Discount Applied for Determination of Tax Advances
Pursuant to authorization by the Income Tax Act, the Czech Ministry of Finance adopted a measure to eliminate hardship. In the event of tax non-residents (foreign employees), this measure regulates the method of collecting advances for income tax from employment income, where a basic discount is provided in the course of the year. Advances shall now be determined under the same conditions and in the same manner as for Czech tax residents. The tax duty of foreign employees for the entire year of the 2008 taxation period shall now be settled pursuant to valid provisions of the Income Tax Act. The measure may be applied from the moment of publication thereof, i.e. from 7 February 2008.
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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.
