Zprávy

31.7.2009

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Requirements for remuneration policy in financial services sector

On 29 April 2009 the European Commission issued the Recommendation on remuneration policy in the financial services sector (Official Journal L 120/2009). Uniform principles apply to all companies operating in this sector and should be applied primarily to employees whose job description has a substantial impact on the risk profile of the company. The remuneration policy will also be subject to the supervisor’s assessment. The Recommendation is not legally binding but the Commission envisages the adoption of regulations that will reflect the main requirements of the remuneration policy. Member States should take the necessary measures to implement the Recommendation by the end of this year.

31.7.2009

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EU regulates hedge funds and other alternative funds

European Commission, after long-term reluctance to intervene in this sector of financial markets, finally presented a proposal for a Directive on managers of alternative investment funds at the end of April. The draft applies to all funds not covered by Directive 85/611 (the so-called UCITS Directive) and encompasses hedge funds, so-called private equity funds, commodities and real estate funds and special funds for professional investors.

31.7.2009

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The liberalization of energy markets approved

At the end of April the European Parliament passed in the second reading the energy package dealing with the further functioning of the single EU energy market, mainly the strengthening of its competitiveness and security. In the hitherto most controversial issue of fission energy companies, the members of Parliament receded from the original strict requirement of full ownership unbundling of production capacity from the transmission networks owned. The approved compromise also brings a strengthening of consumers’ rights.

31.7.2009

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Remuneration of directors of listed companies

The European Commission has also completed in a form of a Recommendation the existing system of remuneration of directors of listed companies (Official Journal L 120/2009). The Commission asserts basic principles that are the same as the remuneration in the financial sectors: focus on long-term sustainability instead of short-term results, elimination of excessive payment incommensurate with performance, simplifying the pay structure and its transparency. Other requirements relate to the principles of payment of the so-called "golden parachutes" and bonuses in the form of shares or share options.

31.7.2009

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Amendment to regulatory framework (Solvency II) approved

European authorities have agreed on the compromise text of a Directive on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). Its main objective is to strengthen the stability of the insurance sector, to deepen its integration and competitiveness. The current 13 Directives relating to insurance and reinsurance have been recast into a single act. New and more elaborate rules of capital adequacy should better reflect the risks that insurance and reinsurance carry and ensure their sufficient coverage.

15.7.2009

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Change in the Field of State Aid

On 27 April 2009, an amendment to Act No. 215/2004, Coll., on Regulation of Certain Relationships within the Area of State Aid and certain other regulations was published under No. 109/2009, Coll.  New term “state aid coordination body” has been introduced which, in addition to the existing Antimonopoly Office, is the Ministry of Agriculture, since the powers of the act was extended to cover state aid in the fields of agriculture and fishing.

15.7.2009

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Amendment to State Aid to Cover Interests from Loans for Repairs and Modernization of Houses

On 27 April  2009, an amendment to Governmental Regulation No. 299/2001, Coll., on Using Funds from the State Fund of Dwelling Development for covering a Part of Interests from Loans Provided by Banks to Legal Entities and Individuals for Repairs, Modernization or Regeneration of Panel Houses,  was adopted. The regulation took effect on 1 May 2009.

15.7.2009

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New conception of Support for Research and Development

Under Act No. 110/2009, Coll., the area of Support Research and Development from Public Funds has been amended. The new regulation represents a fundamental and conceptual change and constitutes a part of the reform of the system of research, development and innovations approved by the government with the aim to strengthen the effectivity of using state funds in this field. The subject of regulation by the act was extended by innovations. Provision of aid should be generally simplified; the number of providers was limited, so that the aid will not include all resorts. It is also assumed that access to drawing on funds from structural funds and EU framework programs will be easier.

8.7.2009

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Kocián Šolc Balaštík expands its team

Kocián Šolc Balaštík has expanded its legal team by three new advocates: Mgr. Miloslav Petrů, LL.M., Ing. Mgr. Ivo Šimeček, M.E.S. and Mgr. Jan Hrubec. With nearly seventy lawyers and tax advisors in offices in Prague, Karlovy Vary and Ostrava, KSB is ranked one of the largest law firms in the Czech Republic.

