Tax & Legal Update

Interest on retained excess deductions after 1 January 2015 – part one

The issue of compensation for unreasonably long examinations of excess deductions has again been raised with the Supreme Administrative Court. This time the court discussed the amount of interest for the period after 1 January 2015 when a 1%…

Personal Data Protection Office imposes first fines for GDPR breaches

With the adoption of the General Data Protection Regulation (GDPR) has come considerable uncertainty among personal data controllers and processors as to the amount of penalties to be imposed by the Personal Data Protection Office for its breaches.…

Simpler liquidation of corporations?

The government approved a draft decree aiming to simplify the liquidation process for legal entities from an administrative and financial viewpoint. Some entities will be entirely released from their duty to publish the date of their entering into…

New regulation of beneficial ownership

The Ministry of Justice has recently prepared a bill on the register of beneficial owners, which should replace and enhance the transparency of the existing beneficial ownership regulation contained in the Act on Public Registers and the AML Act …

Draft amendment introducing changes to assignment of workers

In June, the Ministry of Labour and Social Affairs submitted to the government a draft amendment to the Labour Code and the Employment Act in connection with the transposition of an amended EU directive concerning the posting of workers in the…

New call to receive support for energy saving measures in enterprises

The Ministry of Industry and Trade announced the fifth call within the Energy Savings programme on 16 July 2019, aiming to provide support to businesses adopting energy savings measures in their enterprises (including the use of energy from…

One step closer to efficient resolution of disputes arising from interpretation of…

The governmental bill on international cooperation in resolution of tax-related disputes in the EU has been submitted to the Chamber of Deputies. The bill responds to the necessity to implement the EU Directive on tax dispute resolution mechanisms…

GFD sheds light on application of VAT on vouchers

The General Financial Directorate (GFD) issued its Information on the Application of VAT on Vouchers, clarifying the application of value added tax on various types of vouchers and illustrating tax implications on several examples from practice.

2018 through the eyes of the Ministry of Finance

What was the last tax year like according to financial administration officials? The published statistics show interesting figures and facts: In 2018, the financial administration completed, among other things, 32 577 tax inspections and procedures…

Latest News, July 2019

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

Parliament passes extensive amendment to Foreign Nationals’ Residence Act

The amendment underwent significant changes in the course of the legislative process. The approved wording includes the government’s authorisation to set economic migration quotas and to activate extraordinary work visas. The amendment will also…

General meeting’s consent to transfer or pledge part of a business establishment

The Supreme Court sided with a formal and material approach to the ‘part of a business establishment’ term, specifying when the general meeting’s consent is required to transfer or pledge a significant part of a business establishment.