Announcement of new “COVID” calls
At the beginning of March, the Czech Government has approved two new programmes for the support of enterprises and entrepreneurs affected by the COVID-19 pandemic, namely COVID – Uncovered Costs and COVID-2021.…
IASB finalised amendments to IAS 8 regarding accounting estimates
On 12 February 2021, the International Accounting Standards Board (IASB) published Amendments to IAS 8 Definition of Accounting Estimates to help entities to distinguish between accounting policies and accounti…
Public tender in the TREND Programme for the support of industrial research and experimental development
On 10 March 2021, The Czech Technology Agency announced the fourth public tender focusing on the support of the TREND industrial research and experimental development, in the “Nováčci” (Newcomers) sub-programme…
IASB finalised amendments to IAS 1 and the Materiality Practice Statement
On 12 February 2021, the International Accounting Standards Board (IASB) issued amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements titled Disclo…
Current Topics in Excise Taxes
If you purchase, sell, or even manufacture disinfectants, have you ever thought about the possible consequences of excise tax on spirit? As a result of a decrease in the tax rate on diesel fuel, there may be co…
Judgment of the Supreme Administrative Court on default interest
In February 2021, the Supreme Administrative Court issued a judgment in which it commented on the length of the period for which interest on late payment of tax arrears is applied.
VAT news [March 2021]
In the latest VAT news, you will learn that an amendment to the VAT Act will bring about a change in e-commerce rules or that the Minister of Finance has again extended the option to supply respirators VAT excl…
The Supreme Administrative Court rejected the practice of the Tax Authorities regarding the establishment of a lien on a non-final…
The Tax Code allows the tax administrator to secure unpaid tax by establishing a lien on the property of the taxable entity. If the taxable entity fails to pay the tax secured by the lien in a proper and timely…
“Isolation Bonus“, i.e. Extraordinary Contribution to Employees under Quarantine Order
On 5 March 2021, Act No. 121/2021 Coll., on Extraordinary Contribution to Employees under Quarantine Order, became effective. Under this Act, employers are obligated to compensate employees for reduced income r…