SeeNext Regional Report
Renewable Energy in Southeast Europe: 2024 Edition Report
The report is available for downloading here. SeeNext, a business intelligence and news provider, has recently released the 2024 edition of the report titled “Renewable Energy Industry in Southeast Europe: The Next Challenge.” This comprehensive report delves into the advancements made by Bulgaria, Croatia, Greece, Romania, Serbia, and Slovenia in terms of integrating energy […]
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Montenegro Update
Montenegro’s Gambling Task Force: Safeguarding Public Interests and Enhancing Oversight
Following recent amendments to the Law on Gambling, the Government of Montenegro took another significant step on 22 February 2024, by creating the Coordination Task Force for Protecting and Enhancing Public Interest in Organizing Gambling Activities (“Gambling Task Force”). Spearheaded by Mr. Momo Koprivica, the Deputy Prime Minister of Montenegro and President of the Gambling […]
Read more Tax News: Serbia
Annual Average Salary for 2023 is Published
The Statistical Office of the Republic of Serbia has released the 2023 annual average salary per employee, which amounts to RSD 1,423,188 (approx. EUR 12,160). Individuals earning more than three times the average annual salary, i.e., RSD 4,269,564 (approx. EUR 36,480) are subject to the annual personal income tax (Annual Tax). The Annual Tax rate […]
Read more AI Models and Copyright Lawsuit
The New York Times sues OpenAI and Microsoft for Copyright Infringement in AI Models Development
Artificial intelligence (“AI”) has been present in our lives for a while now, but it became a buzzword when OpenAI introduced ChatGPT to the public. Therefore, the lawsuit against OpenAI and the datasets used by ChatGPT deserve more attention than other similar cases. The New York Times Company (“The Times”) has initiated legal proceedings against […]
Read more Legislation Update: Albania
New Draft Law on Competition: Exploring Key Amendments
Competition law reform in Albania is underway, marked by several important changes to Law no. 9121, dated 28.07.2003, “On Protection of Competition” (“Competition Law”). Within the context of harmonizing with the EU acquis, last November, the Albanian Competition Authority (“ACA”) launched a public consultation phase for the proposed amendments to the Competition Law (“Draft Law”). […]
Read more Banking & Finance Update
GGF Provides a New EUR 50 Million Loan to UniCredit Bank Serbia for Supporting Renewable Energy Projects
We are pleased to announce that Karanovic & Partners supported the Green for Growth Fund (GGF) in the new strategic loan to UniCredit Bank Serbia. The EUR 50 million facility will be used to finance utility-scale renewable energy projects in Serbia with a focus on solar and wind. GGF stated that this initiative marks a […]
Read more Arbitration event with VIAC and CMS
Arbitration Matinée for Legal Experts Held in Belgrade
Karanović & Partners hosted another successful event for legal professionals interested in arbitration and dispute resolution. Arbitration Matinée, aimed at in-house legal counsels, executives, and other legal professionals, was held on 22 February in Belgrade and was attended by more than 60 participants who had a unique chance to gain direct insight into the arbitration […]
Read more Karanovic Partners and ELG joint success
Energy Law Group Ranked as Band 1 Network by Chambers Global 2024
Energy Law Group is ranked as Band 1 legal network in Projects & Energy Europe-wide by Chambers Global 2024. Karanovic & Partners legal practice is active participant of ELG for years, covering seven jurisdictions with its cooperating law offices. Energy Law Group (ELG) is the most extensive network of legal experts in energy, mining and […]
Read more Legislation Update: Albania
Amendments to Law on Strategic Investments: Deadline for Applications Extended until December 2027
The Law no. 55/2015 “For strategic investments in the Republic of Albania”, determines the procedures and rules applied by state bodies for the examination, approval, and support by the Albanian government of strategic investments in Albania, both domestic and foreign. The deadline for obtaining ‘Strategic Investment’ status, after being postponed several times, expired on 31 […]
Read more Chambers and Partners Global Rankings Update
Karanovic & Partners Ranked Among Top-Tier Law Firms in the Chambers Global Guide for 2024
We are proud to announce that Karanovic & Partners is once again listed as a top-ranked legal practice in the latest Chambers Global Guide ranking. Karanovic & Partners legal practices and its cooperating lawyers from Serbia and North Macedonia have been ranked as Band 1, Bosnia and Herzegovina and Montenegro have been ranked as Band […]
Read more Legislation Update: North Macedonia
News from North Macedonia: President decided against signing the Proclamation on the Amendments of the Law on Games of Chance
On 13 February 2024, the President of North Macedonia (“President”) announced that he decided against signing the Proclamation for the Promulgation of the Law on Amending and Supplementing the Law on Games of Chance and Entertainment Games (“Proclamation”), which the Assembly of North Macedonia (“Assembly”) adopted at the session held on 7 February 2024. The […]
Read more k/ AI issue
AI, Big Data and Privacy: (Fr)enemies?
