FATCA
In response to the US’s Foreign Account Tax Compliance Act (FATCA) and the associated international treaty entered into between the Czech Republic and the United States, the Czech FATCA (Act No. 330/2014 Coll., on exchange of information on foreign accounts with the United States of America for tax administration purposes) was published (took effect) on 29 December 2014.
The information exchange includes the collection and relay of information on US tax residents’ accounts from Czech tax authorities to US tax and other contact authorities and vice versa, i.e. exchange of information on Czech tax residents’ accounts from US tax authorities to Czech authorities. The Czech FATCA imposes duties related to payments to non-participating financial institutions and regulates fines for failures to discharge non-cash duties owed to Czech financial institutions. The Czech FATCA took effect on 13 January 2015.
Other articles
KŠB "Scores" Major Infrastructure Win: The New Ball Sports Centre in České Budějovice
KŠB has advised on the execution of a construction contract for the Ball Sports Centre in České Budějovice, a major public infrastructure project set to become a new landmark for sport and community life in the region.
Suburbanization Trends and Sustainable Commuting: Will the Construction Act Amendment Change the Landscape?
The discussion surrounding the current proposal to amend the Construction Act (Parliamentary Print 67) has moved to the committee stage in the Chamber of Deputies following its first reading. The primary declared objective is the acceleration of construction, particularly regarding residential buildings. The shortage of affordable housing remains a pressing issue in major cities, both in the Czech Republic and abroad, giving rise to the pervasive trend of suburbanization. This raises the question: does the proposed amendment truly have the ambition to reverse this trend, and will an increase in housing construction alone suffice?
Success for KŠB’s Litigation Team
KŠB’s litigation team, led by Pavel Dejl and Hana Dejlová, has achieved a significant victory for a long-standing client in a dispute with the Czech Ministry of Justice concerning excessively lengthy court proceedings.
