On February 8, 2024, the European Commission (“EC”) unveiled an updated Market Definition Notice (“the Notice”). The revision plays a crucial role in the EC’s approach to assessing mergers and antitrust cases by delineating the competitive boundaries and assessing the market power of companies. The Notice extends beyond EU Member States, mandating compliance from Western Balkan countries (“WBs“) aligned with the EU competition law acquis. Namely, all WBs, through the Stabilization and Association Agreements, have committed to enforce the criteria derived from the implementation of competition rules applicable in the EU, in particular from famous Articles 101, 102, 106 and […]
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Gecić Law proudly presents the latest edition of our ESG Chat @ Gecić Law series, we are focusing on the intersection of Environmental, Social, and Governance (ESG) issues within the banking and finance sector. In this interview, we delve deep into the insights and perspectives of a distinguished ESG and CSR expert in Serbia, Sonja Konakov Svirčev, Corporate Social Responsibility, Diversity and Inclusion Manager at Erste Bank Serbia. Our guest expert shares their extensive knowledge of the role and significance of social responsibility within the broader ESG framework. She also emphasizes the strategic importance of socially responsible and sustainable business […]
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Gecić Law iproudly announces a landmark legal triumph in Kosovo, marking a significant achievement in its history. The Independent Media Commission (IMC) in Priština annulled yesterday its decision from October 3, 2023, which had suspended the broadcasting of Arena Channels in its territory, claiming alleged broadcasting of illegal content. The authorities after all reinstated the channels, and cable networks in Kosovo are free to broadcast. Above all, this triumph was achieved through a strategic collaboration with Clifford Chance and Deloitte Legal’s local counsel. The victory indeed highlighted our firm’s dedication to excellence, innovation, and collaborative success in the legal domain. […]
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In a landmark accomplishment, the collaborative efforts of Gecić Law’s ESG and EU Law teams, alongside Shibolet & Co.’s Environment, Sustainability & Climate Change team, in partnership with Sher Consulting & Training, have led to a significant milestone. This achievement marks the successful submission of the first CBAM reports from Israel in accordance with the EU’s new CBAM (Carbon Border Adjustment Mechanism) regulation. This groundbreaking collaboration supports Israeli aluminum, steel, and iron exporters, addressing the challenges of a new era in environmental accountability. Importers successfully submitted their first CBAM reports, covering the fourth quarter of 2023, by the January 31, […]
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It is common for the media to report on the incomes and prize money earned by professional athletes. However, what is less known are the intricacies of their tax obligations. Before delving into sports-related taxation, it’s essential to recognize that the contributions of professional athletes to their countries. These extend far beyond any monetary value that might arise from taxing their income and prize money. Nevertheless, taxes are an inevitable aspect of life, and the sports industry is no exception. Taxing this revenue is always a hot topic, with sports becoming increasingly lucrative and generating substantial sums of money. Most […]
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Gecić Law is pleased to announce yet another win in an antitrust law case in collaboration with Marić & Co Law Firm Ltd. Together, we have obtained a favorable judgment for our esteemed client Arena Channels Group (ACG). In October, we shared news on the case focused on premium football broadcasting within Bosnia and Herzegovina (BiH). The Competition Authority of BiH (CA) initiated an investigation, prompted by Telemach, alleging abuse of market dominance by ACG. After a thorough investigation, the CA dismissed the complaint, concluding ACG’s equitable engagement within the market. The dispute persisted as the initial claimant challenged the CA’s decision. However, the […]
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In latest CBAM news, the European Commission has acknowledged significant technical difficulties impacting businesses for the EU Carbon Border Adjustment Mechanism (CBAM) reporting. These issues stem from a technical malfunction affecting several EU customs systems, including ICS2 and the CBAM Registry. To support declarants facing challenges in CBAM reporting, the Commission has introduced measures to facilitate the process. Starting from February 1, a new feature in the Transitional Registry will allow affected businesses to “request delayed submission”. This provision grants an additional 30 days for submitting their quarterly CBAM report. The Commission has assured that no penalties will apply for […]
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In an era where businesses are increasingly attuned to their environmental and social footprint, the European Union has ushered in a transformative era by introducing the Corporate Sustainability Due Diligence Directive (CSDDD). Anticipated to take effect in 2024, this groundbreaking legislation is poised to reshape the landscape for companies operating within the EU and beyond its borders. At its essence, the CSDDD compels large companies to: Identify, prevent, and alleviate potential adverse impacts on human rights and the environment across their entire value chain, encompassing subsidiaries, suppliers, and downstream partners. Institute a due diligence process integrating risk assessment, grievance mechanisms, […]
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The European Union (EU) has recently made another significant advancement in its commitment to reducing carbon emissions by reaching a provisional agreement on stringent regulations to reduce emissions from trucks, buses, and trailers. These heavy-duty vehicles (HDVs) are known to be substantial contributors to harmful emissions. With the implementation of these new rules, there will be a significant shift towards cleaner and more eco-friendly transportation. What’s changing? Starting in 2030, new HDVs will have to emit 45% less carbon dioxide (CO2) compared to 2019 levels. This target becomes even more ambitious in 2035, with a 65% reduction in CO2 emissions […]
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Yesterday in Skopje, member countries of the Open Balkan initiative took an important step towards enhancing regional economic cooperation. Representatives of Serbia, North Macedonia, and Albania signed two protocols aimed at establishing a free labor market between the member countries of the Open Balkan initiative. These include the Protocol on the Implementation of the Agreement on Conditions for Free Access to the Labor Market in the Western Balkans and the Protocol on Connecting the Electronic Identification Schemes of the Western Balkans Citizens. Representing Serbia, Gojko Stanivuković, the State Secretary of the Ministry of Finance, signed the documents. This demonstrates the […]
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