IFRS EU endorsement process [May 2024]
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 27 May 2024.
Energy Savings Call: Applications open now
In the first half of May, the Ministry of Industry and Trade announced the long-awaited call Energy Savings – Call II, and on 24 May, the application reception started. Entrepreneurs have the opportunity to rec…
News in grants: software development Applications Call
In the third quarter of this year, the Operational Programme Technologies and Application for Competitiveness (OP TAC) will bring a novelty in the area of subsidies for research and development – it is going to…
Sanctions for the “švarcsystém” tightened: Falsely self-employed workers may not pay off from the New Year
Lately, tight cooperation between companies and individuals has come under the scrutiny by the State Labour Inspection Office more and more often. In practice, the main risk lies in the assessment of the relati…
The SAC resolved a long-lasting uncertainty regarding the interest on withheld tax deductions
In its recent judgment, the Supreme Administrative Court (SAC) took up its preceding ground-breaking decisions regarding the tax deduction interest rate and responded to the probably last remaining question abo…
VAT news [May 2024]
The European Commission postponed VAT changes that were to become valid in 2025 for several years. The Court of Justice of the European Union clarified rules for the determination of tax base for internally dev…
E-invoicing postponed to 2030: Why you should not wait
On 14 May 2024, an amendment to the VAT Directive was discussed at the European Union level (ECOFIN). This amendment contains three main pillars aimed at modernising and simplifying the tax system in the EU. Th…
Amendments to IAS 7 and IFRS 7 endorsed for use in the EU
On 15 May 2024, the amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures titled Supplier Finance Arrangements were endorsed by the European Commission for use in the Europea…
IASB issued new standard IFRS 19
On 9 May 2024, the International Accounting Standards Board (IASB) published its new standard IFRS 19 Subsidiaries without Public Accountability: Disclosures. The new standard will be effective for annual perio…