News

Coronavirus and law – the legal situation in Spain and the reopening of a bankrupt textile enterprise for “the common good”

Tuesday, 26. May 2020 - 10:15
In cooperation with our Spanish partner law firm we are bringing you an overview of how Spain is tackling the coronavirus crisis from the legal perspective. The Spanish government has issued a state of emergency based on a royal decree. Like in other EU countries, Spanish employers may apply for short-time work ("Kurzarbeit”). According to the...

Abolition of real property acquisition tax

Thursday, 14. May 2020 - 13:32
The government has prepared a bill abolishing the real property acquisition tax, which currently amounts to 4% of the total purchase price, with effect from 1 January 2021. According to the transitional provision, the real property acquisition tax should already not be paid for those transfers where registration was allowed by the land registry...

Czech National Bank cuts interest rates

Tuesday, 12. May 2020 - 17:44
The Bank Board of the Czech National Bank lowered the repo interest rate by 75 basis points to 0.25 % and the Lombard rate by 0.25 basis points to 1 %. The new interest rate levels come into effect on May 11.  The Nationalbank reacts on the negative development of the market with regards to the COVID-19 pandemic and follows the cutting of the key...

Amendment on increase of Day-care allowance

Friday, 24. April 2020 - 15:36
A bill that increases the day-care allowance from 60 to 80 percent has been adopted. The recipient of this allowance shall thus receive approximately up to 90% of his net income. The increased allowance will continue to apply to parents taking care of their children up to age of 13 years who cannot attend school and pre-school institutions due to...

Loss carry back option

Friday, 24. April 2020 - 15:14
The government is preparing an amendment to Income Tax law which expands tax loss carry back options for two preceeding taxable periods. The amendment also introduces a prolongation of loss deduction from the current 5 subsequent taxable periods to 6. The tax payer could exercise the tax  loss carry back right by submitting an additional tax...

VAT refund period: 30 days will remain unchanged

Friday, 24. April 2020 - 15:06
One of the Corona pandemic related regulations is a new bill which, if approved, would extend the VAT refund period from 30 to 45 days. This shall be introduced by an amendment of the Tax Administration Code. The current VAT refund period of 30 days will thus be kept until 31st December 2020, regardless of when this amendment of the Tax...

JUST IN – a groundbreaking court’s decision may pave the way for compensation for state-ordered restrictions

Thursday, 23. April 2020 - 20:59
On April 23rd, 2020, the Municipal court in Prague has revoked four measures of the Ministry of Health, which have introduced significant restrictions of free movement of persons, retail sales and the provision of services. The measures have been effective since March 22nd, 2020. According to the court, it is only the government that may order...

Right to Meal Vouchers when working from home

Wednesday, 22. April 2020 - 12:01
Many of our clients are currently addressing this issue in relation to the COVID-19 pandemic, asking whether their employees are still entitled to meal vouchers, although they have to work from home due to the emergency measures, so called “home office”, and whether it is possible, in this case, to include meal vouchers costs in the tax-deductible...

Less personal visits to the Ministry of Interior – communication via post or electronic means preferred

Wednesday, 1. April 2020 - 12:33
Before the COVID-19 pandemic, the personal presence of a foreigner at an office of the Ministry of Interior was required for a number of legal acts. In the interest of restricting the movement of persons in official premises, it was now decided that the personal presence of a foreigner will be required only when absolutely necessary, i.e. the...

In these difficult days - we are still here for you

Monday, 30. March 2020 - 18:57
Dear clients, The situation concerning the current SARS-CoV-2 virus outbreak is developing with unexpected speed. This applies also to the legal measures, which are implemented and for the “old” once, being adjusted, whereas the situation is changing from day to day, literally. Please check our website regularly, where we constantly strive to...

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