On 29 June 2022, the Council and the European Parliament reached a provisional agreement on the text regarding the European Commission's proposal for a recast of Regulation (EU) 2015/847 (also referred to as the Transfer of Funds Regulation ("TFR")).

The Government of the Republic of Serbia enacted the Decree on Establishing the Investment Program “Recovery and Development” (the “Program”) to establish a new credit line for the allocation of favourable credit funds to entities for the implementation of new investments, which will accelerate the recovery and growth of economic activity in the Republic of Serbia in difficult economic conditions caused by the SARS-CoV-2 virus.

Under the CIT Act, taxpayers are normally required to file the TPR form and a statement on the preparation of the local file for 2021, by the end of the ninth month after the end of the financial year.

The board of the Banking Regulation and Supervision Agency (“the Board”) has announced macro-prudential measures over the course of this weekend, consisting of (i) the Board Decision regarding prohibition of commercial Turkish Lira loans to corporate borrowers subject to independent audit dated June 24, 2022 (“Board Decision”) and (ii) press release determining the scope and implementation of the Board Decision dated June 26, 2022 (“Press Release”). Accordingly, until a new decision to the contrary is introduced by the Board or the Central Bank, corporate borrowers being subject to independent audit and holding foreign currencies above certain thresholds will no longer be allowed to borrow commercial cash loans in Turkish Lira.

Against the background of a continuous transformation of the realities surrounding us, the European Union institutions have been noted to show an effervescence in their actions meant to cover the gap between reality and the legislative framework. This gap has grown with the evolution of digital technologies. Thus, the legislative framework has proven insufficient for an adequate protection, for example, of content published or shared in any way in the online environment.

On 25 June 2022, the long-awaited Rulebook on Keeping Records and Reporting on Gender Equality Implementation entered into force, and it was published in the Official Gazette of RS no. 67/2022 (“the Rulebook”). The respective piece of regulation prescribes the template on which employers, public authorities and gender equality bodies record data categorised by gender, as well as the content and manner of submitting reports on implementation of gender equality within the stated entities, as well as political parties and syndicates.

Turkish citizenship can be acquired in several ways, including by marriage or employment or living for a certain period of time. Another option is making investment in the country. Accordingly, those who fulfil the requirements set out in the law can easily get the citizenship after filing the required documents.

Another milestone towards the approximation of the legislation with the EU Acquis has been completed by Kosovo. The new Law No. 08/L-056 “On the Protection of Competition”, entered into force on 22 June 2022. The Kosovan legislators in the drafting of the new law benefited from the technical assistance of EU funded project “EU support for the Kosovo Competition Authority and State Aid Commission.

Why do entrepreneurs choose Estonia?

In July last year, the new Building Act No. 283/2021 Coll. came into force. It’s the result of a reform of public building law that had been in preparation for several years. But it’s not certain that builders will follow it in its current form.

As a result of standard monitoring of public procurement procedures contracts, in July 2021, the Bulgarian government announced that in the past two-and-a-half years, roughly BGN 8.6 billion (EUR 4.4 billion) were spent on in-house awards of public procurement contracts in Bulgaria.

On February 15, 2022, the Ukrainian Parliament adopted draft Law No. 5090 on Amendments to the Budget Code of Ukraine on the Regulation of Budgetary Relations in the Implementation of Contracts Concluded within the Framework of Public-Private Partnerships, Including Concession Contracts (Law 5090). The law is vital for the functioning of public-private partnerships (PPP) in the road and highway reconstruction sector since it enables public partners to provide guarantees of fulfillment of their long-term obligations under relevant PPP projects.

The Law on Public-Private Partnership and Concessions of the Republic of Serbia (Law) defines public-private partnership as a dynamic and developmental process of financing infrastructure projects, which represents a form of cooperation between government bodies and the private sector, intending to modernize the infrastructure and improve the provision of public services.

The development of road infrastructure is important for the Macedonian authorities. The Government of the Republic of North Macedonia (RoNM) analyzed and undertook different approaches for the realization of infrastructure projects in the past. During the last few years, the Assembly of the RoNM (Assembly) has adopted two laws that stipulated additional regimes for the realization of infrastructure projects.

Aware of the fact that an effective system of infrastructure creates the preconditions for the normal and undisturbed functioning of the wider social system, Montenegro has made significant efforts in recent years, both in terms of the normative definition of the sector and in finding optimal mechanisms for national infrastructure. In many European countries, a public-private partnership represents the optimal mechanism for national infrastructure, which has considerable advantages and is being ever more used.

The growth rate of public-private partnerships (PPPs) in Greece, which commenced almost four years ago and retained the same dynamics throughout the COVID-19 era despite the internationally unfavorable economic environment, remains undoubtedly impressive.

Public infrastructure projects in Austria and in particular PPPs are undergoing several changes. In the last few years, the focus of PPPs was on social infrastructure like schools, hospitals, and other clinics. Many of them have been structured as so-called Betreibermodelle, i.e., a form of build, finance, and operate models. However, the focus is clearly shifting towards infrastructure for digitalization and climate change.

While Polish public entities continue to express an ever-increasing interest in public-private partnerships (PPP) as a method of discharging public tasks, PPP activity has remained disappointingly slow in recent years. As can be seen from the 2009-2021 PPP Market Report by the Ministry of Regional Funds and Policies, just 24 procedures to select a private partner were launched in 2021, with PLN 627 million on the table, resulting in a paltry ten PPP contracts signed, worth PLN 172 million all told.