VAT news [June 2024]
What changes will the amendment to the VAT Act, which is currently being discussed in the Chamber of Deputies, bring? In which case is a receiving establishment created or not according to the decision of the C…
New approach to social security for Ukrainian citizens working in the Czech Republic for Ukrainian employers
Since 2023, an agreement on social security concluded between the Czech Republic and Ukraine is valid, setting out that employees are liable to the legal regulations of the country in which they work. However, …
Methodological guidelines of the Financial Administration on powers of attorney
The General Financial Directorate has issued a new methodological guidelines on powers of attorney within the national territorial competence of Tax Offices for the exercise of selected competences in order to …
IASB issued amendments to IFRS 9 and IFRS 7
On 30 May 2024, the International Accounting Standards Board (IASB) published amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments. The amendments will be ef…
Lex Ukraine VII: New options for temporary protection holders in the Czech Republic
On 12 June 2024, the government of the Czech Republic approved an amendment to Lex Ukraine, this time with serial number seven, prepared by the Ministry of the Interior. This amendment brings key changes for Uk…
The most important changes in the taxation of investment funds
The draft of the amendment to the Act on Investment Companies and Investment Funds (hereinafter the “AICIF”), Parliamentary Press No. 570, a part of which is also an amendment to the Income Taxes Act, was signe…
Free trade agreement between the European Union and New Zealand
On 1 May 2024, a new free trade agreement between the European Union and New Zealand entered into force, with the aim of eliminating tariffs on goods originating in these countries over the period of seven year…
SAC: the price agreed between the parties cannot be disputed by the tax authorities unless it is evidently unreasonable
The Supreme Administrative Court (the “SAC”) ruled in a case in which it assessed the tax deductibility of costs incurred for intra-group services set at a flat rate. The tax authorities challenged the claimed …
List of nationals with free access to the labour market from 1 July 2024
The Amendment to Act No. 435/2004 Coll., on Employment, brings, among other things, an interesting modification concerning foreigners’ free access to the labour market. Thanks to the Amendment, the extension of…