In brief On 16 December 2020, Verkhovna Rada (Parliament) of Ukraine ratified the Protocol amending the 1997 Tax Treaty between Ukraine and Austria (“Protocol”). Key takeaways Depending on how quickly Ukraine and Austria exchange diplomatic notes, the changes should affect your business in 2022. Thus, we recommend reassessing your current…
The pandemic has impacted our lives in many ways, but for many of us, one of the most…
Currently, an increasing number of companies is confronted with considerable claims for re-payment of subsidies granted by the LMS for phase I of the Corona short-time work model. The approach of the LMS makes the impression that it intends to take advantage of self-caused legal uncertainties to the clear disadvantage of these companies. Thus, companies should refrain from making premature re-payments.
The Lexitor decision of the ECJ, dealing with the interpretation of the Directive on Consumer Credit Agreements (2008/48/EC), requires the Austrian legislator to amend the Consumer Credit Act (VKrG) and the Consumer Mortgage Act (HIKrG).
This is the fifth in a series of guidance notes on what the ‘Schrems II’ decision means for companies that rely on EU-U.S. Privacy Shield, controller-to-processor standard contractual clauses, SCCs for transfers to controllers, derogations/exceptions to transfer restrictions, and binding corporate rules, as well as what ‘Schrems II’ means for Brexit and what companies can expect with the road ahead on these issues.
In light of the global pandemic, governments across the globe are faced with urgent needs whose immediate coverage is a matter of life and death. Hence, these unusual and uncertain times call for rare and exceptional measures, and without much ado, governments around the globe have provided them. Common to all approaches is the will to enable public contractors to procure the urgently needed supplies to save lives and contain the pandemic without major bureaucratic hurdles.
In the past months, also Austrian companies faced major challenges. Declines in business have made short-time work (Kurzarbeit) and the conversion of staff deployment schemes necessary. Many companies now face the task to implement further staff adjustments. They should be as legally secure, efficient and socially acceptable as possible. In…
In early March 2020, after COVID-19 had already begun its journey of destruction around the world, the European…
In brief The current climate surrounding the COVID-19 crisis requires a significant level of flexibility in contractual relationships.…
The financial markets are experiencing a significant amount of disruption for which there is no precedent. However, in these difficult times it is important that originators, sponsors and securitisation special purpose entities (SSPEs) do not lose sight of their regulatory obligations under Regulation (EU) 2017/2402 (Securitisation Regulation). This short briefing…