Public Support of E-mobility
Sustainable development, the decarbonisation of the European economy and the use of renewable energy sources are topics that are currently stirring the public sphere in the context of the Green Deal, which is a…
How to deal with inventory and stocktaking
One of the key activities in the year-end closing and financial statements preparation is stocktaking. Finding out the actual balances of assets and liabilities and comparing them with accounting records is one…
Risks and obligations associated with keeping the payroll records of non-resident employees
Keeping the payroll records of employees who are not tax residents in the Czech Republic may pose complications for the employer‘s payroll department, as specific rules and obligations apply to these employees.…
Amendment introduces the fiction of delivery of private-law documents and extends the group of obligatory users of data boxes
One of the next steps following the adoption of the Digitisation Act includes changes in the use of data boxes. From January 2022, the approved amendment will introduce the option of delivering private-law docu…
Prepare to prove cross-border transactions
Where is the trend of tax audits for cross-border payments heading? Definitely to proving the fulfilment of the conditions for the application of preferential tax regimes, not only formally but also in practice…
Standard IFRS 17 endorsed for use in the EU
On 23 November 2021, the IFRS 17 standard Insurance contracts together with the amendments to IFRS 17 were endorsed by the European Commission for use in the European Union. The EU effective date is the same as…
Sanctions for poor bookkeeping and their lapse time limits
If an entity does not fulfil its obligations arising from the Accounting Act, it faces a fine for such administrative delict. Sanctions are usually based on the value of assets, they may amount up to 3% or 6% o…
IFRS EU Endorsement Process [November 2021]
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 23 November 2021…
Visa rules for remote work from abroad
The concept of remote work is reaching the peak of its popularity. With remote work becoming increasingly available and more popular, more and more employees opt to work partly or entirely out of their office. …