Last month, the Supreme Court issued three noteworthy judgments. One decision clarified that a call for the performance of an obligation under Section 204(1) of the Business Corporations Act, may, under certain…
This month, the Supreme Court addressed several noteworthy issues in civil and commercial law. One significant ruling determined that a client cannot obstruct the rectification of construction defects if the co…
The Ministry of the Interior has recently altered its approach to applications for changing the purpose of residence within less than three years for individuals who have entered and resided in the Czech Republ…
At the beginning of this year, digital platform operators submitted their first DAC 7 report for 2023. The new reporting requirement applies to platforms that facilitate services or the sale of goods by individ…
On 1 November 2024, the Ministry of Finance of the Czech Republic published the 4th version of the proposal of the new Accounting Act on its website. In addition to the previously announced changes, it also con…
A number of companies, especially in northern Moravia and Silesia, were affected by the severe floods that swept through the Czech Republic last September. We have prepared a summary outlining the potential eff…
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 15 November 2024…
Until 31 December 2024, the income of natural persons from the sale of securities and shares in business corporations is fully exempt from the personal income tax if the “time test” is met, i.e. 3 years for sec…
On 15 November 2024, the amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates titled Lack of Exchangeability were endorsed by the European Commission for use in the European Union. The EU effec…