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Czech & Slovak localization package for NetSuite

21.9.2015
We are a localization partner of NetSuite. Currently we are developing a supplement to the system to support Czech and Slovak accounting standards and practices. Among the essential items of CZ/SK package belongs: the official Czech accounting statements Balance Sheet and Profit and Loss Statement, support for processing of received advances, the processing of open […]
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5 Top Tips For Cloud Computing

18.9.2015
Businesses adopting cloud is nothing new – it’s estimated that almost 80 percent of UK organisations now employ at least one cloud-based application. That said, many business still use on-premise models. When applied to the ever-changing business world, which is rife with new technology challenges, organisations can struggle to understand where cloud fits into their […]
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VAT judgments – interest on retained VAT deduction and right to deduction by holding companies concerning costs related to subsidiary acquisitions (such as due diligence and valuation)

25.8.2015
This issue of Tax News is dedicated to more easily digestible topics. We outline the courts’ views on the entitlement of VAT payers to interest on retained VAT deduction (a judgment of the Supreme Administrative Court, “SAC”) and the frequently discussed right of holding companies to deduct VAT (a judgment of the Court of Justice of the EU, “CJEU”).
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Holiday and unequal distribution of weekly working hours

19.8.2015
The summer holiday period is now in full swing, which means that most employees have taken or will take a holiday. Most of the requirements for annual leave are set out in the Labour Code, so no discrepancies should occur. This issue of our newsletter outlines problem that may arise when taking leave where weekly […]
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VAT on real estate – light at the end of the tunnel

10.8.2015
After much delay, the General Financial Directorate (“GFD”) has finally published its long-awaited information on the application of the VAT Act to real estate after 1 January 2015 (“Information”). Given its unsystematic (hopefully temporarily) regulation, this area of VAT has been full of ambiguities and contradictory interpretations. Therefore the GFD’s representatives promised to issue explanatory […]
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Online registration by notaries

21.7.2015
The Act on Public Registers of Legal Persons and Individuals, effective since 1 January 2014, now makes it possible for notaries to enter data in public registers. However, in practice, they have been permitted to make such records only since May.
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Due diligence and its use

22.6.2015
One of our recent newsletters briefly discussed due diligence. As it only provided basic facts, let’s have a closer look at what due diligence can be used for.
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New developments in VAT – General Financial Directorate’s notification regarding the new control report introduced with effect from 2016

15.6.2015
The General Financial Directorate (“GFD”) published information about the VAT control report that is to be filed by taxpayers with the tax authority from January 2016. The information defines persons that must file the report, the mandatory form of the report, information that must be provided to the tax authority in the report and the […]
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12 best businesses in Europe named out of 24,000

8.6.2015
Europe’s 12 best businesses are celebrating after being named winners in the 2014/15 European Business Awards, sponsored by RSM, at an exclusive awards ceremony in London was attended by leading business leaders, politicians, ambassadors and academics from across Europe. The winning businesses have achieved their success after 16 months in the largest, and one of […]
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Employee benefits – an increasing trend in employee motivation?

8.6.2015
Today, besides salaries and various performance bonuses, employers provide a wide range of employee benefits. These are usually beneficial for both parties.
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