Šárka Gregorová Awarded IR Global Gold Member Status

At our recent Annual Conference in London (Oct 2021), we had the pleasure of awarding Šárka Gregorová  gold member status as recognition for their ongoing commitment and hard work within the IR Global network. This is a prestigious honour bestowed by IR Global upon members who we consider have made a substantial contribution to the […]

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Amended procedure for leave entitlement assessment

An amendment to the Labour Code took effect at the beginning of 2021, bringing changes to leave entitlement assessment and significantly changing the entire concept of leave. Leave will no longer be reduced or partly reduced if the condition of 60 days of work and absence from work for at least 100 days due to […]

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Czech Republic: a dynamic industrial and technology investment destination

Foreward by Andrew Chilvers During the past two decades the key nations of Central and Eastern European (CEE) have grown significantly following moves to liberalise their economies. On average Poland, the Czech Republic, Hungary, Bulgaria and Romania, to name a few, increased their per capita GDP by 115% between 2004-2020. Employment was at its lowest […]

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Key ruling of the Supreme Administrative Court

Good news entrepreneurs eligible for investment incentives With effect from 1 May 2015 an amendment to the Law on Income Tax brought a reduction of sanctions for entrepreneurs who failed to comply with the conditions set out by the investment incentives regulation. Under previous legislation, in such cases the Tax Office was entitled to revoke […]

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Back to the workplace

Restrictions implemented by the governmental measures to prevent the further spread of coronavirus disease have been recently significantly released. The employers are now deciding whether to call their employees back to the workplace and whether and, if so, how to adapt the workplace. In this article we try to outline some related aspects with the […]

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Using the regular financial statements of joint stock companies for profit distribution in the following accounting period

During the effective period of the previous legislation, the Supreme Court concluded that the 6-month period for convening the annual general meeting counted from the end of the last accounting period also represents the last day for using the regular financial statements for profit distribution in joint-stock companies. However, this meant that, after this period, […]

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No Translations and Apostille will be no longer needed for Criminal Record Certificates within the EU

The duty to present a Criminal Record Certificate is an inconvenience well-known to many EU citizens interacting with authorities of another member state. It is true that most member states perform the necessary checks themselves when it comes to their own citizens, and the competent authorities can thus obtain information regarding the person’s criminal history […]

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General Introduction of the Reverse Charge Mechanism

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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UK-expats – do not lose your residence in the Czech Republic after Brexit – learn how can you keep your rights

According to the EU law, UK citizens may stay and work freely in the Czech Republic without any required permits being (e.g. visa, work permits etc.) Nevertheless, on 29 March 2019, the situation is about to change with the withdrawal of the United Kingdom from the European Union. The legal status of UK citizen has […]

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Czech businesses to publish their financial statements in Commercial Register or they may be dissolved

Companies are under obligation to publish their annual financial statements in the Collection of Deeds of the Commercial Register in which they are accessible to public. If a firm fails to meet the obligation, it may be (even repeatedly) fined up to CZK 100,000 by the Registration Court, and in the most serious cases the […]

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Joint representation by a statutory body member (executive) and a proxy

While setting the manner of representation a company, clients often require that the four-eyes principle should apply; it means that the company is always represented by e.g. at least two executives. (Not only) if a company has only one statutory body member (e.g. one executive), a possibility of inclusion of both an executive (a statutory […]

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