New treaty with Turkmenistan
On 27 March 2018, the Double Taxation Treaty between the Czech Republic and Turkmenistan came into force. The wording of the Treaty is expected to be published in the Collection of International Treaties shortl…
Announcement of a National Call as part of the LIFE Programme
The Ministry of the Environment has announced a national call as part of the LIFE Programme for submitting applications for support in two sub-programmes – ‘Environment’ and ‘Climate’. Support may be applied fo…
IT Firms at Threat of Not Receiving Subsidies
During the compliance audit of public support rules, it was noted that payroll costs of employees that had already worked at the firm could be reimbursed as part of the information and communications technologi…
Courts Have Once Again Sided with Entrepreneurs in Respect of Payment Security Orders
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…
Suspension of the OP PIK Subsidy Programme
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…
Inconspicuous amendments to the Income Tax Act
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…
IFRS EU Endorsement Process
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 Battle for Professional Secrecy is Over. Or is it…?
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…
Amendments to IAS 40 endorsed for use in the EU – March 2018
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…