1.7.2009

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Regional Court in Hradec Králové issues first European order for payment on 10 June 2009 upon application by KSB

Regulation (EC) No 1896/2006 of the European Parliament and of the Council of 12 December 2006 creating a European order for payment procedure took force and effect on 12 December 2008. The Regulation is directly applicable in all Member States with the exception of Denmark and helps creditors swiftly and efficiently recover their outstanding debts in civil and commercial matters having cross-borders implications through a uniform procedure using standard forms.

30.6.2009

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Co přinášejí datové schránky

24.6.2009

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KSB assists unit trust in takeover of assets of joint stock company, the first transaction of this kind in Czech Republic

Law firm Kocián Šolc Balaštík provided legal consultancy to Closed Unit Trust Fortius 1, managed by the investment company Fortius Global Investments, in the takeover of assets of the joint-stock company TERION CZ a.s.

28.4.2009

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2009 Legislation News

Amendment to the VAT Act and the Income Tax Act; Amendment to Decree No. 500/2002 Coll., implementing certain provisions of the Accounting Act; Collection of Acts

27.4.2009

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Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act

27.4.2009

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From Judicature - the Supreme Administrative Court comments on the term “in connection with business operations” used throughout tax legislation

In judgment No. 2 Afs 112/2008-44 dated 24 February 2009, the Supreme Administrative Court commented on the term “in connection with business operations”. The need for an explanation of the term is the result of a dispute between a taxpayer and the tax authority over a father’s donation of assets to his son, the father and son both having originally been engaged in the same business.

9.4.2009

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Severe penalties on employers of illegal immigrants

The European Parliament adopted at its February session the Directive providing for sanctions against employers of illegally staying third-country nationals. Criminal penalties may be applied to deny this form of grey economy. Where the employer is a subcontractor the penalties may be imposed on its business partner as well. The Directive also aims at providing illegal workers with legal payroll. 

9.4.2009

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Certain services subject to reduced VAT rate

The EU Finance Ministers under the Czech Presidency finally agreed on 10 March 2009 to reduce the value added tax rate for certain services. The draft amendment to Directive No. 2006/112 primarily covers areas where the current exemptions only made it possible to apply VAT lower than 15% by the end of 2010, which could result in considerable price increase for these services after 2010. The initiative constitutes a part of the European Small Business Support Program (Small Business Act).

9.4.2009

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Freedom of Establishment; Cross-Border Transfer of a Company Seat

Judgment by the ECJ of 16 December 2008 in the case C-210/06 Cartesio Oktató és Szolgáltató Bt The European Court of Justice dealt with yet another case of a transfer of a company seat to another EU Member State. Cartesio, a limited partnership incorporated under Hungarian law with its company seat in Hungary, filed a petition with the registration court to transfer its seat to Italy. The registration court dismissed the petition due to the fact that Hungarian law does not make it possible for a company incorporated in Hungary to transfer its seat to a foreign country and, at the same time, be subject to Hungarian law as its personal statute.

9.4.2009

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Liberalization of energy markets proceeds to second reading

One of the first sessions held by the Czech presidency was the session of the Transport, Telecommunications and Energy Council during which the joint position to the energy liberalization package was approved. As expected, the Council did not endorse most of the draft amendments by the European Parliament which were adopted in the first reading held last year. Unbundling or separation of electricity generation from transmission systems continues to be one of the most controversial issues, having impact on all gas producers and electricity generators in the EU. 

9.4.2009

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Directive concerning the general arrangements for products subject to excise duty

The EU authorities passed Directive 2008/118/EC concerning the general arrangements for products subject to excise duty, which repeals Directive No. 92/12/EEC. The new legislation shall substantially aid in the efficient exchange of information between national tax authorities, introduce an electronic system for the monitoring of movement of consumer goods within the EU and define the legal framework for the functioning thereof. It also refines the definition of the objects subject to excise duty and the rules applicable to the payment thereof for the international shipping of goods. It has been designed to improve, and render more efficient, the fight against tax evasion.

