Amendments to IFRS 16 endorsed for use in the EU
On 20 November 2023, the amendments to IFRS 16 Leases titled Lease Liability in a Sale and Leaseback were endorsed by the European Commission for use in the European Union.
IFRS EU endorsement process [November 2023]
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 21 November 2023…
Disclosure of significant judgements and key sources of estimation uncertainty
This article addresses the requirements of IAS 1 Presentation of Financial Statements relating to the disclosure of key judgements management has made in the process of applying accounting policies and of assum…
ESOP: New rules for the taxation of employee stock and options to purchase stock in a business corporation
On 15 November 2023, the Chamber of Deputies held the 3rd reading of the government’s bill amending certain laws in connection with the development of the financial market and the promotion of retirement securi…
Legal News [November 2023]: What is the correct definition of a lost commission?
According to the judgment of the Constitutional Court, the full amount of a subsidy should be reduced only in the most serious cases or under special circumstances. Moreover, in its judgment, Case No III. ÚS 13…
What to remember when calculating deferred tax for 2023
Which entities are required to account for deferred tax? And how is this tax properly calculated? In the following article, we have outlined what to pay special attention to when calculating deferred tax in the…
What is new in real estate taxation?
As part of the consolidation package, the Real Estate Tax Act has also been amended. Most of the changes will already be relevant for the upcoming year 2024. Although many of the changes will be reflected autom…
NIS2 implementation: Involve not only IT specialists, but also other experts
The transposition of the European NIS2 Directive into the Czech legislation should be completed by mid-2024. The directive will be reflected in the new Cybersecurity Act (CSA) and related decrees and will affec…
The Supreme Administrative Court resolved the matter of a time limit for tax assessment that started before 2011
In a long-awaited judgment, the Grand Chamber of the Supreme Administrative Court (the “SAC”) resolved the matter how to correctly calculate the prescription time limit in situations where the time limit for ta…