IFRS EU endorsement process [May 2022]
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 2 May 2022.
SAC upholds entitlement to higher compensation for withholding VAT deductions
Deloitte Legal’s tax litigation team has succeeded in obtaining a landmark ruling in the area of compensatory interest on tax deductions, ending a period of uncertainty over the amount of compensation to which …
THETA public tender to support developments in the energy sector
In early June, the Technology Agency of the Czech Republic plans to announce the THETA programme, a public tender aimed at supporting applied research, experimental development and innovation. The programme wil…
DELTA 2 public tender to promote international cooperation
The Technology Agency of the Czech Republic has announced a new tender for support of applied research, experimental development, and innovation in the field of support of international cooperation. The aim of …
Three new calls from the Modernisation Fund
The Modernisation Fund (MF) is a new means of financing environmentally friendly projects for a period of up to the next ten years. Its aim is to aid countries that are lagging behind the economic performance o…
VAT news [May 2022]
The adopted amendment of the VAT Act enables EU bodies to retroactively purchase goods used to combat the COVID-19 pandemic without VAT. The European Court of Justice ruled on the utilisation of a reduced VAT r…
Czech courts have issued the first rulings on cryptocurrency taxation
For the first time, the Regional Court in Brno dealt with the issue of taxation of the sale of cryptocurrencies in terms of personal income tax. It commented on the issue in judgments No. 30 Af 41/2020-49 of 24…
Additional claim of higher tax relief for investment incentives is possible
Taxpayers who were promised an investment incentive can claim tax relief in their tax return, which might, in some cases, reach up to 100% of their tax liability. However, what should be done when a company fin…
IFRS Foundation publishes the sixth compilation of IFRS Interpretations Committee agenda decisions
The IFRS Foundation has issued, “Compilation of Agenda Decisions — Volume 6” which contains all the agenda decisions made by the IFRS Interpretations Committee from November 2021 to April 2022.