IFRS Interpretations Committee agenda decision – IFRS 16
We bring an interesting final agenda decision issued by the IFRS Interpretations Committee in April 2023 which concerns the definition of a lease under IFRS 16 Leases.
Legal News [April 2023]: The Supreme Court commented on the legitimate expectation of a non-profit subsidy
Can an employer and employee validly conclude an agreement to extend the notice period at a time when the notice period is already running? The Supreme Court has analysed this question in its judgment No. 21 Cd…
What are the proposed changes to the Act on the Residence of Foreign Nationals
As a result of numerous amendments, the Act on the Residence of Foreign Nationals is marked by considerable complexity and complications. The recodification of the Act planned from 1 July 2025 should remedy thi…
Government presents consolidation package called “Czech Republic in Shape”
After weeks of debates and negotiations, the Czech government presented its consolidation and austerity package for the next few years at a press conference on 11 May 2023. The package contains a set of measure…
The Czech UOOU has updated its recommendations on the use of cookies
On 6 March 2023, the Czech Office for Personal Data Protection (UOOU) published an updated version of its recommendations on the use of cookies on its website. These updated guidelines provide website operators…
Inheritance: How to secure your property responsibly in the event of death
Naturally, no one likes to think about death, but it is an inevitable part of everybody's life. To avoid your loved ones being caught up in the unpleasant and lengthy inheritance proceedings or the financial di…
The European Union introduces uniform legislation for the cryptocurrency market
Until recently, the cryptocurrency market has not been regulated at EU level, resulting in divergent national legislation across EU Member States. This situation has been resolved through the MiCA unified legis…
The amendment to the VAT Act became effective in Slovakia
The amendment to the VAT Act in Slovakia has brought several significant changes that came into force on 1 January 2023. The most significant changes include the introduction of an obligation for customers to c…
Serious evidentiary challenges in related party transactions
Intragroup transactions and transfer pricing are continuously on the radar of tax administrations around the world, including the Czech Financial Administration. Therefore, tax audits with focus on transactions…