Tax & Legal Update
Regulation on foreign subsidies: new obligations to affect mergers and public…
Until now, the EU has not had the instruments to prevent distortions of the EU market due to foreign subsidies or to prevent an unfair advantage for subsidised companies from third countries. This should change with new Regulation (EU) 2022/2560 of…
GFD publishes Q&As on DAC7
The document providing methodological guidance through questions and answers summarises the obligations of digital platform operators arising from the new reporting obligation relating to sellers and sales made through these platforms.
New Accounting Act has clear outlines
The law promises to reduce the administrative burden and move accounting towards international standards. Together with implementing decrees, accounting standards, and a law amending related legislation including the Income Tax Act, the act should…
Horizon Europe programme for innovation development in enterprises
Horizon Europe is the research and innovation framework programme running from 2021 to 2027. It is the most important instrument for supporting research and innovation in Europe and worldwide. Successful projects will be entitled to the…
SAC on proving identity of customer from another member state
The Supreme Administrative Court (SAC) has referred a preliminary question to the Court of Justice of the EU whether it is possible to deny the right to VAT exemption of supplies of goods to another EU member state if the supply to a specific…
CJEU on the right to deduct VAT if supplier pretends to be another person
The Court of Justice of the European Union (CJEU) recently ruled that taxpayers involved in tax fraud shall be denied the right to deduct VAT in full, even if the loss of tax revenue (tax evasion) is lower.
Court agrees: bonds issued under commission agency agreement not to be included in…
The court agreed with our tax litigation team in a dispute concerning thin capitalisation rules. When applying the test, the economic substance of the credit relationship should be taken as a basis – the bonds issued for unrelated investors under a…
EU tightens rules for placing coffee, palm oil, or beef on the market
The EU is preparing a regulation imposing stricter rules for making certain commodities and products available on the EU market and exporting them from the EU market. The new regulation shall apply, for instance, to coffee, soy, palm oil, cattle, or…
EU directive ensuring minimum taxation level enters into effect
The EU member states have finally agreed on the introduction of a minimum effective tax rate: the directive on ensuring a global minimum level of taxation for multinational groups and large national groups entered into effect on 23 December 2022. It…
Overturning financial administration decisions
The Appellate Financial Directorate has rejected your appeal and you disagree with the decision. Can you defend yourself further? Is it at all worth continuing the dispute with the financial administration? Today, we will focus on these and other…
Notification obligation when employing foreigners also applies to foreign companies
One of the administrative tasks connected with employing foreigners is the employer's notification obligation towards the Czech Labour Office. Even Czech employers are often not aware of this obligation, or do not know how to deal with the…