Discounts in Czech Accounting
Discounts, prompt payment discounts, percentage discounts and bulk discounts are business tools used by both small and large companies in marketing in various industry sectors. We have become used to discounted…
Announcement of New Calls and Public Tenders of the Technology Agency of the Czech Republic for the Support of Applied Research an…
The Technology Agency of the Czech Republic announces several new calls and public tenders this autumn focused on the support of applied research and development. They primarily include the following calls/tend…
The New Publication Advises on Revenue Recognition Standards
In July 2019 Deloitte issued a new publication called “A Roadmap to Applying the New Revenue Recognition Standard (2019)” which provides guidance on accounting for revenue-related transactions under US GAAP.
Legal News in e-Commerce, Blockchain and FinTech
The latest news in the area of e-commerce includes the adoption of an EU regulation for multilateral platforms, a bill that may enable the utilisation of banking identities in online legal acts, new obligations…
Legal Risks in Property Acquisition
In recent years, the Czech Republic has experienced a stable growth of real estate prices, especially with regard to apartments and buildings for commercial use, such as offices or business premises. As a resul…
IASB Amended IFRS 9, IAS 39 and IFRS 7 in Response to the IBOR Reform
On 26 September 2019, the International Accounting Standards Board (IASB) published 'Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7)' as a first reaction to the potential effects the IB…
Motivational Programmes: What to Bear in Mind
We have been recently encountering an increasing number of situations where as part of the sale of products and services companies provide their business partners not just with various discounts and turnover bo…
In Brief from International Taxation [October 2019]
The CJEU concluded that the Belgian participation exemption regime infringed the EU parent-subsidiary directive. The newly established commission evaluates the rules for the taxation of multinationals in the Ne…
VAT News [October 2019]
What is new in the area of VAT? The CJEU ruling in the case of Altic may change the practice of tax audits in the Czech Republic. The CJEU ruled that VAT exemption cannot be applied to the service of ensuring c…