The Supreme Administrative Court has again confirmed that it makes sense to defend yourself against the practices of the financial administration. In its latest ruling on the AB Chemitrans case, the court ruled…
An in-depth audit by the Ministry of Finance of the Czech Republic has highlighted errors in the Business and Innovations for Competitiveness Operational Programme (hereinafter “OP PIK”), whose managing authori…
The relatively extensive amendment to the Income Tax Act (“ITA”) is expected to introduce substantial changes to international taxation and other fields starting from 2019. We note that the amendment is just at…
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 15 March 2018.
The proposed amendment to the Tax Code, about which we have already informed you, was, following heated debates, finally approved by the Chamber of Deputies of the Parliament on 21 March 2018. The original prop…
On 14 March 2018, Amendments to IAS 40 Transfers of Investment Property were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date (an…
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The extensive amendment to Act No. 563/1991 Coll., on Accounting, as amended (the “Accounting Act”), has introduced “categorisation of reporting entities”, effective since 1 January 2016. A more detailed classi…
On Wednesday 21 March 2018, a proposed reform was presented, enabling member states of the European Union (“EU”) to tax revenues generated by large digital companies in their territories. The proposal should th…