This newsletter features a look into notable recent Finnish competition and regulatory case law. New rules on fines and the FCCA's powers introduced to the Finnish Competition Act Concurrently with the implementation of the ECN+ Directive (Directive 2019/1 of the European Parliament and of the Council), the Finnish Parliament approved a set of other notable amendments to the Finnish Competition Act at the end of May 2021 ...
This newsletter features a look into ongoing Finnish legal reforms and recent law. The Finnish Competition and Consumer Authority's jurisdiction in merger control to be expanded by lowering turnover thresholds The Finnish Ministry of Economic Affairs and Employment published in June 2022 a draft government bill on lowering the Finnish merger control turnover thresholds ...
This newsletter features a look into notable recent Finnish competition and regulatory case law.Recent developments in Finnish merger control: A more hardline approach to divestiture commitments The Finnish Competition and Consumer Authority's (FCCA) merger control team had a busy year ...
This newsletter features a look into Finnish competition law developments and recent enforcement practice. 2023 starts with reforms in Finnish merger control Lower turnover thresholds enter into force Revised merger control turnover thresholds entered into force in Finland on 1 January 2023. The thresholds are applicable to all transactions signed on or after this date ...
This newsletter features a look into notable recent case law and other developments in Finnish competition law and other regulatory issues. Finnish Market Court gives its first detailed ruling on joint bidding In November 2023 the Finnish Market Court gave its judgment concerning a case on joint bidding in the field of public transport. This was the first time a Finnish court has in detail examined the lawfulness of joint bidding ...
This is an important year on the taxation front. New rules restrict interest deductions and increase the transfer tax related to the sale of shares in housing and real estate. Additionally, two tax incentives support research and development activities, as well as innovation and growth. Restriction on interest deductionThe Finnish legislature has restricted interest deductions applied in taxation starting in the 2014 taxation year ...
Wind power offers Finland an attractive means to hit its renewable energy targets. It is estimated that by 2020 some 800 turbines will operate throughout the country, bringing 2,500 megawatts of production capacity. And there are plans for much more wind farms in the pipeline. While the Finnish wind power industry is still in its nascent stage, look for this to change in the near future ...
The General Data Protection Regulation (the "GDPR") came into force a little over two years ago, on 25 May 2018 and the first administrative fines were imposed in Finland in late May 2020. What is noteworthy is that in two out of the four decisions, the fines concerned violations of processing of personal data of employees and job applicants ...
On 25 May 2020, the General Data Protection Regulation (the "GDPR") has been applied for two years. A few days prior to the GDPR's anniversary, the first administrative fines for violations of data protection were imposed in Finland. In Finland, an administrative fine under the GDPR may be imposed by the Sanctions Board formed jointly by the Data Protection Ombudsman and two Deputy Data Protection Ombudsmen ...
The Finnish government proposes significant changes to transfer taxation. Transfer tax is levied on the acquisition of shares and other securities and real property. The proposed changes may have significant effects to the taxation of M&A and real estate transactions. Some of the proposed changes will decrease the tax burden while some will result in increased tax liability. The most significant changes include: The general rate for securities (1 ...
Policy & Law: What is the government policy and legislative framework for the electricity sector? Securing energy supply, competitive energy prices and meeting the European Union’s common energy and climate goals are core elements of policy in the Finnish electricity sector ...
Your company’s compliance programme may not be the easiest topic to bring up at an executive management meeting, but it probably is one of the most important. What makes for a good compliance programme? This topic was raised at a Krogerus Compliance Officer Roundtable that gathered a cross-section of business executives in Finland. Here is a summary of some ideas you may wish to keep in mind ...
With a law enacted on 17 December 2012, the Finnish parliament moved forward on the longstanding plan to house intellectual property rights disputes in the Market Court. This legislative reform has a significant impact for all companies operating in Finland. The Market Court will start to hear these disputes in the autumn of 2013 ...
Browsing the internet – even in a commercial context – does not require authorisation from the relevant copyright owners, says the EU’s top court. The Court of Justice of the European Union (CJEU) confirmed in its recent judgment in Public Relations Consultants Association Ltd (PRCA) v Newspaper Licensing Agency Ltd (NLA) and Others (Case C-360/13) that browsing the internet without a copyright owner’s authorisation does not infringe the owner’s copyright ...
Krogerus Disputes Day was organised on 21 March in Little Finlandia for the first time. The conference engaged our guests and speakers in a lively discussion about overarching sustainability and ESG requirements and, on the other hand, the occurrence and prevention of corporate crimes ...
Krogerus Disputes Day was held on 19 March at Little Finlandia. The popular event gathered dispute resolution and compliance experts to discuss about business disputes with distressed parties. We would like to thank all our speakers and guests for a great Disputes Day and interesting discussions! This year, Disputes Day's theme was Disputes and Distressed parties ...
The EU revenue cap which limits certain electricity generators' revenues has raised many questions within the energy sector. In Finland, the revenue cap will likely be implemented in the form of a temporary windfall tax which would apply to profits made in 2023. Our energy team's associate Nelli Rönkkö has summarised the key points regarding the implementation of the EU revenue cap in Finland ...
Just as the world started to show signs of recovery from the pandemic and there was a glimpse of a promising economic boom, Russia invaded Ukraine. The wide-reaching effect of the war on society and business has meant that many of the challenges faced by the economy are real and the risks previously believed to be of low importance have been or will be actualized ...
The Finnish Government has published a proposal for the temporary Windfall Tax Act in Finland, the draft of which was briefly discussed in our previous article on the subject. The proposed temporary windfall tax would be applicable to so-called windfall profits gained during tax year 2023 by companies operating in the electricity or the fossil fuel sector. The aim of the proposal is to tax said sectors' increased profits resulting from the current energy crisis ...
The proposal for the temporary Windfall Tax Act for enterprises operating in the electricity and fossil fuel sectors was approved by the Finnish Parliament on 27 February 2023 in an amended form. An overview of the Government's proposal can be found in our previous article on the subject. The Windfall Tax Act will be applied retroactively to the tax assessment of tax year 2023 ...
Compliance related themes have become a widely discussed and increasingly important topic for corporates around the world. Increased ESG requirements and awareness have made companies rethink what responsible corporate everyday life looks like. At the same time corporate crimes and, for example, cyber-attacks and data breaches are ever increasing and may lead to detrimental consequences on business ...
Introduction Based on the final report submitted on September 29 2009 by a working group established by the Ministry of Employment and the Economy, on March 11 2010 the government submitted a draft for proposal to Parliament on new legislation in relation to a feed-in tariff system for electricity produced by renewable energy ...
The Finnish Criminal Code has been recently amended to combat cybercrime more effectively. The Criminal Code now takes a tougher stance against cybercrime by amending certain provisions, introducing completely new provisions and more severe penalties. The amendments entered into force 4 September 2015. From now on, cybercrime offences, such as illegal data interference and identity theft, can be found under their own titles in the Criminal Code ...
