Accounting Treatment and Reporting of Government Support and Compensations Provided in Relation to the COVID-19 Pandemic

Although it may seem that the COVID-19 pandemic is on the decline, businesses affected by the epidemic and by governmental anti-pandemic measures can still apply for allowances and support in order to decrease the impact of the current crisis. This article summarises the approaches to the accounting treatment of support and compensations and their reflection in the 2020 financial statements in line with Czech accounting legislation, including new titles that have been approved by the Government only in 2021. 

26. 5. 2021

OECD has released an updated version of the manual for the assessment of international tax aspects following anti-epidemic measures

The updated version summarises the conclusions and recommendations set out in the original version published last spring. At the same time, it offers examples of how different countries approach, within the current situation and restrictive measures, the fulfilment of the conditions for setting up permanent establishments, determining tax residency and the taxation of employees. 

17. 2. 2021

Do you watch the limits for aid provided under the COVID or Antivirus programmes?

In recent months, the Czech government has introduced a number of state aid programmes to help businesses hit by the Covid-19 pandemic overcome the period of limited economic activity. In general, the aid provided under individual programmes may be used simultaneously and cumulated. However, in some cases it is not allowed to exceed the maximum aid limit for a single undertaking. What programmes are subject to the limit and what should be included in the calculation? A what exactly does “a single undertaking” mean? 

22. 1. 2021