Modernisation Fund – new environmental support

The Modernisation Fund as a new EU programme for 2021–2030 provides support for investments to modernise energy systems, improve energy efficiency and use renewable resources.

News in brief, April 2021

Last month’s tax and legal news in a few sentences.

European financial transaction tax back on the table

Portugal is trying to reopen in the Council the debate on the proposal for a financial transaction tax at the EU level. The debate should focus on setting the conditions of taxation and avoid political issues.

OP EIC – new calls for summer 2021

Last calls under the popular Potential, Application and Innovation – Innovation Project programmes are to be announced under the Operational Programme Enterprise and Innovation for Competitiveness (OP EIC) that is slowly drawing to an end.

Waiver of sanctions for late filing of 2020 income tax returns

With respect to the persisting effects of the SARS-COV-2 pandemic, the Ministry of Finance has issued another liberation measure that under certain conditions waives the penalties charged to taxpayers for the late filing of income tax returns for…

Information on ATAD – continued

In the March issue of our Tax and Legal Update, we commented on the General Financial Directorate’s Information on Measures Arising from the Implementation of the Anti-Tax Avoidance Directive (ATAD). This time we summarise information on the…

Preferential tax treatment is illegal public aid, even FC Barcelona will feel it

The Court of Justice of the EU (CJEU) has finally closed a long-standing dispute over the preferential tax treatment of the largest football clubs in Spain. The conclusion is unforgiving: FC Barcelona, FC Real Madrid and other clubs will have to pay…

Representation of limited liability company by statutory representatives and its…

When founding and operating a limited liability company, its members usually deal with the issue of setting up its corporate governance and defining the powers of the statutory representatives (executives). In this article, we will present the…

New COVID-related business support programmes

The government announced new programmes to support business activities: COVID – Uncovered Costs and COVID – 2021. Applications will again have to be submitted through the Ministry of Industry and Trade’s Agenda Information System (AIS MPO) portal as…

Municipal Court holds protective measure contrary to law - rules for returning from…

On Wednesday 31 March, the Municipal Court in Prague annulled part of the protective measure regulating the crossing of state borders, on the grounds of it being contrary to law, effective 5 April. The Ministry of Health responded on Saturday by…

Is additional tax assessment due to VAT fraud reason enough not to waive penalties?

If the tax administrator concludes that a VAT payer has even indirectly been involved in VAT fraud (typically, by having accepted a delivery affected by fraud), the entitlement to VAT deduction will be withheld from the payer. The payment of…

Concluding contracts between single-member companies and their members

In small, single-member companies, the member is usually closely involved in the company's activities and its management, therefore often holding the office of the statutory body. Sometimes, the sole member who represents the company as its…