9.4.2009

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Commission’s priorities for assessing abuse of dominant position

The European Commission has issued instructions for enforcement priorities in application of Article 82 of the EC Treaty against abusive exclusionary conduct by dominant undertakings, which discriminate against other competitors on the market (Official Bulletin C 45 dated 24 February 2009). The document should assist companies in anticipating whether the Commission will intervene with regard to their  particular conduct. 

9.4.2009

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SPE – a uniform company throughout the EU

The negotiations on the legal framework of a European Private Company (Societas Privata Europaea) progressed significantly during March. The European Parliament discussed and approved (subject to several amendments) the proposal on the statute for a European private company. 

9.4.2009

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Regulation on credit rating agencies

The European Commission presented a proposal at the end of last year as part of a package of proposals addressing the financial crisis. It was instigated by current insufficient control over the quality of work of rating agencies that many people believe fairly contributed to the current financial crisis. Credit rating has been subject to legislation primarily applicable to other aspects of financial markets (Directive No. 2003/6 on insider dealing and market manipulation and Directive No. 2006/49 on the capital adequacy of investment firms and credit institutions). 

9.4.2009

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Proposal for Directive on Industrial Emissions (Integrated Pollution Prevention and Control)

The European Parliament approved in its March session the proposal for a directive on industrial emissions on first reading. The proposal suggests consolidating the current seven industrial-emission laws into a single act – directive on integrated pollution prevention and restriction (IPPR) and six industry laws – the so-called VOC, LCP, titanium dioxide and waste burning directives. The reasons for this change are not to merely eliminate difficulties and discrepancies in the current legal framework, but respond to the ever-increasing emission levels which pollute water, soil and air, in attempt to create a more efficient pan-European framework and standards for an integrated approach to prevention. 

8.4.2009

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Agrofert’s take over of Agropol permitted

Kocián Šolc Balaštík successfully represented Agrofert Holding, a.s. in proceedings before the Anti-Monopoly Authority regarding Agrofert’s merger with Agropol. The Anti-Monopoly Authority permitted the merger subject to predefined conditions.

1.4.2009

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KSB Opens Branch Office in Ostrava

Law firm Kocián Šolc Balaštík, named several times by international rating agencies as a leading Czech law firm, opened a new branch office in Ostrava on 1 March 2009. The opening of KSB’s Ostrava branch office is an expression of KSB’s focus on satisfying the needs of its large corporate clients from the Moravia region.

24.3.2009

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Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act

24.3.2009

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Notification of the Finance Ministry

Notification of the Finance Ministry dated 2 December 2008 on classification of tangible assets into depreciation groups; Decree sets foreign meal allowances for 2009; Information on application of the provisions of Section 36, subsection 11 of the VAT Act

24.3.2009

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New developments in legal regulations from 2009

Changes in payment of social security contributions from 1 January 2009; Maximum assessment base for 2009; Sickness Insurance Act

24.3.2009

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From Judicature - Award by the Constitutional Court dated 1 December 2008 (I. ÚS 705/06)

Pursuant to the Award by the Constitutional Court dated 1 December 2008 (I. ÚS 705/06), the facts ascertained by tax authorities (carrying out procedural acts) in the course of a tax inspection that serve the decision-making of tax administrators but subsequently found to be illegal by the Financial Directorate, cannot be reapplied by the tax administrator.

6.3.2009

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MAGNA Group takes over auto plastic parts manufacturer Cadence Innovation

Law firm Kocián Šolc Balaštík has been providing legal consultancy to its long-term client, the globally operating Canadian company MAGNA, in its acquisition of Cadence Innovation, s.r.o. The company belongs to the largest world-wide manufacturers of car parts and is established in the Czech Republic.

24.2.2009

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Novelties in Commercial Law. Plus, No. 1/2009

Professor Jan Dědič, a partner of law firm Kocián Šolc Balaštík, wrote an article on changes expected in 2009 concerning legal regulations in commercial law in the Czech-German Commercial and Industrial Chamber's magazine Plus, which was published in February.

