strauss, issued on February 28, 2024 (“Merger Decision”).

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As we bid farewell to 2023, this time around we turn our attention forward: What is your one main wish for 2024 and what do you see as the biggest potential risk?