Amendment to the Act on Accounting
The amendment newly and expressly stipulates that the accounting unit shall use the most recently known USD or EURO exchange rate announced by the CNB or, for foreign currency exchange rates that have not been announced, the exchange rate of the interbank market for conversion of a foreign currency. These provisions shall be applied as of 1 January 2009.
In addition, the amendment sets forth the valuation of cultural monuments or collections of a museum character, the price of which is not known by the so-called the “fictitious price” in the amount of CZK 1.
The method of valuation of conditioned assets and liabilities posted to off-balance sheet accounts (such as court disputes) is newly and explicitly added to the act.
Other provisions of the amendment are of a legislative and technical nature and specify, inter alia, the types of accounting records, the transfer of an accounting record from one form to another form and the use of electronic signature.
The amendment specifies the provisions of the Act on Accounting concerning Czech Accounting Standards to the effect that selected accounting units (in principle state organizations) must always comply with these standards whereas other accounting units may deviate from them in justified cases.
Rules for procuring accounting records for the needs of the state were also added to the Act on Accounting.
Other articles
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.
Evidence skutečných majitelů: Co přinese znepřístupnění od 17. prosince 2025?
Letošní rozhodnutí Nejvyššího soudu a Nejvyššího správního soudu navázala na rozsudky Soudního dvora Evropské unie, a, s platností i pro Českou republiku, konstatovala, že zveřejňování údajů v rámci evidence skutečných majitelů představuje nepřiměřený zásah do základních práv majitelů na soukromí a ochranu osobních údajů. Důležitým aspektem těchto rozhodnutí byl závěr, že sankce, které postihují povinné subjekty jako reakce na nesplnění jejich povinnosti zápisu do evidence skutečných majitelů, není možné vymáhat, dokud je evidence veřejná. Tato situace se změní 17. prosince 2025, kdy ministerstvo znepřístupní evidenci skutečných majitelů; povinným subjektům tak budou opět hrozit závažné sankce.
