A grant recipient who breaches the conditions under which the grant was provided will be asked by the provider to refund the grant or its part. If the recipient refunds the requested portion of the grant, no ad…
The Income Taxes Act (ITA), as amended until 30 April 2015 (“the old wording of the ITA”), specified that if the corporate income tax payer increased the tax base by conducting related party transactions in a w…
An amendment to the Tax Code brings a new tax institute effective from 1 January 2021, which allows the payment of a tax deduction advance (“advance”) before the tax deduction is determined, i.e. before a tax a…
The minister of finance announced VAT remission on free delivery of selected protective and medical equipment. The Court of Justice of the EU issued a judgment in a case involving the payment of VAT on a free s…
In a meeting held on 5 October 2020, the Government approved a proposal for the intended subject-matter of the new Accounting Act. The Ministry of Finance will prepare and present to the Government the Accounti…
In its emergency meeting on 14 October, the Government passed several subsidy programmes to support businesses and entrepreneurs in economic sectors which have been the most affected by the COVID-19 pandemic. T…
On 9 October 2020, Amendments to IFRS 16 Covid-19-Related Rent Concessions were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date.…
During September, the Technology Agency of the Czech Republic announced the planned 4th public tender of the TREND programme, in the sub-programme Newcomers. The programme aims at supporting projects that focus…
The following article provides a brief summary of the main principles of the new interpretation of the National Accounting Board: I-41 “Customer Loyalty Programmes”.