VAT news [May 2022]
The adopted amendment of the VAT Act enables EU bodies to retroactively purchase goods used to combat the COVID-19 pandemic without VAT. The European Court of Justice ruled on the utilisation of a reduced VAT r…
Czech courts have issued the first rulings on cryptocurrency taxation
For the first time, the Regional Court in Brno dealt with the issue of taxation of the sale of cryptocurrencies in terms of personal income tax. It commented on the issue in judgments No. 30 Af 41/2020-49 of 24…
Additional claim of higher tax relief for investment incentives is possible
Taxpayers who were promised an investment incentive can claim tax relief in their tax return, which might, in some cases, reach up to 100% of their tax liability. However, what should be done when a company fin…
IFRS Foundation publishes the sixth compilation of IFRS Interpretations Committee agenda decisions
The IFRS Foundation has issued, “Compilation of Agenda Decisions — Volume 6” which contains all the agenda decisions made by the IFRS Interpretations Committee from November 2021 to April 2022.
Financial statements: How to close the preceding year and prepare for the new one?
In the following article, we have summarised what needs to be done in connection with the approval of financial statements, how to time the necessary steps leading to their disclosure, why it is advisable not t…
In brief from international taxation [May 2022]
OECD consulting with interested parties to inform of its work in the tax area. A long-awaited decree of the German Ministry of Finance confirms the acceptance of the principles established by court. You can fin…
IFRS Sustainability Disclosure Standards under preparation
Global capital markets demand better information about sustainability-related matters to enable investors to factor in sustainability-related risks and opportunities in their assessment of enterprise value. To …
European Commission proposes directive to address tax-induced debt equity bias
On 11 May 2022, the European Commission announced the release of a draft for a new directive laying down rules to address the tax-induced debt-equity bias. The proposal includes both a debt-equity bias reductio…
Foreign structures in focus
In recent years, the tax environment has been going through major changes and greater attention has been paid to the taxation of multinational groups and the prevention of aggressive tax planning within foreign…