18.2.2009

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Notification of the Finance Ministry

18.2.2009

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New developments in legal regulations from 2009

Changes in payment of social security contributions from 1 January 2009; Maximum assessment base for 2009; Sickness Insurance Act

18.2.2009

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From Judicature - The Constitutional Court Has Issued a Further Interesting Award

The break-through resolution of the Constitutional court concerning the deadline for additional tax assessment of which we informed in the past Tax News was preceding by another interesting resolution from the end of November 2008 in which the Constitutional court provided its comments on the contents and objective of tax inspection.

18.2.2009

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International relations

Communication of the Ministry of Foreign Affairs on termination of the Agreement between the Czech Republic and the Union of Soviet Socialistic Republics on Social Security and the Protocol to the Agreement in relation to the Russian Federation

18.2.2009

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Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act

13.2.2009

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KSB Assists OKD, a.s. in Spin-Off of Energy-Related Assets

Kocián Šolc Balaštík advised OKD, a.s. in connection with the spin-off of OKD’s CZK 2.8 billion worth of energy-related assets to its sister company NWR Energy, a.s.

20.1.2009

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Nový trestní zákoník čeká již jen na podpis prezidenta

20.1.2009

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Changes in Cadastral Register

In the end of the past year, an amendment to the Cadastral Register Act was passed. In addition to legislative and technical adjustments, the amendment also contains significant factual changes. In general, data registered in the Cadastral Register will be more easily accessible, since in view of the advanced digitalization, any Cadastral Office may provide extracts, extracts from cadastral maps and any other data regardless of where the real estate is situated or under what Cadastral Office its cadastral area belongs. Simultaneously, together with the protection of important personal data that is usually contained in the Cadastral Register’s information system (such as information on financial circumstances, in particular information on acquisition of assets, purchase prices, etc.), the provision of certain data will be subject to certain regulation.

20.1.2009

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Increased performance under insurance of deposits

The amendment to the Banking Act increases the maximum compensation provided under insurance of deposits to the amount equaling the equivalent of EUR 50,000. The new amendment took effect on 15 December 2008.

20.1.2009

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New regulation for documenting certain facts entered in Commercial Register

Following the new regulation concerning mergers and other transformations effective 1 July 2008, an amendment was passed to Decree 250/2005, Coll. on Binding Forms for Filing Applications for Entry into Commercial Register. The major change is a new detailed regulation of mandatory annexes documenting facts entered into the Commercial Register in case of transformations of commercial companies, cooperatives and European cooperatives.

15.1.2009

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KSB advises MICHEL THIERRY during restructuring in the Czech Republic

Law firm Kocián Šolc Balaštík provided legal advice to the MICHEL THIERRY GROUP SA during the merger and transfer of assets of its subsidiaries.

14.1.2009

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New Attorneys at KSB - Radka Felgrová and Martin Škrabal

Law firm Kocián Šolc Balaštík, recognized as the Czech Republic's leading law firm in corporate law by the November survey of ePravo.cz, expanded its team of attorneys by two new members, Radka Felgrová and Martin Škrabal.

30.12.2008

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KSB represented OKD, a.s. on the sale of its subsidiary OKD, BASTRO, a.s.

Law firm Kocián Šolc Balaštík assisted OKD, a.s., the biggest Czech producer of black coal, on the sale of its subsidiary, OKD, BASTRO, a.s. The transaction was another step towards the realisation of OKD’s long-term plan to focus on its core business of coal extraction.

29.12.2008

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Notification of the Finance Ministry

29.12.2008

•

New developments in legal regulations from 2009

Changes in payment of social security contributions from 1 January 2009; Maximum assessment base for 2009; Sickness Insurance Act

29.12.2008

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From Judicature - The Constitutional Court issued a breakthrough resolution concerning the interpretation of periods set for tax assessment

Pursuant to the award of the Constitutional Court dated 2 December 2008, the three-year period in which a tax or an additional tax can be assessed does not commence at the end of the taxation period in which the tax return is to be filed but already from the end of the taxation period provided it is evident at the moment the obligation to file a tax return arises.

