October Vat news: VAT Act Amendment
As the discussion of the technical amendment to the VAT Act has been postponed, it may be expected that the relevant changes (eg, in respect of tax base corrections, VAT reduction in the event of irrecoverable …
Announcing the Czech Republic’s stance towards the EU’s proposals for digital economy taxation
The Ministry of Finance has published on its website a brief summary of the Czech Republic’s attitude to the proposals of the European Union concerning the taxation of so-called digital economy (we have discuss…
The Current Schedule of Calls under the Operational Programme Enterprise and Innovations for Competitiveness 2014-2020
Would you like to see the latest schedule of the announced Business and Innovation for Competitiveness Operational Programme (or “OP PIK”) 2014-2020 calls and know the precise announcement date and date for sub…
What changes in US GAAP become effective this December?
With the approaching year end most of the companies are already prepared for key US GAAP changes becoming effective soon, for example changes in leasing accounting. There are however more changes upcoming.
IFRS EU Endorsement Process: October
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 12 October 2018.
Applying the expected credit loss model under IFRS 9 to trade receivables
IFRS 9 Financial Instruments is effective for annual periods beginning on or after 1 January 2018. Its new impairment requirements will affect almost all entities and not just large financial institutions. Wher…
Other profit or loss from prior years
Since 2013, equity has included the item “Other profit or loss from prior years” (since 2017 as item A.IV.3., since 2018 as A.IV.2.), which is regulated by Section 15a of Regulation No. 500/2002 Sb. In today’s …
Approaching deadline for an entry of beneficial owners information in the Beneficial Owners Register
An amendment to Act No. 304/2013 Coll., on Public Registers of Legal Entities and Individuals, effective since 1 January 2018, has introduced the Beneficial Owners Register (the “Register”) in which all legal e…
Conceptual changes in provisions regarding vacation time and minimum wage and more than 80 additional proposed changes effective a…
...are brought by the draft amendment to the Labour Code presented by the Ministry of Labour and Social Affairs. It is a more modest act compared to the very ambitious but unsuccessful draft from 2016, but it i…