News

Criminal Record Certificates in the EU without Translations and Apostille

Wednesday, 9. January 2019 - 11:12
  Submission of a Criminal Record Certificate can be undoubtedly marked as “evergreen” faced by many EU citizens when dealing with authorities of another member state. The truth is that nowadays most member states check their own citizens themselves and the respective authorities can thus make their own conclusion regarding the person’s criminal...

An amendment to civil lawsuit will (may) restrict expert opinions submitted by parties to a dispute

Wednesday, 19. December 2018 - 14:56
The House of Deputies is currently considering a draft amendment to civil lawsuit. The amendment should affect expert opinions and the assessment thereof by the court within the framework of the relevant proceedings. The objective of the amendment is to clarify and shorten civil court proceedings.  Given the current situation, each party may...

Reporting Taxable Transactions in an Incorrect Tax Period

Friday, 14. December 2018 - 10:05
Although Section 104 of Act No. 235/2004 Regulating the Value Added Tax is fairly straightforward and it has been part of the Act for a long time, the tax administrators’ approach to its application has varied. Conclusions reached by a special Coordination Committee in May 2018 could help unify the process. The Coordination Committee 521/02.05.18...

The Importance of Correct and Updated Data in the Commercial Register – Failure to Comply May Result in the Involuntary Liquidation Ordered by Court

Friday, 14. December 2018 - 9:57
The Civil Code, the Business Corporations Act, and the Act Governing the Public Registers of Legal Entities contain a number of provisions regulating the non-voluntary and irrevocable dissolution of a legal entity with liquidation by a registration court. The court proceeds with such a dissolution if the legal entity fails to properly meet the...

Schaffer & Partner organized a conference for German-speaking members of the AGN international network

Thursday, 13. December 2018 - 16:39
This year we had the honour to organize an AGN conference, which was held from 29 November to 1 December 2018 on the prestigious premises of the Czech-German Chamber of Commerce and Industry (CNOPK) in Wenceslas Square. We purposely chose the venue at the headquarters of the Czech-German Chamber of Commerce and Industry, because the organization...

Recognition of official documents between EU countries will be significantly simplified soon

Thursday, 22. November 2018 - 10:08
On 16 February 2019, an EU regulation will come into effect, repealing the requirement for a higher certification of authenticity, especially apostillation, for certain public documents issued in another EU Member State. The regulation applies to personal status documents such as birth certificate, death certificate, marriage certificate,...

Martin Felenda attended the prestigious AGN Tax and SaLT conference in Washington

Tuesday, 13. November 2018 - 9:32
Ing. Martin Felenda, managing partner of Schaffer & Partner advisory group, auditor and tax advisor, attended the AGN Tax and SaLT Conference, held in Washington, D.C., capital of the United States of America, on 4–6 November 2018. The most important tax topics of the conference were: • US federal tax update with the latest tax reforms, •...

How to treat vouchers and coupons in 2019?

Wednesday, 7. November 2018 - 10:23
The proposed amendment to the Act on Value Added Tax transposes changes made in Council Directive (EU) 2016/1065 which will take effect in January 2019 and stipulates, among other things, new harmonised rules for the application of value added tax to various types of vouchers. Until now, this matter has never been specifically addressed in the VAT...

Free entry in the ultimate beneficial owner data register – only until the end of 2018

Thursday, 25. October 2018 - 17:06
Since January 2018, legal entities entered in the public register and trust funds entered in the trust fund register have been obliged to state their ultimate beneficial owners in the newly established Register. The aforementioned obligation applies not only to business corporations and trust funds, but also associations, foundations, institutes,...

General introduction of the reverse charge mechanism

Wednesday, 24. October 2018 - 15:40
At the October meeting of the Economic and Financial Affairs Council (ECOFIN), a proposal was approved on the possibility of general extension of the VAT reverse charge mechanism to domestic taxable transactions. The principle of reverse charge simply moves the obligation to pay tax from the supplier to the customer. At present, this principle is...

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