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  25.09.2023

  Ukraine

  Ukraine advances legislation for state support of projects with significant investments

  In recent years, Ukraine’s government has made attracting investments one of its top priorities. As part of this effort, the Parliament of Ukraine adopted the Law “On Amendments to Certain Legislative Acts of Ukraine on Implementation of Investment Projects with Significant Investments”, which came into force on 17 September 2023. The Law expands financial and operational incentives to companies investing at least EUR 12 million, thus contributing to reconstruction and recovery of Ukraine.The key changes introduced are the following:reducing the minimum required amount of investment...

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  14.09.2023

  Ukraine

  Ukraine parliament moves forward with competition law reform

  On 9 August 2023, the Parliament of Ukraine adopted the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on Improving the Activities of the Antimonopoly Committee of Ukraine”.This Law, a first step in competition law reform, brings Ukraine’s antimonopoly regulations closer to EU law following the nation’s obligations under its Association Agreement with the EU.The Law primarily focuses on:dawn-raids and broadens the scope of the Antimonopoly Committee of Ukraine (AMCU) powers;the AMCU’s independence;significant amendments to AMCU investigation procedures;introduction...

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  01.09.2023

  Ungarn

  Summary on the employment of guest workers in Hungary

  On 1 November 2023, Act L of 2023 on the Employment of Guest Workers in Hungary will enter into force, introducing a new type of residence permit (i.e. the guest worker residence permit). The government and ministerial decrees for the detailed rules of the Act have not yet been published, but the following is a summary of what is known about the legislation.Who can apply for a guest worker residence permit?Citizens of countries that are not neighbours of Hungary and located outside the European Economic Area. (These countries will be listed in the relevant ministerial decree). The permit can be...

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  30.08.2023

  International

  CBAM Implementing Regulation and Extensive Additional Reporting Guidance Published

  Earlier this month, the European Commission (“EC”) adopted an Implementing Regulation (“IR”) and released extensive Guidance Documents (“Guidance”) on the practicalities of reporting requirements for the transitional phase of the EU’s Carbon Border Adjustment Mechanism (“CBAM”) framework. This first material phase of CBAM will commence on October 1, 2023 (“Transitional Period”). The Guidance complements the IR in providing vital instructions for both installation operators (exporters) outside the EU and importers of CBAM goods within...

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  06.07.2023

  Europe

  The EU’s Carbon Border Adjustment Mechanism: An Overview

  IntroductionThe EU Carbon Border Adjustment Mechanism (“CBAM”) entered into force on 5 June 2023. It aims to reduce carbon emissions and also discourage producers from moving their production outside the EU by incentivising the decarbonisation of non-EU production processes. CBAM aims to mirror the EU’s carbon pricing system and ensure that imported goods meet similar environmental standards as those produced within the EU.This Law-Now outlines the various important aspects of CBAM, in a practical and effective way to assist you in determining if and how it could...

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  04.07.2023

  Ukraine

  Ukraine resumes large-scale privatisation

  On 22 June 2023, the Law of Ukraine No. 3137-IX “On the Introduction of Amendments to Some Legislative Acts of Ukraine Regarding the Optimisation of the State Property Fund of Ukraine, Improvement of State Property Management and Effectiveness of the Sanctions Policy” came into effect with provisions of this law related to the management of sanctioned assets to be effective on 22 September 2023.The law enables large-scale privatisation of state assets and state companies while martial law is in place, enhances the centralisation of the State Property Fund of Ukraine, extends the powers...

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