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In the Czech Republic, a country with a continental legal system, court decisions do not set precedents as they do in common law jurisdictions. Nevertheless, court decisions in tax proceedings may not be ignored, as to a considerable extent they modify the interpretation of legislation. Without knowledge of court decisions one may not succeed in tax proceedings. Recently, two substantial decisions of the Czech Constitutional Court concerning tax reviews have been published.
- PETERKA & PARTNERS v.o.s
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Recently some changes to Ukrainian law have been introduced which have repealed the need to notarise land lease agreements and bring greater transparency in land certification and land allotment procedures. This article briefly describes these changes.
- PETERKA & PARTNERS v.o.s
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Comments on legal basis and main features. The recent financial crisis has shown many of the weaknesses in the current regulatory framework of the financial market - a lack of or insufficiencies in the legal rules on the one hand and a lack of or insufficiencies in the competency and expertise of financial market supervisors and regulators on the other.
- Brzobohaty Broz & Honsa, v.o.s.
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A number of law changes requested over last few years regarding the regime of funds of qualified investors were finally enacted and became effective. These changes may give a positive stimulus to further development of the fund industry in the Czech Republic.
- Ambruz & Dark
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The term “Due Diligence” is commonly used when referring to a process through which a potential buyer evaluates a target company, an enterprise or its assets. Typical due diligence usually focuses in particular on the area of law, taxes and finance with the aim on emphasizing strengths and weaknesses of the target and detecting risks connected with its acquisition. For the sake of simplification, we will use the term “enterprise” or “target” when talking about subject matter of the due diligence.
- Weinhold Legal v.o.s
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On 3 July 2009, President of the Czech Republic signed an amendment to Act No. 586/1992 Sb., on income taxes, as amended (hereinafter referred to as the “ITA”), drawn up by the Ministry of Finance. This amendment has been published in the Collection of Laws under No. 216/2009 Sb. and became effective on 20 July 2009. The law amends the Income Tax Act in the following areas (without limitation): Depreciation of tangible assets , Financial lease-purchase agreements , Education of employees
- Alfery & Partner
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Against the backdrop of the worsening economic conditions, company management are often faced with the decision whether certain business activities should be terminated or if different measures should be taken with respect to cost reduction. In this article, we will examine various measures that can be taken within a given context. At the same time focus will be placed upon the circumstances in respect of individual cases. Concurrently, it is nevertheless always advisable to carry out a detailed and extensive analysis of the economic, tax and legal aspects in regard to the circumstances surrounding the given case.
- Weinhold Legal v.o.s
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Public procurement is a significant part of the Czech economy and constitutes more than 17% of its GDP. Public procurement is regulated by Act No. 137/2006 Coll., on Public Contracts and Act No. 139/2006 Coll., on Concession Contracts and Concession Procedure (Concession Act).
- Wolf Theiss
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The economic downturn has made layoffs and bankruptcies commonplace as of late, and companies of all sizes and reputations have been humbled by the turmoil.
- Ambruz & Dark
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The main corporate entity to be discussed is a joint-stock company (a company limited by shares, the “Company”). The Company issues shares and such shares that are recognised must be in documentary or book-entered (registered in Security Centre) forms are. Subject to the approval and fulfilment of the statutory conditions, the shares may be submitted for trade on the publicly (regulated) markets. The minimum amount of registered capital is equal to CZK 2,000,000.
- Weinhold Legal v.o.s