Changes in VAT legislation
The Government approved an amendment to the VAT Act with the proposed effective date from January 2019. Compared to the original wording, the change in the taxation of grants from public sources has been postpo…
Some Types of Tax Savings to Be Disclosed
Council Directive (EU) 2018 /822 - also referred to as DAC VI – was promulgated in the Official Journal of the European Union on 5 June 2018 and is set to come into force on 25 June 2018.
New Opinions on Public Procurement
The Ministry of Regional Development has published two new Expert Group opinions on the Public Procurement Act.
IFRS EU Endorsement Process
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 24 April 2018. A…
International taxes in brief – June
Are you wondering what's new about international taxation? Read about the news in Luxembourg and the Netherlands.
Making Insurance Contributions on Behalf of “Outsourced” Employees. It is not necessary to have a legal relationship to make insur…
The Regional Court in Hradec Králové has addressed the issue of making social security and health insurance contributions from performances provided to employees of a different company. As the Income Taxes Act …
Consignment inventory
Do you have inventory that may be considered as a consignment inventory? How would you treat it in your US GAAP reporting?
Introduction of Additional Tariffs on US Goods
In March 2018, the US introduced, for an unlimited period of time, additional tariffs on the import of certain aluminium (10%) and steel (25%) products in order to protect domestic goods. The exception to goods…
The Water Act Amendment has been Promulgated
On Tuesday, 5 June 2018, the President of the Czech Republic signed an amendment to the Water Act. Amendment No. 113/2018 was promulgated on 11 June, comprehensively changing the existing fee administration sys…