IFRS EU Endorsement Process [March 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 15 March 2021.
Payment of Profit Shares and Advances on Profit Shares following the Amendment to the Business Corporations Act
In the November issue of dReport, we informed you about principal impacts of an amendment to Act No. 90/2012 Coll., on Business Corporations and Cooperatives (hereinafter the “Business Corporations Act”). I…
Tax alert: Change in the schedule of calls in the OPEIC for 2021 and the last possibility of drawing subsidies in current programm…
On 19 March 2021, the Ministry of Industry and Trade of the Czech Republic changed the current schedule of calls for 2021. A fundamental change is the planned announcement of calls in the Applications, Innovati…
When does the burden of proof pass to the tax administrator?
The recent judgement of the Supreme Administrative Court (ref. no. 1 Afs 73/2019-71) confirmed the way in which the burden of proof is distributed between the taxable entity and the tax administrator during the…
Public tender in the THETA Programme for the support of applied research, experimental development and innovations
In February, The Czech Technology Agency has announced the fourth public tender focusing on the support of applied research, experimental development and innovation. The THETA programme focuses on the support o…
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…