29.12.2008

•

Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act

29.12.2008

•

International Tax Relations

For the taxation period commencing 1 January 2008,  a newly concluded double-tax treaty between the Czech Republic and the Hashemite Kingdom of Jordan, which also prevents tax evasion in the area of income taxes, became effective.

18.12.2008

•

Agreement on changes to the regulation of telecommunications

The meeting of the Council of EU Telecoms Ministers in Brussels on 27 November 2008 brought significant changes toward creation of a “Single EU Telecoms Market”. Telecommunications ministers from 27 EU member states arrived at a preliminary agreement to review the regulatory framework for electronic communication networks and services.

18.12.2008

•

Reduction of administrative burden of companies by way of limiting publication of mandatory data

The European Parliament considered a draft directive on 19 November 2008 that amends existing obligations of companies with regard to mandatory publication of certain data (Draft Directive of the European Parliament and Council amending Directives of the Council Nos. 68/151/EHS and 89/666/EHS as concerns obligations of certain forms of companies in the field of publication and translations).

18.12.2008

•

Uniform rules for airport charges

A new legal regulation is in progress that will affect the system of collecting airport charges. Its aim is to prevent individual airports from abusing a dominant position. Non-transparent or overestimated airport charges should be removed through the consultation mechanism between airports and their users, together with the rules for resolution of mutual disputes.

18.12.2008

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Modernization of the legal framework of aviation transport

The target of the most recent legislation efforts by the European Commission is to ensure a more effective functioning of the internal aviation market, to increase the safety of aviation services and to improve protection of passengers that include, inter alia, the terms of fares and rates. In addition to simplification of existing regulations, it was necessary to resolve the needs of the efficient and uniform application of such regulations, which is a prerequisite for creation of equal conditions for all aviation companies in the EU.

18.12.2008

•

Assessment of legal regulation on merger control

The European Commission commenced a public consultation concerning the functioning of Regulation No. 139/2004 on the control of concentrations between undertakings. The purpose thereof is to assess application rules after four years of existing practical application, i.e. setting of the threshold value and criteria as well as mechanisms of transfer of powers concerning assessment of the connection between the Commission and national antimonopoly authorities.

18.12.2008

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Reduction of prices of roaming data services and SMS

On 23 September 2008, the European Commission published a proposal for a regulation introducing lower prices for roaming data services and SMS. The document also takes into account the reduction of voice services. The Commission seeks to improve transparency of Internet usage and downloading of data from mobile phones during travels abroad.

18.12.2008

•

Getting the Deal Through – Electricity Regulation 2009

Václav Rovenský and Ján Béreš became the first contributors for the Czech Republic in the publication Electricity Regulation 2009 for the series Getting the Deal Through, published by London-based company Law Business Research Limited. The publication contains an overview of information on legal regulation in the electrical energy sector of 34 countries. The chapter concerning Czech law can be downloaded here

18.12.2008

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Approval of the climate-energy package expected by the end of year

France exerts significant efforts to bring all 27 EU member states to reach an agreement on reduction of greenhouse gas emissions, energy consumption and use of alternative sources by the end of this year, as it has set this task as one of the priorities of its chairmanship. Non-standard procedures should also assist to push through one of the most costly projects – the so-called informal “trialogues” between European Parliament, Council and Commission, by which Parliament waives a part of its powers in favour of such compromise or for intensive separate negotiations by the French president with individual EU member states.

18.12.2008

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Impact of tax duty depending on possibility to infringe competition

Resolution of the European Court of Justice (ECJ) dated 16 September 2008 in matter C‑288/07 Commissioners of Her Majesty’s Revenue & Customs vs. Isle of Wight Council, Mid-Suffolk District Council, South Tyneside Metropolitan Borough Council, West Berkshire District Council. Interpretation of the Sixth Directive on VAT – Article 4, para 5 – Activities performed by a public-law entity – Operation of paid car parks – Infringement competition – Meaning of the expressions “if it led” and “significant”.

