IASB Concluded the 2018–2020 Annual Improvements Cycle
On 14 May 2020, the IASB issued 'Annual Improvements to IFRS Standards 2018–2020'. The pronouncement contains amendments to four International Financial Reporting Standards (IFRSs).
Current Timetable of Calls Announced in the Operational Programme Enterprise and Innovation for Competitiveness
We would like to remind you that the applications to several programmes of the Operation Programme Enterprise and Innovation for Competitiveness are still being accepted. The table below shows the current timet…
IASB Published Amendments to IFRS 3 to Update a Reference to the Conceptual Framework
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Reference to the Conceptual Framework (Amendments to IFRS 3)' with amendments to IFRS 3 Business Combinations that update an outdat…
IFRS EU Endorsement Process [May 2020]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 22 April 2020.
Announcement of New Public Tenders to Support Applied Research and Innovation of the Technology Agency of the Czech Republic
In May, the Technology Agency of the Czech Republic announced a new call focused on support of applied research and experimental development and innovations DELTA 2.
New Draft Amendment to the Tax Code. What Changes Does It Bring?
After the Chamber of Deputies was unable to form a majority for the approval of the original draft amendment to the Tax Code, a new, revised draft was submitted shortly after. It largely copies the original dra…
IASB Issued Amendments to IAS 16 Regarding Proceeds Before Intended Use
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Property, Plant and Equipment — Proceeds before Intended Use (Amendments to IAS 16)' regarding proceeds from selling items produced…
IASB Issued Amendments to IAS 37 Regarding Onerous Contracts
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)' amending the standard regarding costs a company should in…
Possible Postponement of the Reporting Obligation Deadlines in Relation to Cross-border Arrangements (DAC VI)
Based on the sixth amendment to the Directive on administrative cooperation in the field of taxation (the so called DAC VI), taxpayers in the EU Member States, including the Czech Republic, will be required to …