OECD Pillar Two updates
On 17 July 2023, the OECD/G20 Inclusive Framework on BEPS published a package of documents on the implementation of the Pillar Two global minimum tax rules (“Pillar Two”). The package includes additional admini…
Generative AI and AI Act
The introduction of the ChatGPT model at the end of 2022 marked a remarkable technological milestone – the deployment of generative artificial intelligence. This represents an attempt to develop what is known a…
The Whistleblower Protection Act has come into force. What is important to know?
The Czech Republic has finally fulfilled its obligation and completed the implementation of the EU Whistleblowing Directive. The new regulations, Act No. 171/2023 Coll., on the Protection of Whistleblowers (the…
Introduction of AI systems with unacceptable, limited and minimal risks
While the primary goal of the AI Act is to regulate high-risk AI systems and ensure their safe operation within the EU, it is imperative to understand the entire spectrum of AI systems. The proposed risk-based …
Introduction of high-risk AI systems
The AI Act, or the Artificial Intelligence Act, focuses primarily on the category of high-risk AI systems, as their inadequate use could endanger health, safety, or human rights. All three legislative bodies of…
Current state of EU legislation on AI
Legislative processes within the European Union may seem complex not only in terms of their form but also in terms of their timeframe. This is also true for the Artificial Intelligence Act (AI Act). To provide …
IFRS EU endorsement process [June 2023]
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 2 June 2023.
In brief from international taxation [June 2023]
In the UK, the Netherlands, Guernsey, Jersey and the Isle of Man, the legislative processes related to Pillar Two of the OECD’s international tax reform continue. The Canton of Geneva will replace the municipal…
Cross-border work in the EU: social security and the new framework agreement
The EU Administrative Commission has approved a new framework agreement on social security coordination, which will come into force on 1 July 2023. The agreement responds to the changing labour market, in parti…