In this article, we discuss the publication of the paragraph-by-paragraph text of the new draft Accounting Act for comment. We will present three major changes that the law is expected to introduce to the practice of financial accounting and reporting and for which it is essential to prepare in...
You have probably already noticed the draft amendment to the VAT Act, which is set to increase the limit for compulsory VAT registration from CZK 1 million to CZK 2 million. Many small VAT payers were surely delighted by the publication of this proposal, because those with turnover in the range...
Businesses have already become accustomed to the increased administrative burden introduced by the new rules for registering beneficial owners under the AML Directive since the middle of last year. The relatively easy-to-fill-in online form suddenly became a process that took several hours, one...
The Chamber of Deputies approved an amendment to the International Cooperation in Tax Administration Act, which introduces a new obligation in the digital economy for operators of digital platforms.
On 11 October 2022, the MIT published a grant call Czech Rise Up 3.0 - Consulting for digital transformation of enterprises. The funding will be provided for the purchase of consultancy services - identification of processes (screening), their evaluation and proposals for solutions (setup/design)...
From 1 January 2023, the forthcoming amendment to the VAT Act will come into force. In addition to increasing the turnover threshold for registration, it should also adjust the penalties for control reporting.
The long-awaited draft amendment to Act No. 262/2006 Coll., Labour Code, as amended, and some other acts has been sent out for inter-ministerial comments. The amendment responds primarily to the alignment of Czech labour law with European directives, namely the Directive on work-life balance for...
In its judgment of 14 September 2022 (7 Afs 132/2022 -22), the Supreme Administrative Court confirmed that when assessing the costs incurred in connection with the reconstruction of a hayloft destroyed by fire, the identification of what was removed as a result of the insured event and whether...