In November 2011, seasonally adjusted retail sales went down 0.7% compared with October while compared with November 2010, they increased 0.5%, according to the figures published by the Czech Statistical Office (ČSÚ). Although the results beat market expectations, no trend of improvement in household consumption may be expected, according to Komerční banka analyst Miroslav Fray. […]
Criminal liability touches all Czech legal persons and entities that do business on the territory of the Czech Republic and it also applies to offences committed abroad. The company is responsible if it commits an offence in its own name or in the framework of its activities or if it is committed by an employee […]
1. Tax allowances Return of yearly tax allowance on taxpayer from last year’s CZK 23,640 to CZK 24,840 (abolishment of the so-called „flood hundred-crown note“) and increase in the child tax allowance from CZK 967 to CZK 1,117 monthly. 2. Insurance thresholds Decrease in the yearly threshold from last year’s CZK 1,781,280 to CZK 1,206,576 […]
The following news will be introduced from 2012 in the area of corporate income tax: The remuneration of the members of the statutory bodies is now a tax deductible expenditure (it concerns the members of the Board of Directors of joint stock companies and the Board of Directors of the cooperatives). Tax depreciation of receivables […]
A total of 29% of companies in the Czech Republic were victims of economic crime in the past year, while in 2009, “only“ 24% of companies were in the same situation. As well as elsewhere in the world, Czech companies are also being increasingly targeted by offenders via the internet. This has been shown by […]
Robert Neruda was named the twenty-first partner of Havel, Holásek & Partners. With 140 lawyers, Havel, Holásek & Partners is the largest Czech-Slovak law firm. In his new role, Robert Neruda will be co-responsible for the development of the firm’s specialised antimonopoly law practice group, as well as for the development of a legal team […]
Under the new law, an unlawful act committed in the name or interest of a corporate entity, or within its activity, will constitute a criminal act of such entity. Corporate entities can only be prosecuted for crimes explicitly defined in the Act. These include tax evasion, failure to pay obligatory insurance premiums, distortion of data […]
Amendments prepared in connection with the introduction of the Single Collection Point will shortly be discussed by the Senate, after the Chamber of Deputies approved Print No. 473 in the third reading. A motion to postpone the effective date of this Act to 2014, as agreed by the Coalition, was withdrawn during the discussions and, […]
An extensive amendment of the labour code proposed by the Ministry of Labour and Social Affairs was passed by Parliament on 9 September, 2011, yet the Senate and its left-winged majority turned the bill down during its meeting on 7 September. However, as expected, the governmental coalition outvoted the Senate’s veto and the amended law […]
The amendment to the Czech Employment Act aims at removing the most burning issues of the labour market, focusing on illegal work, job brokerage, employment of the disabled, and retraining. The major illegal-work related issue that has come under the spotlight of our lawmakers is the so called Svarc system (in Czech švarcsystém). Under the […]
