We have already informed you that the thresholds for the categorisation of reporting entities have been increased and that the mandatory audit requirement for small reporting entities has been abolished. Many c…
The 2023 amendment to the Accounting Act (Act No. 441/2023 Coll.) introduced a new requirement for certain reporting entities to prepare and disclose an income tax report (the so called public CbCR), including …
A recent judgment of the Supreme Administrative Court shows that failure to publish the financial statements can lead to serious consequences. In this article, we have summarised the practical implications for …
On 2 September 2025, Act No. 316/2025 Coll. was published in the Collection of Laws. Among other things, it amends the existing Accounting Act (the “Accounting Act”). This amendment brings three changes, two …
How to correctly value internally developed or produced inventory? That is one of the most common accounting questions that manufacturing companies ask themselves. In the case of mass production, it is usuall…
In our blog, we regularly inform you about the tax implications of employee stock and option plans (ESOP). This time, we will address the question of how to properly report these employee plans according to Cze…
In late September 2024, we informed you about the Government’s proposal to amend Act No. 563/1991 Coll., on Accounting (the “Accounting Act”). Since then, several developments have occurred. In this article, we…
Not much has been happening lately in the accounting field, aside from the upcoming new Accounting Act, but it is already clear that, since it has not yet been presented to the Parliament, it will most likely n…
On 1 November 2024, the Ministry of Finance of the Czech Republic published the 4th version of the proposal of the new Accounting Act on its website. In addition to the previously announced changes, it also con…
A number of companies, especially in northern Moravia and Silesia, were affected by the severe floods that swept through the Czech Republic last September. We have prepared a summary outlining the potential eff…