The most significant changes in the field of labour migration after the amendment to the Act on the Residence of Foreigners

The amendment to the Act on the Residence of Aliens, which was signed by the President of the Czech Republic on 4th of July and was sent to be published in the Collection of the laws should come into effect in August 2019. The implementing regulations which are part of the amendment should come into effect in September 2019. Based on the EU transposition directive, the changes will enable foreign university students and researchers to stay in the Czech Republic up to nine months after completing their studies or research activities on the basis of a long-term residence for the purpose of finding a job or starting a business. 

15. 7. 2019

Will the New Legislation Help Accelerate the Preparation and Realisation of Construction?

In recent years, all the new or forthcoming legal regulations amending construction legislation have had something in common – to accelerate and simplify building permit processes. No wonder – within developed countries, the Czech Republic is at the very tail of various rankings and surveys mapping, among other things, the length of construction preparation. To give an example – based on the World Bank Report “Doing Business 2019”, the Czech Republic takes 156th place. 

25. 6. 2019

Future challenges of fast growing businesses: What happens if you ignore red flags?

If you type “compliance” into your browser, you instantly get almost 1 billion search results. In the last few years, many corporate scandals went public and got us all thinking about compliance more than ever before. Especially if your company is among the fastest growing on the market. How to prevent complications that can lead to prosecution, huge financial losses, or even extinction of your company? 

14. 6. 2019

The Czech Republic is among the countries that have set a national definition of a family business. Deloitte Legal was involved in its preparation

Family businesses have to be considered a significant element of the Czech economy which is worth supporting. They often operate in regions, where they create additional jobs and maintain regional products, increase local employment rate and work as a prevention of depopulation of the countryside. They also show a relatively high stability and they can therefore support the economy even in times of recession. Until now, however, we have lacked a national regulation that would clearly define a family business as such. 

12. 6. 2019

Mountaineering is more similar to competition regulation than you think. How to become a Leopard on the market?

When the mountains are you passion and you aspire to become a Snow Leopard and to win the prestigious award for climbers of five peaks of 7000m and above located in the former Soviet Union – you must exert considerable effort. You undergo immense risk and must rely on your organisational skills, perseverance, patience as well as team work. You must think of the big picture. As in business. Mountaineering is more similar to guidance of the firms though the limits of the competition regulation than you think. Why don´t you win in economic competition and become a Leopard in your market? 

28. 5. 2019

Regulation of Research and Development Tax Deductions: Victory of Substance over Form

The outcome of development projects is always uncertain. Therefore, it is important to provide various forms of aid for businesses to embark on these uncertain projects. From the tax perspective, this primarily includes the possibility of treating research and development costs as a tax-deductible item. However, in respect of this form of aid, some businesses have so far objected that the regulation itself is uncertain. All this has changed with the amended Income Taxes Act that significantly revises the manner of regulating deductions for promoting research and development. 

24. 5. 2019

Amendment to the Act on Medicinal Products – Another Step towards the Digitisation of the Health Service and a New Obligation to Report the Prices of Medicinal Products

The Chamber of Deputies is currently debating, as Parliamentary Print No. 302, Amendment to Act No. 378/2007 Coll., on Medicinal Products and Amendments to Some Relating Acts, as amended (the “Medicinal Products Act”). On 9 May 2019, the Medicinal Products Act passed the second reading in the Chamber of Deputies, with proposed amendments sent to deputies on 10 May 2019. The third reading of the amendment is currently scheduled for the 30th Chamber of Deputies’ session, ie on 28 May 2019. 

23. 5. 2019

Marriage? Marriage!

On 26 March 2019, the Chamber of Deputies continued the discussion in the first reading of the draft of the so-called Equal Marriage Act, i.e. an act that changes individual provisions of, among others, the Civil Code (No. 89/2012 Coll.), Pension Insurance Act (No. 155/1995 Coll.), Act on Specific Healthcare Services (No. 373/2011 Coll.), and revokes Act No. 115/2006 Coll., on Registered Partnership. The draft bill remained in the first reading and it looks like it will stay that way for a while. Nevertheless, let us have a look at what led us to this act and what it will bring. Or take away? 

23. 4. 2019