Since 2014, taxable entities that meet specific criteria have been obliged to fill in an appendix to the corporate income tax return related to intercompany transactions. Also due to this measure, transfer pric…
In late January, an important ruling of the Supreme Administrative Court (SAC) was issued under Ref. No. 3 Afs 250/2016. The ruling is related to tax exemption of income from royalty payments and interest on a …
A cross-border transfer of the registered office as stipulated in the Czech Transformation Act has recently experienced a mild but noticeable development. The key limit of the Transformation Act is the fact tha…
Following its ruling of 12 December 2017, the Constitutional Court revoked the implementation of the electronic sales records (‘EET’) in the two remaining phases which were to affect the vast majority of sales …
On 15 December 2017, an amendment to the implementing regulation to the Accounting Act for banks and other financial institutions was published in the Collection of Laws under number 442/2017 Coll.
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 8 February 2018.…
On 7 February 2018, the International Accounting Standards Board (IASB) published 'Plan Amendment, Curtailment or Settlement (Amendments to IAS 19)' thus finalising one of two issues relating to IAS 19 submitte…
On 25 January 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842” that clarifies the appli…
In its recent ruling 5 Afs 60/2017, the Supreme Administrative Court addressed the possibility of rejecting a tax deduction claim made by a payer in a situation where the supplier declared the relevant tax, yet…