The Constitutional Court has issued a landmark ruling affirming that all legal entities have the right to protect their reputation. If a company’s reputation is harmed, it can claim appropriate compensation for…
In its ruling 23 Cdo 1048/2023, the Supreme Court examined whether authors are entitled to compensation under Section 25(1)(b) of the Copyright Act in connection with the sale of smartphones, despite an excepti…
The General Financial Directorate has issued information on the amendment to the VAT Act, which came into effect on 1 January 2025, as well as information on the application of VAT for fuel payments made throug…
The version of the illustrative consolidated financial statements under IFRS Accounting Standards as adopted by the EU prepared by the Prague office of Deloitte is available on Deloitte’s website in both Czech …
On Friday, 29 November 2024, the DEEP TECH Application subsidy call, aimed at supporting development activities in selected areas, was announced. The support level for some applicants and projects may reach up …
The subject matter of the dispute is the rejection of an application for exemption from withholding tax on royalty payments in line with Section 38nb of the Income Taxes Act (“ITA”) retroactively. This provisio…
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 16 January 2025.…
On 18 December 2024, the International Accounting Standards Board (IASB) issued 'Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7)'. The amendments are effective for annual re…
This article provides a high-level overview of the new and revised IFRS® Accounting Standards effective for the December 2024 calendar year-end and subsequent accounting periods.