OECD Pillar Two updates
On 17 July 2023, the OECD/G20 Inclusive Framework on BEPS published a package of documents on the implementation of the Pillar Two global minimum tax rules (“Pillar Two”). The package includes additional admini…
Generative AI and AI Act
The introduction of the ChatGPT model at the end of 2022 marked a remarkable technological milestone – the deployment of generative artificial intelligence. This represents an attempt to develop what is known a…
Digital transformation: Is prevention of failure possible?
Today’s era is characterized by rapid technological advances and constant shifts in customer preferences. In the context of such changes, organizations can either face the challenges of outdated practices, incr…
Deloitte survey: 45% of German managers fear deindustrialisation of Germany
According to a Deloitte survey on supply chain trends in German companies, more than half of the manufacturing executives surveyed believe that Germany's attractiveness as an industrial location is declining an…
Legal News [August 2023]: New entrepreneur’s definition in the Civil Code
Who is obliged to compensate the former lessee for taking over the customer base and what are the requirements of the articles of association regarding the funds to which part of the profits of a joint-stock co…
Consolidation Package proposes functional currency and other tax changes
After its meeting on 23 August 2023, the government coalition issued a statement, which was subsequently confirmed on the website of the Ministry of Finance, presenting the proposed changes to the Consolidation…
No more paper booklets! Foreigners must now have biometric cards
The amendment to the Act on the Residence of Foreigners, which came into force on 2 August 2021, introduced the obligation for foreigners to exchange paper residency permits for biometric cards by 3 August 2023…
The Whistleblower Protection Act has come into force. What is important to know?
The Czech Republic has finally fulfilled its obligation and completed the implementation of the EU Whistleblowing Directive. The new regulations, Act No. 171/2023 Coll., on the Protection of Whistleblowers (the…
Introduction of AI systems with unacceptable, limited and minimal risks
While the primary goal of the AI Act is to regulate high-risk AI systems and ensure their safe operation within the EU, it is imperative to understand the entire spectrum of AI systems. The proposed risk-based …