Download Accounting news: April 2018
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Categorisation of Reporting Entities Two Years Later
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…
New Rules for Taxing Digital Companies
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…
Defending One’s Tax-Related Rights Is Not a Losing Battle
Although in some cases defence against decisions and procedures of the Tax Administration of the Czech Republic may seem to be a lengthy battle with uncertain outcomes, the recent rulings of the Supreme Adminis…
Publishing a Call under the Operational Programme Environment (OPE) to Prevent Municipality and Industrial Waste
Under the OP Environment 2014-2020, a call was published within priority axis 3 “Waste management and material flows, environmental burden and risks” focusing on waste prevention. Eligible applicants involve pu…
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.
Some Types of Tax Savings to Be Disclosed
In 2018, final political consensus was achieved on the wording of the EU directive, which introduces the obligation to disclose, among other things, such cross-border arrangements, the ultimate goal or one of t…
Announcement of the 3rd Public Tender under the GAMA programme
In early March 2018, the Technology Agency of the Czech Republic published the 3rd public tender supporting applied research, experimental development and innovations within the GAMA programme, sub-programme 2 …
Amendments to IAS 40 endorsed for use in the EU
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…