April 2020 – mppl Business Law

The Decision of the Court of Justice of the European Union: The possibility to eliminate the statutory interest in a credit agreement concluded in a foreign currency, in the situation where the credit institution did not assess the consumer’s creditworthiness (Case C-678/18 OPR-Finance vs. GK)

LEGISLATIVE CONTEXT The Court’s decision followed a request for a preliminary ruling concerning the interpretation of articles 8 and 23 from Directive 2008/48/EC on credit agreements for consumers. (the “Directive”). The competent court from Czech Republic requested a clarification as to whether the aforementioned articles preclude national legislation (Czech legislation) which specifies that the penalty […]

The Commission grants relief from customs duties and VAT when importing medical equipment from non-EU states for fighting against the COVID-19 pandemic

Legislative Context Regulation (EC) No 1186/2009 setting up a Community system of reliefs from customs duty provides the possibility of granting tax relief in special circumstances, respectively in the aid of disaster victims, subject to a decision by the Commission.

VAT refund based on a subsequent tax inspection

During the state of emergency and for a period of 30 days after, VAT refunds will be made based on a subsequent tax inspection, noting that there are some exceptions to this temporary rule.

Financial statements’ approval

Until 29 May 2020, the companies should file with the relevant tax authorities their approved financial statements for 2019. To this end, the general meeting of shareholders should be convened and held for approving the statements.