IFRS EU endorsement process [April 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 5 April 2023.
EU Corporate Sustainability Reporting Directive
The Corporate Sustainability Reporting Directive (CSRD) was published in the Official Journal of the European Union on 15 December 2022, and it entered into force on 5 January 2023. The transposition period for…
Cash flow in the financial statements
Some reporting entities prepare an obligatory separate cash flow statement as part of the financial statements, others prepare it voluntarily – e.g. based on the requirements of users, typically investors. Some…
Questions regarding the effectiveness of the new Accounting Act
The new Accounting Act, which should come into force on 1 January 2024, is still in the legislative process. Let us summarise in what phase the act and the related regulations are now.
“Unshell” Directive discussed in EU Council
With the change in the EU Council Presidency, discussions on the parameters of the EU directive to define minimum requirements for the economic substance of entities established in the EU (the “Directive”) have…
In brief from international taxation [April 2023]
The UK Government has released draft legislation to implement Pillar Two global minimum tax rules. Germany has published draft legislation to implement the EU Pillar Two Directive on international taxation. Bel…
Arranging family property through trusts or endowment funds
Preserving family assets, ensuring their integrity or providing for family members are just a few reasons why some families choose to establish a trust or family-type endowment fund. Both of these institutes co…
Update of the OP TAC schedule for 2023
At the beginning of April 2023, the Ministry of Industry and Trade updated the schedule of calls for the Operational Programme Technology and Application for Competitiveness (OP TAC) for 2023. The update led ma…
Concept of abuse of law in focus of tax administration again
The current case-law shows that the concept of the abuse of law is becoming the inseparable part of tax practice over time; therefore, we bring you another judicial decision on this topic, this time it was made…