IFRS EU Endorsement Process: April
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 28 March 2019.
ESMA publishes a report on the activities of accounting enforcers and their findings within the EU in 2018
On 27 March 2019, the European Securities and Markets Authority (ESMA) published a report on the enforcement and regulatory activities of accounting enforcers within the European Union in 2018. ESMA is an indep…
2020 Tax Package Proposal
Shortly after this year’s tax package was approved (with effect from 1 April 2019 – detailed information is available here), the Ministry of Finance has prepared a draft bill to amend the following tax legislat…
Outstanding Vacation Days – a reserve or an estimated payable?
Opinions as to the period in which costs of outstanding vacation days should be accounted for and how have changed over time. At first, they were not accounted for at all, then through estimated payables and ev…
CJEU interpretation of beneficial ownership
On 26 February 2019, the Court of Justice of the European Union (CJEU) issued decisions in six cases (joined cases C-116/16 and C-117/16 and joined cases C-115/16, C-118/16, C-119/16 and C-299/16) concerning t…
International taxes in brief – April
Austrian government announced a package of proposals to tax the digital economy. According to European Commission UK CFC rules constitutes illegal state aid. This is only some of the news that you will read abo…
A new crime of obstruction of justice and its impact on submitting means of evidence
With effect from 1 February 2019, a new provision of Section 347a was introduced in the Criminal Code (Act No. 40/2009 Coll., the Criminal Code, as amended) stipulating a crime of obstruction of justice. Its su…
VAT news in April
The Czech Tax Administration published an overview of most changes introduced by an amendment to the VAT Act. Case C-201/18 Mydibel assessing sale and lease back transactions in terms of VAT may have significan…
Expansion of exemption from real estate acquisition tax
The Chamber of Deputies approved a legal provision amendment that will allow exempting from real estate acquisition tax also the first acquisition of an apartment unit in a detached house against payment, not j…