Financial market about to change
In mid-February, an amendment that may bring significant changes to several financial market segments was submitted to the Chamber of Deputies. What are the amendment’s major points? What should entities operating in the financial market prepare…
New EU regulation on public documents - the end of apostilles in EU
In mid-February, a new regulation on public documents in the European Union (No. 2016/1191) entered into effect, aimed to promote the free movement of persons within the EU by simplifying the requirements for presenting certain public documents,…
9 major tax changes in case of no-deal Brexit
The planned date of Great Britain’s withdrawal from the EU set for 29 March 2019 has been postponed. However, a British proposal for postponement until 30 June 2019 has not been approved by the EU27. Below we summarise the major potential impacts of…
Guidance on determining beneficial ownership: part two
The Court of Justice of the EU issued judgments in a number of cases dealing with beneficial ownership for EU directive purposes. The cases at issue mostly involved the application of an exemption from withholding tax on dividend and interest…
Latest news - April 2019
Last month’s tax and legal news in a few sentences.
Brexit to change application of withholding tax and securing of tax
The United Kingdom has been trying to reopen the negotiation of the Brexit agreement with the EU, so far without success. If the agreement is not approved by the British parliament, a no-deal Brexit appears likely. The Czech Republic has prepared…
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…
Brexit: time for a deal running short
Although the exit agreement between the United Kingdom and the EU is ready, it has not yet been ratified. The key vote in the British parliament lies ahead: if the deal is not passed, there will most likely be a no-deal Brexit. In this uncertain…
Chamber of Deputies passes tax package – highlights
Just before the holidays, the Chamber of Deputies passed the so-called tax package (Print No. 206). The draft amendment still needs to be discussed by the Senate in January. Below, we draw attention to some changes in personal income tax and VAT.
Generally applicable reverse charge mechanism
At its October session, the Economic and Financial Affairs Council (ECOFIN) approved a proposal allowing the EU member states to temporarily implement a generalised reverse charge mechanism until 2022.
Brexit: What happens if UK leaves the EU with no deal?
In mid-July, the UK government published more than a hundred-page-long document called the UK-EU Future Relationship White Paper, providing information on how the relationships between the UK and the EU should look like with respect to the economy,…
American import duties: a trade war and accumulating WTO complaints
A few months have passed since the USA introduced duties on the imports of steel, aluminium, solar panels and washing machines. Currently, no end is in sight for one of the modern history’s greatest trade conflicts. The number of import duties is…