VAT news [May 2021]
The amendment to the VAT Act, which should change the rules for mail orders of goods within the EU, has not been presented in the Senate yet. Until the year-end, it will be possible to exempt from tax the impor…
IASB published amendments to IAS 12
On 7 May 2021, the International Accounting Standards Board (IASB) published Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction that clarify how companies acco…
In Brief from International Taxation [May 2021]
May’s news from international taxation among other introduces a follow-up on CJEU cases on dividend distribution, summarises an CJEU opinion on dividend payment to collective investments undertaking and informs…
Remote life: How can companies benefit from an adaptive or hybrid workplace?
The current situation shows how workforces must adapt to working across different locations with much higher proportions working from home/remotely. This has impact not only on how teams work together, but also…
Tax waiver in relation to a professional education allowance
On 27 April 2021, the Minister of Finance issued another resolution on waiver of income tax on the grounds of an extraordinary event caused by the coronavirus spread. This time, it relates to the income tax cor…
Access to technical standards now free of charge for the general public
Based on diverse legal regulations, a vast number of Czech technical standards are binding for their intended users. This is particularly true in the construction industry as well as other fields where special …
The Supreme Court of the Czech Republic: Statutory warranty not renewed when the product is replaced or repaired
Much has been written about the statutory warranty, or, in the terminology of Act No. 89/2012 Coll., Civil Code, as amended (the “Civil Code”), the legal obligation arising from defective performance, by profes…
Outsourcing in financial institutions, including cloud outsourcing
Outsourcing is a topical issue irrespective of specific industries. This trend is driven by multiple factors, predominantly potential financial savings, development of technological solutions and the digitalisa…
Announcement of the first full call in the HEAT programme
The new Modernisation Fund announced the first-ever so-called actual call in the HEAT programme aimed at modernising heat energy supply systems. Until 1 February 2021, it was possible to submit preliminary regi…