VAT news [October 2021]
Starting from the next year, changes in the VAT application in the provision of performance subject to a special scheme for travel agents will take effect. According to the Court of Justice of the European Unio…
Information of the General Financial Directorate on transfer pricing in financial transactions
On 9 August 2021, the General Financial Directorate issued information on the guidance on transfer pricing in financial transactions (the “Information”) in which the General Financial Directorate refers to Tran…
I-46: A new interpretation of the National Accounting Council
The following article briefly summarises the key points of the new National Accounting Council’s interpretation I-46: the accounting treatment of free business and settlement shares in limited liability compani…
Reintroduction of exemption of non-residents’ interest income from so-called Eurobonds
On 30 September 2021, an amendment to the Banking Act was published in the Collection of Laws, which was altered during the legislative process to also include an amendment to the Income Tax Act. This amendment…
OECD: Implementation plan of a two-pillar solution
The OECD kept its promise and issued a Statement on 8 October 2021 involving a draft implementation plan of the two-pillar solution to address the tax challenges arising from the digitalisation and globalisatio…
A new interpretation of the National Accounting Council on the accounting treatment of a free business and settlement share
The Czech National Accounting Council has approved the new interpretation I-46 (“the Interpretation”) on the accounting treatment of free business and settlement shares in companies with limited liability and a…
Legal News [September 2021]: Airbnb provides accommodation services, not rentals
The Municipal Court in Prague has decided that short-term rentals made through Airbnb fall within accommodation services, and thus have to be taxed as a business activity. The Supreme Court found that the exces…
Obligations related to the posting of workers to the Czech Republic from abroad are not to be underestimated
In recent years, the compliance with labour regulations applied when posting workers within the EU in connection to the provision of services has come under scrutiny of inspection authorities and in this respec…
Timetable for receiving applications in the OP EIC and MF calls [September 2021]
We are bringing you the current timetable of calls, including a brief description of the focus and deadlines set for receiving aid applications in each call.