Starting with May 2018, a new regulation on data protection will come into force and replace the current Data Protection Directive (95/46/EC). One change that comes with the new regulation is the requirement for data protection by design and by default. This can help reduce the risks identified in each stage of the development of […]
A new issue of Schaffer News has just been released and it, as usually, contains a lot of interesting and up-to-date information about the latest developments in the world of tax and law and short news about our Office’s activities. When compiling our articles we always strive to address questions you most commonly ask and/or […]
Today, we would like to introduce our partner legal advisory office, ShawnCoulson International Lawyers, seated in Washington, USA, with branches in London and Brussels. It is also thanks to this strategical distribution of the branches that their lawyers are capable of solving/assisting to complex business transactions within various legal systems. They also specialise in business […]
You probably hit the ground running when expanding overseas, rather than worry about the small stuff; and focus on delivering to your customers. So, how should you handle company incorporation, HR, payroll, accountancy and tax obligations? It would be wonderful if there was a “one size fits all” approach when you expand overseas but unfortunately, […]
On 9 June, 2016, the European Parliament issued a regulation which considerably decreases the bureaucracy connected with submission of documents issued by another EU member state to authorities and/or courts. An EU citizen planning to work or setting up or doing business in another EU country are typical examples of processes burdened with bureaucratic red […]
According to the current Czech law, the insolvency administrator assumes a specific status in the process of the insolvency proceedings, which, inter alia, affects the understanding of his role in delivery of documents. The Insolvency Act states that the administrator that assumes the status of a process-server if they deliver the documents in person. However […]
Last year, the Financial Administration intensified their efforts to tax evasion based on sharp practices connected with transfer prices; the FA officials inspected approximately 800 tax subjects, which meant an increase by almost 40% in comparison with 2014, and additionally assessed taxes totalling CZK 450m. As can be surmised, further actions following this pattern may […]
Although proposed amendments to several laws connected with the implementation of the new Customs Code are still awaiting their approval by the Parliament, they are expected to become effective as of 1 May, 2016, and to have a considerable impact on the VAT Act. One of the changes concerns introduction of extension of the validity […]
On 2 February 2016, an agreement was approved on the new legal framework for personal data transfers across the Atlantic. This agreement follows the Safe Harbour framework, a failed project that allowed a simplified system of personal data transfers from the EU to the US and that was, due to lack of privacy on the […]
With the upcoming deadline for submitting tax returns employees often also ask if it is possible for them to also deduct gifts that they have provided during the past year. Employees have the same opportunities as entrepreneurs in this regard. Employers deduct gifts provided by their employees in the annual tax settlement. An employee must […]
On 10 February 2016 the government approved what is probably the most controversial law in recent years: Electronic records of sales. Out of a total of 145 MPs present 105 voted in favour of the new law. The introduction of compulsory records will be gradual. Firstly it will apply to restaurant and hotels, then […]
International Referral, the world’s largest exclusive network of advisory firms is delighted to introduce Lars Klett of Ueltzhöffer Klett Jakubec & Partneři, advokátní kancelář. Lars has joined IR as our exclusive Real Estate Member the Czech Republic. Lars Klett is admitted to the bar in Germany and in the Czech Republic. He joined his current […]