Legal
A new IFRS16 Leases standard
The International Accounting Standards Board (IASB) issued a new IFRS16 Leases standard, introducing considerable changes in the method of accounting for leased assets. The new standard will affect a large number of business entities. Even though…
With a lease of business premises you may be taking over the previous tenant’s…
The Supreme Court recently dealt with two similar cases – hospitality entrepreneurs started to operate in leased premises whose former tenants had carried out similar business activities. The new tenants were up for a most unpleasant surprise:…
Another amendment to the new Civil Code and Corporations Act
In late September, a group of deputies submitted to the government a bill partly modifying the yet unamended core regulations of the new private law – the Civil Code and the Act on Corporations. The proposed changes mostly concern unit owners’…
Stability of insurance companies enhanced?
An amendment to the Act on Insurance implementing, inter alia, the Solvency II Directive into the Czech legal system, was published in the Collection of Laws under No. 304/2016. This legislative change mainly aims to enhance the financial stability…
AML rules even stricter
The transposition of the new EU directive on the prevention of the use of the financial system for money laundering or terrorist financing purposes is far from complete. However, the European Commission has already submitted a proposal further…