GFD ISSUES INSTRUCTION IMPOSING RULES FOR EXEMPTING TAX INTEREST AND CHARGES
In attempting to unify decisions on requests for an exemption from tax interest and charges (a new opportunity for taxpayers), the GFD issued Instruction D-21 in order to specify the grounds on which an exemption can be granted in such cases. As of 1 January 2015, taxpayers can apply to the tax authority to have penalty and late payment interest exempted. However, the penalty cannot be waived if it was notified by means of a tax assessment as of 1 January 2015. The same applies to late payment interest, which can be waived only if it accrues as of 1 January 2015.
Other articles
KŠB Assisted with the Refinancing of the BigBoard Group, a leading player in the premium outdoor advertising market
Our team provided legal advice to BigBoard Praha, a leading player in the premium outdoor advertising market in the Czech Republic, in connection with its refinancing. Founded in 1993, the BigBoard Group is the largest provider of premium outdoor advertising in the Czech Republic, with an approximately 70% market share and annual turnover of around CZK 2 billion. Its advertising media cover key locations across the country, including the Prague metro and major transport hubs.
KŠB Assisted Sandberg Capital with a Majority Investment in HotelTime Solutions
The KŠB team provided legal advice to the investment group Sandberg Capital on the completion of a majority investment in HotelTime Solutions, one of the leading providers of cloud-based software for hotel operations management.
KŠB assisted Seyfor with the extension of its financing provided by Raiffeisenbank, Tatra banka and, newly, Slovenská sporiteľňa.
The KŠB team provided legal advice to its long-standing client Seyfor in connection with the continuation and expansion of its syndicated financing. The existing lending banks, Raiffeisenbank Czech Republic and Tatra banka, decided to continue supporting Seyfor’s growth, with Slovenská sporiteľňa joining the financing as a new lender.