Once considered a dystopian concept, artificial intelligence and big data swiftly settled down in everyday lives of many. As all great technological developments always come hand in hand with significant legislative changes, or at least attempts thereof, this case is no exception. Innovation typically tends to collide with concerns, leading to intense talks and negotiations […]
Read more Navigating FX Reportings in Serbia
Reporting on FX Operations in Serbia: Common Mistakes Leading to Misdemeanour Liability
Under the Serbian Law on Foreign Exchange Operations and its accompanying bylaws, Serbian residents have various reporting obligations towards the National Bank of Serbia (“NBS”), which is competent for controlling foreign exchange (“FX”) operations of residents and non-residents. It is not rare in practice that companies operating in Serbia are not aware of (all) such […]
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Enforcement Activities of the Largest Competition Regulators in AI
Effective enforcement of competition rules in the AI world is on the horizon. Competition regulators around the world are closely monitoring the advancement of AI and the competitive landscape across various facets of AI. The European Union has invested significant efforts in regulating AI and creating the landmark EU AI Act. The relevant institutions have […]
Read more Legislation Update: Slovenia
Changes of the VALUE ADDED TAX ACT (ZDDV-1) in Slovenia from 1 January 2024
In a recent update to the VAT Act in Slovenia, notable amendments have been introduced, particularly focusing on services in the public interest. Article 42(1)(5) of the VAT Act has changed, emphasizing VAT exemptions exclusively for services provided within activities deemed in the public interest. The amendment concerns exempt services in the public interest, as […]
Read more Legislation Update: Albania
Albania Implementing New Income Tax Law
Albania has officially implemented law no. 29/2023, dated 30.03.2023 “On Income Tax”, effective starting from 1 January 2024; repealing and replacing law no. 8438, dated 28.12.1998 “On Income Tax”, as amended. Despite successive amendments over the years, law no. 8438 is deemed outdated and inadequate in addressing the contemporary principles and methodologies associated with personal […]
Read more Balkan Experts on Green Agenda
Karanović & Partners at the Balkan Solar Summit 2024
Balkan Solar Summit 2024, one of the leading conferences in the Balkans, dedicated to the promotion of green energy and environmental protection, took place in Banja Luka on 8 and 9 February. It was aimed at connecting key industry players, and business and political leaders to share their visions and experiences. The event was opened […]
Read more k/ AI issue
Competition for AI Inputs and Resources
The transformative potential of generative AI extends across various industries, reshaping the way we live and work. These changes will unfold rapidly, exerting a significant impact on competition and consumers. Consequently, there is a pressing need to proactively monitor and regulate these changes from the outset, employing the most effective regulatory frameworks. The development of […]
Read more Legislation Update in North Macedonia
Significant Amendments to the Law on Games of Chance and Entertainment Games Adopted in North Macedonia
On 7 February 2024, the Assembly of North Macedonia adopted a sizeable number of amendments to the Law on Games of Chance and Entertainment Games (“Law”). One of the key amendments of the Law relates to all venues which host gambling activities such as betting shops, slot machine clubs, indoor raffles, and electronic games, which […]
Read more Tax News: Montenegro
Montenegro Adopts Amendments on the Law on Corporate Income Tax (CIT Law)
On 29 December 2023, the National Assembly of Montenegro adopted amendments to the CIT Law (Amendments). Amendments came into force on 1 January 2024. These Amendments bring the Montenegrin tax framework in line with EU tax legislation, particularly focusing on the EU Council’s Directive 2009/133/EC, which outlines a unified taxation system applicable to mergers, divisions, […]
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