Announcement of a National Call under the LIFE Programme

On 15 March, the Ministry of the Environment announced a national call under the LIFE programme for submitting grant applications in two sub-programmes – “The Environment” and “Climate”. Under both sub-programmes, applications may be submitted not only for project co-funding, but also for the preparation of project documentation. Grant applications may be submitted by public as well as corporate entities and the projects must be implemented in the Czech Republic, including the capital city of Prague. 

25. 3. 2019

Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) – Current Situation (not only) in the Czech Republic

Double taxation treaties are the subject of interest for any entity generating profit in multiple countries to ensure that the entity’s proceeds are not taxed in several jurisdictions. The MLI is an international instrument modifying a substantial part of those double taxation treaties and may give rise to a new tax liability. 

21. 3. 2019

Changes relating to customs guarantees for temporary storage and special customs procedures – VAT will no longer be secured

On 15 March 2019, the President of the Czech Republic signed an act amending certain tax laws (the “tax package”). The package includes the long-awaited amendment to the Customs Act providing guidance on securing customs debts relating to temporary storage and special customs procedures (except for the transit procedure). The news is that the customs authorities will no longer require that the customs guarantee covers VAT. 

20. 3. 2019

Brexit and its Implications for Your Firm: 10 Steps on How to Prepare for the “No Deal” Scenario

The divorce battle between the United Kingdom and the European Union is in full swing and the result is still unclear. At present, the only certain thing is that the two-year period will soon expire. Several possibilities exist as to the timeframe and the ultimate setup of the relations between the United Kingdom, the European Union and other countries, including the Czech Republic. This inevitably complicates all additional steps that you should take prior to the final decision. To be prepared for the “big day”, which falls on 29 March 2019 or 30 March 2019 considering the time zone difference, it is advisable to expect the “no deal” or “hard Brexit” scenario given the circumstances. Our ten recommendations may be of assistance to you in this respect. 

20. 3. 2019