Mergers and acquisitions (M&A) transactions are both legally and logistically complex. Tax planning is one of the key aspects in nearly all M&A transactions, especially in cross-border deals, as it can help to minimize the tax burden on both the buyer and the seller. Recent developments in Turkish tax law have introduced some new considerations for those transactions. In particular, the taxation of share premium and the end of tax-exempt corporate spin-off for immovable property will have a significant impact on M&A tax planning, potentially increasing the tax burden for the parties.

The IT sector, which is the most innovative area of the 21st century, requires the most innovative tax approaches. Moldova also considered the specific features that distinguish the IT sector and created a specific incentive tax regime for IT firms. In this regard, Law on Information Technology Parks No. 77 of April 21, 2016, regulates the activity carried out by firms that become IT Park residents and grants them the opportunity to apply for a single tax regime.

The European Union has initiated the world’s first carbon border tax, called the Carbon Border Adjustment Mechanism (CBAM). The CBAM Regulation was ratified by EU co-legislators on May 10, 2023, and became legally effective on May 16, 2023 following its publication in the EU Official Journal.

From personal income tax to compulsory social insurance and punitive measures for tax return submission failures, there is a plethora of tax legislation updates that are critical to stay apprised of in Serbia. Tax novelties are, as usual, numerous and perhaps complex to comprehend for someone who is not well versed in tax issues. However, those devoted to running a successful business can greatly benefit by keeping track of tax updates.

The Czech Republic is one of the first countries to have commenced the implementation process of a top-up tax into the tax system. The Czech Top-Up Tax Act is a transposition of an EU Directive (Council Directive 2022/2523 of December 14, 2022) and is based on the OECD BEPS project Pillar Two initiative. It is definitely worth becoming acquainted with the basic principles of this new tax.

How tax residence is determined is one of the key tax issues that dictate in which country an individual’s worldwide income will be taxed. Primarily, tax residence is determined by domicile and center of economic and personal interests. Uncertainty arises when the decision cannot be made on the basis of residence alone and the economic and personal interests are not in the same country.

“Taxation according to income is the most effective instrument yet devised to obtain just contribution from those best able to bear it and to avoid placing onerous burdens upon the mass of our people.” – Franklin Roosevelt.

I’ve always been very interested in trends and statistics, and recently have been looking at potential trends in applications for a legal award. Based on the call for submissions, you can apply in six categories, which include, of course, very trendy topics such as data protection, digital solutions, and ESG, the more traditional ones of M&A and intellectual property, but for the sixth consecutive year, there is a tax law category. Moreover, not only does such a category exist, but the number of applicants is outstanding.

Excellent economic independence, monetary stability, and a steady tax structure in Montenegro, together with the Government’s customs and fiscal incentive measures, are attracting many foreign investors.

In light of the ongoing war with Russia, Ukraine is leveraging technological innovations to fortify its taxation system, ensuring efficiency and transparency. Two notable initiatives – electronic residency and electronic excise tax stamps – will transform how business is conducted and taxes are collected in the country.

The summer of 2024 will mark the starting point of a revolution for VAT payers in Poland. Following global and EU trends, Poland will introduce mandatory structured invoicing for B2B transactions.

The first thing that comes to mind when discussing the tax system in Bosnia and Herzegovina is the complexity of the regulations governing the practical implementation of tax laws. This complexity stems from constitutional provisions that regulate the jurisdiction of institutions at the level of Bosnia and Herzegovina, entities, or even cantonal authorities. Therefore, for a better understanding, it is essential to make a clear distinction between direct taxes (income of individuals, profit of legal entities, property) and indirect taxes (VAT, excise taxes).

The sweeping digital transformation has significantly changed the economic and financial landscape, and at the heart of this change is the emerging phenomenon of cryptocurrencies. With this innovative fusion of finance and technology, the pertinent question of how to tax these new assets arises. Bulgaria, like its global counterparts, is grappling with the complexities of this issue. Dive in for an in-depth look at Bulgaria’s approach to taxing crypto assets.

Redcliffe Partners Partner and Co-Head of Energy Albert Sych talks about the evolution of energy and their role as legal advisors in Ukraine over the last 10 years.

On November 21, 2023, corporate/M&A and private equity experts from Bulgaria, Greece, Hungary, Kosovo, Moldova, Romania, Serbia, Slovakia, Turkiye, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the key developments in the field over the past decade.

Hristov & Partners Partner Dragomir Stefanov talks about the evolution of the practice and their role as legal advisors in Bulgaria over the last 10 years.

PRK Partners Co-Head of Corporate and M&A Milan Sivy talks about the evolution of the practice and their role as legal advisors in the Czech Republic over the last 10 years.

Drakopoulos Managing Partner Panagiotis Drakopoulos talks about the evolution of the practice and their role as legal advisors in Greece over the last 10 years.