Legal news
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news
Reporting tax-exempt income of natural persons
Czech Republic: Taxpayers of personal income tax are faced with a new reporting duty towards the authorities A natural person who attains income during a given tax assessment period which is exempt from personal income tax and exceeds CZK 5 000 000, must notify the tax administration hereof by the
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A step forward in the fight against shell corporations in public procurement
News in the public procurement law - Register of final beneficiaries of subjects. An amendment to the public procurement law (the Law), effective as of 01 November 2015, abolishes Section 26a of the Law on public procurement, i. e. the obligation to establish an assets and liabilities structure, and replaces it with
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Product inventory and its valuation in 2016
Czech Republic: An amendment to the Accounting Act provides new rules for the valuation of product inventory The major amendment to the Accounting Act which implements Directive 2013/34/EU into Czech law among other things touches upon the valuation of production inventories. Under the previous regime, companies had a choice: either
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Relations between Belarus and investors are newly regulated
Belarus: Significant changes concerning investor activity in Belarus are introduced by Presidential Decree no 8 of 13 November 2015. The new regulation affects projects carried out on the basis of an investment contract with the Republic of Belarus. In the future, these contracts will be concluded only when an investment
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New Civil Procedure Code on the horizon
Hungary: A modern and efficient Civil Procedure Code is in progress to ensure rapid conclusion of civil procedures Significance of the current Civil Procedure Code expressed in figures More than 200 000 civil procedures are initiated in Hungary every year. If we take into account pending procedures and cases at