17.12.2008

•

KSB joins Pro Bono Declaration

Law firm Kocián Šolc Balaštík joined the Pro Bono Declaration within the framework of the Pro Bono Centre that aims to support the development of pro bono legal services provided by Czech attorneys.

9.12.2008

•

Proposal for amendment of Tax Administration and Collection Act and new Tax Rules

An amendment to the Tax Administration and Collection Act is now at the Chamber of Deputies awaiting a third reading. The proposed amendment amends the rules for imposing sanctions for infringement of confidentiality obligations and introduces a suspensory effect should additional payment assessment be issued after completion of a tax inspection.

9.12.2008

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New form for VAT returns

From 1 January 2009, a new form shall be valid (No. 25 5401 MFin 5401, sample No. 15) for value added tax returns. The new form, in comparison with the existing four-page form, only has two pages. Services rendered outside the Czech Republic shall newly be monitored and reported separately. Besides renumbering individual lines in the tax return, the form includes new lines in connection with the most recent amendments to the VAT Act. The form is to be first used for the taxation period of January 2009 or first quarter of 2009.

9.12.2008

•

Prepared Draft Acts

The House of Representatives (Lower House) approved an amendment to the Road Tax Act. The amended provisions should result in reduction of road tax rates for vehicles over 12 tons used as new for businesses that are more environmentally friendly. The lower rate should apply for 36 months following the first registration.

9.12.2008

•

Controversial resolution of the Supreme Court

The Supreme Court, in its resolution No. 22/2007, addressed the differences between the loan agreement regulated by the Civil Code and the credit agreement pursuant to the Commercial Code. Pursuant to the Supreme Court, the difference is, inter alia, based on the subject of the agreement.

9.12.2008

•

International Tax Relations

9.12.2008

•

Amendment to the Act on Accounting

On 19 August 2008, Act No. 304/2008, Coll. was published in the Collection of Laws, which amends the Act on Accounting. This amendment will become effective from 1 January 2010, and only selected provisions will become effective from already 1 January 2009.

9.12.2008

•

Amendments to Tax Laws

On 4 July 2008, the amendment to the Road Tax Act became effective, which introduces a new system that reduces road tax rates for more environmental friendly cars from 2009.

9.12.2008

•

Amendment to VAT Act and Excise Tax Act

The Chamber of Deputies had a first reading of the governmental proposal to amend the VAT Act and the Excise Tax Act, which has been proposed to take effect from 1 December 2008.

9.12.2008

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Notification of Finance Ministry on Standard Classification of Production to allocate services for application of reduced VAT rate as of 1 January 2008

The Czech Statistical Office superseded the Standard Classification of Production by Production Classification (CZ – CPA) with effect from 1 January 2008. The Finance Ministry announced that for the purposes of the VAT Act, the Standard Classification of Production valid from 1 January 2003 shall continue to be applied. This classification shall be further binding for allocation of services after 1 January 2009.

9.12.2008

•

VAT round-off

In connection with the cancellation of fifty-heller coins, the validity of which was terminated as of 31 August 2008, the Czech Tax Administration published information concerning the rounding off of taxes in respect of VAT.

4.12.2008

•

VAT News - Horses Follow Housing. TURF Magazine, September/2008

Václav Pátek, a tax expert at law firm Kocián Šolc Balaštík, prepared a contribution for the Bulletin of the Czech Union of Full-Blooded Horses and Owners of Race Horses, Český chov, which is a part of TURF Magazine. The contribution focused on a change of VAT rates for the sale of race horses resulting from the amendment to the VAT Act effective from 1 January 2009. To apply the lower VAT rate on the sale of race horses for 2009, VAT prepayment should be made before the end of the year, similar to housing for 2007. The whole article can be downloaded here (in Czech only)

20.11.2008

•

Czech Republic Takeover Guide

Dagmar Dubecká and Vlastimil Pihera prepared an information document for the International Bar Association addressing the legal regulation concerning takeover bids in the Czech Republic. The document summarizes the basic principles of the new legal regulation of takeover bids in the Czech Republic, a new construction of the bid obligation, types of actions on the grounds of a takeover bid or an unfulfilled bid obligation and the method of performance of supervision over takeover bids by the Czech National Bank. The published text contains information applicable as of the editorial closing date, i.e. April 2008. The contribution can be downloaded here

