Tax & Legal Update
Rosy prospects for green investments
In May 2018, the European Commission (EC) presented a package of legislative proposals aiming to promote sustainable finance. The package includes a regulation on disclosures concerning the sustainability of investments, and a regulation on the…
Japan-EU Economic Partnership Agreement signed
Representatives of the EU and Japan met in Tokyo to sign an agreement on economic cooperation. It aims to create new opportunities for the import of agricultural products from the EU, remove Japanese customs duties on products such as cheese or wine…
Another step towards greater transparency of corporate structures?
An extensive amendment to the Corporations Act, prepared by the Ministry of Justice, is presently being debated by the Chamber of Deputies. In this article, we look into the changes that the amendment should bring for members of elected bodies of…
Financial administration’s report for 2017: revenues have grown, mostly from VAT
In July, the Czech financial administration published a report on its activity for 2017: revenues have grown for both direct and indirect taxes. The main cause is the Czech economy’s faster growth and related higher spending by households and…
Omnibus passed – administration to resume for suspended payment requests
On 16 July 2018, the Council of the EU adopted an amended omnibus regulation that lays down the conditions for drawing support from EU funds. The omnibus promises an overall simplification of the system of support. It constitutes a positive step for…
Another obstacle to posting of workers by Japanese investors gone
On 1 August 2018, a protocol amending the Social Security Agreement between the Czech Republic and Japan entered into force. This step will be most welcome by Japanese workers temporarily posted to key positions in the Czech Republic.
2019 VAT amendment: Are limited liability company statutory representatives VAT…
In the third article on the most important changes in VAT effective from 2019, we provide answers to the above questions.
Research and development allowance revisited
Late in June 2018, the Council for Research, Development and Innovations adopted a proposal for measures aiming to eliminate companies’ uncertainties when claiming R&D allowances. The new conditions have been agreed on by a working group comprising…
When does the super-gross salary concept apply to benefits from third persons?
The Regional Court in Hradec Králové has recently dealt with the income tax implications of employee benefits provided by third persons. The court’s decision affects the determination of employees’ super-gross wages.
Users may be responsible for Facebook’s activity
The recent judgement of the Court of Justice of the EU (CJEU) will not please many administrators of ‘fan pages’ hosted on Facebook: in its ruling in case C 210/16 ULD vs. Wirtschaftsakademie, the CJEU concluded that the administrator is in the…
CJEU setting stricter rules for on-call time of workers
The Court of Justice of the EU (CJEU) dealt with a dispute between a Belgian firefighter and his employer regarding the employee’ entitlement for being on call (stand-by duty). The court held that that if the employee had to respond to the…