Tax & Legal Update
Revolution in providing information to investors?
In February, the European Supervisory Authorities (ESAs) disclosed the results of a public consultation regarding the essential elements of key information documents (KIDs). These are obligatorily provided to retail investors in compliance with the…
Personal Data Protection Office on when to perform a DPIA
When does it become necessary to carry out a data protection impact assessment? The Personal Data Protection Office attempts to answer this question with its List of Types of Personal Data Processing Operations Subject to Data Protection Impact…
TREND – a new programme to support industrial research
The National Research and Innovation Strategy for the Czech Republic’s Smart Specialisation (National RIS3 Strategy) is preparing an entirely new programme to support applied research and experimental development. The TREND programme builds upon the…
Amendment to VAT Act: Are meal vouchers liable to VAT?
The tax package returned by the Senate to the Chamber of Deputies, to be discussed again on 12 March 2019, contains, among other things, the implementation of the Vouchers Directive. This directive regulates the rules under which the VAT regime for…
Tax package 2019 – Senate propose changes
What is the stage of the 2019 tax package in the legislative process? Late in January, the Senate returned the bill to the Chamber of Deputies with amending proposals. Below, we summarise the most important ones.
Transfer prices and audits of financial statements
The beginning of each calendar year traditionally entails intensive work on audits of financial statements. Among multinational corporations in particular, accounting issues are very often closely connected to an audited entity’s cooperation with…
Do you use a coefficient to reduce VAT deduction entitlement? Watch out for…
A contribution submitted at the January meeting of the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate was meant to harmonise the practical approach to tax amount corrections by payers who apply…
Customs administration on trading after Brexit
On its website, the customs administration (i.e. the General Customs Directorate or GCD) has issued information on the practical aspects of trading after a no-deal Brexit.
New rules and duties for real property intermediaries
To protect consumers and enhance the quality of real property services, the government approved a new bill on real property intermediation and on changes to the Trade Licensing Act. Persons interested in the purchase/sale/lease/acquisition of the…
Brexit implications for Czech financial sector
The Czech Republic is preparing for a hard Brexit, as the deadline for the United Kingdom leaving the EU is approaching. Earlier this year, the government proposed a bill on Brexit designed to mitigate the impact on British citizens and corporations…
EU-Japan Economic Partnership Agreement
The EU and Japan's Economic Partnership Agreement entered into force on 1 February 2019, eliminating the majority of existing tariff and non-tariff measures pertaining to the delivery of goods and the provision of services, enhancing mutual…