In practice, we can see that the tax authorities have increased their control activities, and in view of the state of public finances, this trend can be expected in the future as well. The initiation and conduc…
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…
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…
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.…
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…
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…
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…
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…
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…