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Brussels Office Established

Kocián Šolc Balaštík &ndash; Brussels Office

Zprávy

Requirements for remuneration policy in financial services sector

EU regulates hedge funds and other alternative funds

The liberalization of energy markets approved

Remuneration of directors of listed companies

Amendment to regulatory framework (Solvency II) approved

Change in the Field of State Aid

Amendment to State Aid to Cover Interests from Loans for Repairs and Modernization of Houses

New conception of Support for Research and Development

Kocián Šolc Balaštík expands its team

Regional Court in Hradec Králové issues first European order for payment on 10 June 2009 upon application by KSB

Co přinášejí datové schránky

KSB assists unit trust in takeover of assets of joint stock company, the first transaction of this kind in Czech Republic

2009 Legislation News

Negotiated amendments

From Judicature - the Supreme Administrative Court comments on the term “in connection with business operations” used throughout tax legislation

Severe penalties on employers of illegal immigrants

Certain services subject to reduced VAT rate

Freedom of Establishment; Cross-Border Transfer of a Company Seat

Liberalization of energy markets proceeds to second reading

Directive concerning the general arrangements for products subject to excise duty

Commission’s priorities for assessing abuse of dominant position

SPE – a uniform company throughout the EU

Regulation on credit rating agencies

Proposal for Directive on Industrial Emissions (Integrated Pollution Prevention and Control)

Agrofert’s take over of Agropol permitted

KSB Opens Branch Office in Ostrava

Negotiated amendments

Notification of the Finance Ministry

New developments in legal regulations from 2009

From Judicature - Award by the Constitutional Court dated 1 December 2008 (I. ÚS 705/06)

MAGNA Group takes over auto plastic parts manufacturer Cadence Innovation

Novelties in Commercial Law. Plus, No. 1/2009

Notification of the Finance Ministry

New developments in legal regulations from 2009

From Judicature - The Constitutional Court Has Issued a Further Interesting Award

International relations

Negotiated amendments

KSB Assists OKD, a.s. in Spin-Off of Energy-Related Assets

Nový trestní zákoník čeká již jen na podpis prezidenta

Changes in Cadastral Register

Increased performance under insurance of deposits

New regulation for documenting certain facts entered in Commercial Register

KSB advises MICHEL THIERRY during restructuring in the Czech Republic

New Attorneys at KSB - Radka Felgrová and Martin Škrabal

KSB represented OKD, a.s. on the sale of its subsidiary OKD, BASTRO, a.s.

Notification of the Finance Ministry

New developments in legal regulations from 2009

From Judicature - The Constitutional Court issued a breakthrough resolution concerning the interpretation of periods set for tax assessment

Negotiated amendments

International Tax Relations

Agreement on changes to the regulation of telecommunications

Reduction of administrative burden of companies by way of limiting publication of mandatory data

Uniform rules for airport charges

Modernization of the legal framework of aviation transport

Assessment of legal regulation on merger control

Reduction of prices of roaming data services and SMS

Getting the Deal Through – Electricity Regulation 2009

Approval of the climate-energy package expected by the end of year

Impact of tax duty depending on possibility to infringe competition

KSB joins Pro Bono Declaration

Proposal for amendment of Tax Administration and Collection Act and new Tax Rules

New form for VAT returns

Prepared Draft Acts

Controversial resolution of the Supreme Court

International Tax Relations

Amendment to the Act on Accounting

Amendments to Tax Laws

Amendment to VAT Act and Excise Tax Act

Notification of Finance Ministry on Standard Classification of Production to allocate services for application of reduced VAT rate as of 1 January 2008

VAT round-off

VAT News - Horses Follow Housing. TURF Magazine, September/2008

Czech Republic Takeover Guide

Kocián Šolc Balaštík – Brussels Office