Digitalizing the Business World of Serbia

Digitalizing the Business World of Serbia

The National Assembly of the Republic of Serbia has, on 8 June 2018, adopted the Amendments to the Companies Act (“the Amendments”). As already observed, the provisions set out under the Amendments represent an answer to adjusting to the current business needs in Serbia (http://www.sog.rs/the-amendments-to-the-companies-act-of-serbia-a-welcome-change-for-doing-business-in-serbia/).

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Serbian Government adopts the new Data Protection Act proposal

Serbian Government adopts the new Data Protection Act proposal

Current Serbian Data Protection Act (DPA) dates back to 2008, including some minor changes that followed. Given the rapid change of technology and the ever-evolving ways personal data are being processed, it is safe to say that our current DPA did not stand the test of time. Moreover, it was characterized as flawed by the domestic data protection experts since the very moment of its adoption.

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More Steps Forward to EU Health Protection Regulations

More steps forward to EU health protection regulations

The Rulebook on Registers governing by Serbian Chambers of Commerce (the Rulebook) has been adopted. In accordance with the Serbian Medical Devices Act, three new registers will be established:
1) Register on Issued Licenses for Medical Devices Wholesale;
2) Register on Wholesale for Importing Medical Devices from non-EU countries and
3) Register on Specialized Stores of Medical Devices.
Those registers will collect data delivered by ministry competent for health, and upon the request of the person who has a legal interest, the register will issue confirmation on collected data.

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Lobbying in Serbia – Empowering the Stakeholders in the Legislative Process

Lobbying in Serbia – Empowering the Stakeholders in the Legislative Process

The Serbian Government has adopted the Bill on Lobbying (the Bill) and submitted it to the Serbian Parliament. The Bill is expected to be in the parliamentary debate in the Parliament’s Fall Session.
The need to enact such legislation stems from Serbia’s EU accession process and the Chapter 23. It has also been recommended by the Council of Europe’s GRECO (Group of States against Corruption) organization.

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Commercial Court of Appeals Improves NPL Market by Aligning Interpretation of Litigation Act with Regional Practice

Commercial Court of Appeals Improves NPL Market by Aligning Interpretation of Litigation Act with Regional Practice

Commercial Court of Appeals has finally aligned its court practice related to change of the litigant in the procedure in case of assignment of the claim, with the regional court practice, thus making the NPL market in Serbia more attractive.
According to Article 204 of the Litigation Act, assignment of a claim during litigation does not affect the course of litigation. So far, the change of the litigant was possible only in case all parties consented thereto. However, in case either party opposed the change of litigant, the litigation continued regardless of the assignment of the claim and the resulting judgment had an effect towards the acquirer of the claim.

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Changes to the Flat-Rate Taxation System on the Horizon?

Changes to the Flat-Rate Taxation System on the Horizon?

National Alliance for Local Economic Development (“NALED”) has submitted its proposal for the changes of the flat-rate taxation system to the National Coordination Body for Battling Underground Economy (“NCB”). This Government body will review the proposed changes, which would substantially alter the system of flat-rate taxation of independent contractors (i.e. individual entrepreneurs) as it exists now, and have a particular impact on certain industries which rely on it to a great extent, such as the IT sector.

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The Saga of the Serbian Banking Market Consolidation

The Saga of the Serbian Banking Market Consolidation

Société Générale’s most likely departure from Serbia is not going to be the only major news on the Serbian banking market this year. The answer to the question who will stay and who will expand its business depends on the business conditions in Serbia. Yet, in view of the market’s size, this is one is not the sole reason in determining the global strategies of international banking groups.

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Amendments to the Serbian Employment of Foreigners Act

Amendments to the Serbian Employment of Foreigners Act

On 28 June 2018, the National Assembly of Serbia adopted amendments to the Employment of Foreigners Act (“the Act“). These amendments, which simplify the procedure for issuing work permits in order to further develop a favorable business environment and attract foreign investments, will come into force on 7 July 2018.

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The Amendments to the Companies’ Act of Serbia – A Welcome Change for Doing Business in Serbia?

The amendments to the Companies’ Act of Serbia- A welcoming change for doing business in Serbia?

The National Assembly of the Republic of Serbia on 8 June 2018 adopted the much-awaited Amendments to the Companies Act (hereinafter referred to as: “the Amendments”). The Amendments represent an important step towards the harmonization of the Companies Act with the EU law as well as an important step towards adjusting to the contemporary business needs in Serbia.

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GDPR Compliance Process for Health Care Providers

GDPR Compliance Process for Health Care Providers

Confidentiality is a key aspect of health care provision, and health professionals must take extraordinary care in order to protect their patient’s privacy.
GDPR introduces significantly stricter general rules for personal data processing in comparison to the previous ones and its extraterritorial application for non-EU data controllers in cases which we previously wrote about. The strictest data processing rules relate to personal data concerning health, i.e. related to physical or mental health of a natural person, including the provision of health services, which reveal information about one’s health status.

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