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 ...
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 ...
Year 2022 included several significant legislative reforms in the field of employment law. As we have now entered 2023, it is a good time to take a look back to the previous year and to have a look at reforms and amendments coming up during 2023 within the field of employment law ...
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 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 ...
Year 2022 has included several significant legislative reforms in the field of employment law. Now is the time to look at some of these legislative changes that are coming our way ...
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 ...
In the beginning of the new year 2022, it is a good time to take look back to the previous year 2021 and to have a look at reforms and amendments coming up during 2022 within the field of employment law. In addition to legislative changes, collective bargaining negotiations have lately been a hot topic as many collective bargaining agreements are up for renewal and some generally applicable collective bargaining agreements will not be renewed ...
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 ...
The year 2020 was turbulent in many ways: the worldwide pandemic slowed down a number of reforms and caused challenges for various industries. Now it is time to look back and remind ourselves of the changes that took place in the field of employment law over the past year. It is also time to glance at the reforms awaiting us in 2021, a year hopefully brighter than its predecessor ...
This newsletter features a look into notable recent Finnish competition and regulatory case law. We have acted as advisors in many of the cases presented on this newsletter ...
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 ...
Summary On 29 January 2020 the Court of Justice of the European Union (CJEU) gave its ruling in the long-awaited case C-371/18 Sky v SkyKick. The judgment provides for two key findings. First, it confirms that a trademark cannot be declared invalid on the grounds that the terms used to designate the goods/services lack clarity and precision ...
With the year 2019 now behind us, it is a good time to remind ourselves of the changes that took place in the field of employment law over the past year. It is also time to prepare for the reforms that will happen in 2020. LEGISLATIVE REFORMS, AMENDMENTS AND SIGNIFICANT PRECEDENTS IN 2019 In 2019, there were some amendments to Finnish employment legislation ...
A recent ruling of the Finnish Supreme Court is a great reminder for employers what is to be taken into consideration when entering into termination agreements with employees. In general, the employer and the employee may, at any time during the employment relationship, mutually agree to terminate the employment relationship. Freedom of contract applies and a mutual termination agreement is, per se, a valid and legally binding agreement, if the agreement in concluded appropriately ...
A website operator that embeds third party plugins on its website may become a joint controller in relation to the website visitors' personal data together with the third party service provider, according to a preliminary ruling by the Court of Justice of the European Union (CJEU) in case C-40/17 Fashion ID. The judgment upholds the broad interpretation of joint controllership of personal data established by the CJEU in its recent case law ...
Under the Convention on the Contract for the International Carriage of Goods by Road ("CMR convention") and the Finnish Road Transport Act, a carrier is, as a general rule, liable for loss of and damage to the goods occurring during the transport as well as for any delay in delivery ...
