Amendment to Trade Licensing Act
Parliament has now approved the governmental proposal for the amendment to the Trade Licensing Act.
The amendment limits the number of trades which require a licence, or where the traders have to meet special requirements, such as specific education and five years practice in the relevant sphere of trading (e.g. in case of providing economic consultancy). The amendment eliminates the excessive regulation in this area and is intended to support free competition.
Act on Collective Administration of Copyright and Related Rights
A new act concerning copyright and related rights will come into effect as of January 1, 1996. This Act governs situations where a specialized, so called protective organization (a legal entity) represents persons holding copyright or related rights, in execution of their other connected rights. Such rights include negotiation of contracts for use of author's works and negotiation of royalties.
Governmental Decree on the Terms for Financial Subsidies of Mortgage Loans
A new governmental decree will come into force as of the day of its publication. Subsidies relating to mortgage loans for house building may be granted to individuals either for personal use or for undertaking business in the house-building industry, as well as to legal entities. It is always necessary to meet the relevant conditions and to lodge an application. Subsidies to legal entities may be granted only in the case if, at the end of the year, there are still undistributed funds that have not been utilized by individuals.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and legal advisory services:
Paul Antrobus/Jan Kaucky
Audit and accounting advisory services:
Magdalena Soueek/Ladislav Langr
Business advisory services:
John Weste
Arthur Andersen Prague, tel: +42 2 2440 1300, or enter text search 'Arthur Andersen' and 'Business Monitor'.
Parliament has now approved the governmental proposal for the amendment to the Trade Licensing Act.
The amendment limits the number of trades which require a licence, or where the traders have to meet special requirements, such as specific education and five years practice in the relevant sphere of trading (e.g. in case of providing economic consultancy). The amendment eliminates the excessive regulation in this area and is intended to support free competition.
Act on Collective Administration of Copyright and Related Rights
A new act concerning copyright and related rights will come into effect as of January 1, 1996. This Act governs situations where a specialized, so called protective organization (a legal entity) represents persons holding copyright or related rights, in execution of their other connected rights. Such rights include negotiation of contracts for use of author's works and negotiation of royalties.
Governmental Decree on the Terms for Financial Subsidies of Mortgage Loans
A new governmental decree will come into force as of the day of its publication. Subsidies relating to mortgage loans for house building may be granted to individuals either for personal use or for undertaking business in the house-building industry, as well as to legal entities. It is always necessary to meet the relevant conditions and to lodge an application. Subsidies to legal entities may be granted only in the case if, at the end of the year, there are still undistributed funds that have not been utilized by individuals.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and legal advisory services:
Paul Antrobus/Jan Kaucky
Audit and accounting advisory services:
Magdalena Soueek/Ladislav Langr
Business advisory services:
John Weste
Arthur Andersen Prague, tel: +42 2 2440 1300, or enter text search 'Arthur Andersen' and 'Business Monitor'.
