29.3.2012
News

Amendment to the Concise Duty Act

Two amendments to the Concise Duty Act are currently undergoing the legislative process.

The first amendment suggests reducing the concise duty on fuels by CZK 2.50 on one litre of diesel fuel and CZK 1.50 on one litre of petrol. The suggested change seeks to reduce the retail fuel price for consumers. The amendment is due to be debated by the government.

The second amendment shall, among other things, cancel an exemption for mineral oils applied and used in mineralogical or metallurgical processes. The exemption is to be replaced with a tax reimbursement mechanism. Further, the amendment is to (i) introduce a disclosure duty where liquor is sold for a price lower that the sum of the concise duty and VAT, (ii) provide for a reduction of the payment for the value of tobacco stamps or for securing the value thereof upon purchase, and (iii) increase the concise duty to be levied on cigarettes and other tobacco products. The amendment is suggested to take force and effect as of 1 January 2013. This does not apply to the cigarettes and other tobacco products where 1 January 2014 is the suggested effective date. The amendment will soon be delivered to the Chamber of Deputies for discussion.

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KŠB advised the seller on the sale of mcePharma to the Brenntag Group

The KŠB team, consisting of Vlastimil Pihera, Jakub Porod, and Dominika Bazalová, provided legal advice to the seller, Mr. Ivan Mikeš, in connection with the sale of 100% of the shares in mcePharma to the international Brenntag Group, a global leader in the distribution of chemicals and ingredients.