Latest Schedule of OP PIK Calls
The table below presents the latest schedule of the calls already announced under the Enterprise and Innovation for Competitiveness Operational Programme (“OP PIK”), including the deadlines for submitting appli…
IASB issued amendments to IFRS 3 regarding the definition of a business
On 22 October 2018, the IASB issued 'Definition of a Business (Amendments to IFRS 3)' aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of as…
Hard versus soft Brexit. What will the divorce agreement with the EU bring?
The time of the withdrawal of Great Britain from the EU is inexorably approaching and the issue of Brexit has become a frequent topic of discussions. Although the political process regarding Britain’s withdrawa…
Ruling: Correction of Accounting Errors and Tax Base Implications
This article summarises the key information arising from judgment 3 Afs 28/2017 – 43 which was issued in October 2018, addressing two areas as follows: corrections in accounting records including implications f…
Cyber threat considerations related to implementation of internal accounting controls
In response to the continued increase in cybercrime, the United States Securities and Exchange Commission (SEC) issued an investigative report on 16 October 2018 that cautioned companies to consider cyber threa…
Transparent Company Sale
The past few years were nearly the “Golden Age” for company owners contemplating the sale of their businesses. The economy as well as enterprises have experienced a boom; interest rates continue to be low, with…
Understand First and Then Regulate
Legal regulations may sometimes be scary. They a priori provoke aversion, generating enormous compliance costs. Rules are often duplicate or even contradictory. Public regulation is beyond control in certain ar…
Effect of a new Czech and Korean double tax treaty
The new version of the double tax treaty between the Czech Republic and the Korean Republic is currently under discussion . The new double tax treaty shall replace the initial version of the treaty dating back …
Possible Changes in the Real Estate Acquisition Act
The Czech Pirate Party has prepared a draft amendment to the ordinance on real estate acquisition tax which, if approved, would decrease the tax rate on the acquisition of real estate for natural persons purcha…