26.4.2012
News

Directive on annual financial statements of micro-entities

A Directive amending the 4th Directive on annual financial statements of certain forms of companies has been published in the Official Bulletin of the European Union. The Directive allows member countries to introduce legislation that inter alia allows member countries to determine more benevolent rules for the financial statements of “micro-entities”. These entities would be permitted either to compile abbreviated versions of the balance sheet and profit and loss account or, under certain circumstances, to refrain from publishing financial statements all together. A micro-entity is a company that does not exceed certain limits set forth by the Directive (total assets of EUR 350,000/CZK 8.75 mil., net turnover of EUR 700,000/CZK17.5 mil. and average number of full-time equivalent employees: 10).

The Directive took force on the twentieth day following the announcement in the Official Bulletin of the European Union, i.e. on 10 April 2012. The question of implementing this Directive into the Czech legal system has not yet been resolved.

Other articles

20.5.2025
News

With deep sorrow, we announce the passing of JUDr. Alexandr Kocián, one of the founders of our firm.

e was not only an icon of the legal profession in Karlovy Vary and a respected lawyer, but also an inspiring colleague, a mentor to an entire generation of our attorneys, and, last but not least, a man with a sense of humor who always spread good cheer.
19.5.2025
News

Warning About Fraudulent Emails!

We have detected that fraudulent emails titled "Copyright Infringement Notice" are being sent from various @gmail.com addresses, with the sender falsely claiming to represent KŠB.
14.5.2025
M&A

A Landmark Transaction in Czech IT History: Seyfor Acquires 100% of Dotykačka

The KŠB team, led by Ján Béreš and Drahomír Tomašuk, was pleased to provide legal advice to our long-standing client, Seyfor, in its acquisition of full control over Dotykačka ČR, the leader of the Czech point-of-sale systems market.