Comparing IFRS Standards and US GAAP: accounting roadmap published
In October 2021, Deloitte published a new piece of the roadmap accounting series on US GAAP related topics.
Acts performed by the tax administrator within a local inquiry may represent material initiation of a tax audit
According to a recent ruling of the Municipal Court in Prague ref. no. 18 Af 11/2021, the tax administrator exceeded the regulatory framework of local inquiry by performing acts corresponding in their nature an…
ESMA has announced enforcement priorities for 2021 financial statements
On 29 October 2021, the European Securities and Markets Authority (ESMA) announced the priority issues that the assessment of listed companies' 2021 financial statements will focus on.
Additional utilisation of suspended depreciation for tax purposes dismissed by the Regional Court
In general, the Income Taxes Act provides taxpayers with an option to suspend tax depreciation of assets or not to utilise it at all. Thus, the utilisation of tax depreciation in the tax base is an alternative,…
EUROMED Convention – transitional rules
The EUROMED Community aims to promote economic integration across EU states, their neighbours, North Africa as well as Middle Eastern countries. With effect from September, the “transitional rules of origin” ha…
Stricter regulations and an increasing number of environmental litigations are contributing to a faster greening of the economy
Economy greening is one of the current society-wide issues, the importance of which has been growing rapidly in recent months and years. Changes are also coming in the area of legislation, with new regulations …
The European Commission presented the most comprehensive set of climate and energy proposals to date
The climate and biodiversity situation is alarming. The report of the Intergovernmental Panel on Climate Change (IPCC) emphasises that human activities have been warming the planet at a rate unprecedented in th…
EU to focus more on the greening of agriculture and forestry, aiming to mitigate climate change
The European Commission has adopted a new forest strategy for 2030 which aims to enhance the ecosystem services and strengthen their role in combating climate change. The document focuses on two principal areas…
Environmental litigations are on the rise and drive the fight against climate crisis
A ruling of the Court of Justice of the European Union will fundamentally change the rules for protecting international energy investment in the EU. Member states will thus be in a much better position in terms…