IASB published amendments to IAS 12
On 7 May 2021, the International Accounting Standards Board (IASB) published Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction that clarify how companies acco…
In Brief from International Taxation [May 2021]
May’s news from international taxation among other introduces a follow-up on CJEU cases on dividend distribution, summarises an CJEU opinion on dividend payment to collective investments undertaking and informs…
Tax waiver in relation to a professional education allowance
On 27 April 2021, the Minister of Finance issued another resolution on waiver of income tax on the grounds of an extraordinary event caused by the coronavirus spread. This time, it relates to the income tax cor…
Access to technical standards now free of charge for the general public
Based on diverse legal regulations, a vast number of Czech technical standards are binding for their intended users. This is particularly true in the construction industry as well as other fields where special …
The Supreme Court of the Czech Republic: Statutory warranty not renewed when the product is replaced or repaired
Much has been written about the statutory warranty, or, in the terminology of Act No. 89/2012 Coll., Civil Code, as amended (the “Civil Code”), the legal obligation arising from defective performance, by profes…
Outsourcing in financial institutions, including cloud outsourcing
Outsourcing is a topical issue irrespective of specific industries. This trend is driven by multiple factors, predominantly potential financial savings, development of technological solutions and the digitalisa…
Announcement of the first full call in the HEAT programme
The new Modernisation Fund announced the first-ever so-called actual call in the HEAT programme aimed at modernising heat energy supply systems. Until 1 February 2021, it was possible to submit preliminary regi…
Remission of penalties, interest and now also fines for the late filing of a tax return
The additional tax assessment by the tax administrator gives rise to the obligation to pay interest on arrears; in addition, this often entails penalties, which may, in total, exceed the amount of the additiona…
News in investment incentives
In response to the ongoing Covid-19 pandemic, the legislative boom did not forget about investment incentives and the sphere of popular state aid saw positive changes. What are the news for which applicants nee…