On 23 February, the European Commission (“Commission”) opened an in-depth investigation, to verify whether the measures notified in the context of the restructuring of the Czech national flag carrier Czech Airlines are in line with the EU rescue and restructuring aid guidelines. The measures comprise a loan of CZK 2.5 billion (around €94 million) granted by the State-owned undertaking Osinek under allegedly preferential conditions, its later de-collateralisation and transformation into equity capital and a potential guarantee for the purchase of an airplane.

The EU Decision

The EU Commission has held on January 26, 2011 that the so called restructuring privilege offered by German corporate tax law, which allows corporations in a distressed financial situation to continue to set off tax loss carry forwards against future profits even if their shareholder structure has substantially changed, is incompatible with EU State Aid provisions.

The recipients, which have applied the restructuring privilege, are now threatened with the reclaim of the tax benefits.

Doing Business in Russia 2015 Doing Business in Russia 2015 Baker & McKenzie - CIS, Limited Moscow Office White Gardens, 10th Floor 9 Lesnaya Street Moscow 125047, Russia Telephone: +7 495 787 27 00 Fax: +7 495 787 27 01 [email protected] St. Petersburg Office BolloevCenter, 2nd Floor 4A Grivtsova Lane St.

Since gaining its independence in 1993, the Slovak Republic has adopted new laws at a rapid pace. As a country in transition, its legal system continues to develop.

CSMS# 16-000814 dated September 13, 2016, released scenarios (updated on September 8, 2016) to the Hanjin Shipping Co. bankruptcy filing. Hanjin Shipping Co., one of the world’s largest shipping lines, recently filed for court receivership in South Korea. In anticipation of possible disruptions due to Hanjin Shipping vessels or cargo arriving to U.S.

U.S.

Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Baker & McKenzie Renaissance Business Center 24 Bulvarno-Kudriavska (Vorovskoho) St.

China Tax Monthly – 2015 Midyear Review Beijing/Hong Kong/Shanghai In this midyear issue of the China Tax Monthly, we present the most interesting and most important regulatory changes and administrative cases from the first six months of 2015. Two major trends are worthy of note. First, the PRC tax authorities are continuing to strengthen transfer pricing enforcement and anti-avoidance practice. Second, though cross-border restructurings still face challenges, China offered various preferential tax policies to domestic corporate restructurings during the first half of the year.

DBI 2017 - A5 With Bleed.indd 3 20.02.2017 8:22:56 Doing Business in Russia 2017 Baker & McKenzie - CIS, Limited Moscow Office White Gardens, 10th Floor 9 Lesnaya Street Moscow 125047, Russia Telephone: +7 495 787 27 00 Fax: +7 495 787 27 01 [email protected] St. Petersburg Office BolloevCenter, 2nd Floor 4A Grivtsova Lane St.

International Trade Compliance (Covering Customs and Other Import Requirements, Export Controls and Sanctions, Trade Remedies, WTO and Anti-Corruption) In This Issue: World Trade Organization (WTO) World Customs Organization (WCO) Other International Matters The Americas - Central America The Americas - North America The Americas - South America Asia-Pacific Europe and Middle East Africa Trade compliance enforcement actions - import, export, IPR, FCPA Newsletters, reports, articles, etc. Webinars, Meetings, Seminars, etc.