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14.1.2022
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News
Pro bono

Fundraising for staff of covid departments at the Motol University Hospital

In order to appreciate and encourage the nurses and brothers in the current difficult times, we organized a pre-Christmas fundraising at KŠB for the staff of the covid departments of the Motol University Hospital.
11.1.2022
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News
Publications

Applicability of Small Size Premiums in Determining the Fair Value of Shares and Appropriate Consideration

KSB Partners Prof. Jan Dědič and Jan Lasák and junior lawyer Filip Buchta recently co-authored the article “Applicability of Small Size Premiums in Determining the Fair Value of Shares and Appropriate Consideration”.
8.1.2022
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News

10th Annual Contract Competition Held

ELSA, the largest independent association of law students in the world, and law firm KŠB recently held the 10th annual Contract Competition.
5.1.2022
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News
Environmental Law

KSB Defends Another Biomass Heating Plant Against Lesy ČR’s Damages Claim

KSB’s environmental law and litigation specialists have scored a significant victory, as another operator of a biomass heating plant does not have to pay damages to state enterprise Lesy České republiky (the Czech Forestry Agency) for immission damage to forests.
4.1.2022
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News

Tomáš Sequens Named New KSB Partner

As of 1 January 2022, KSB counsel Tomáš Sequens became a new partner.
10.12.2021
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News
M&A
Real estate and construction

Advice to JTZE a.s. on Investments in Agriculture

JTZE a.s. (J&T Zemědělství a Ekologie), a J&T Real Estate group company that specialises in agricultural investments, has, over the past few months, acquired shares in several companies that are engaged in primary agricultural production. The latest acquisition was Farma Neznašovy a.s., which was preceded by the purchase of Statek Sobětice s.r.o. and Žďár Chudenice s.r.o. The total volume of cultivated land is more than 5,600 hectares.
8.12.2021
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News

KSB Succeeds Among Czech Business Leaders

KSB made a mark in its first year of participating in the Czech Leaders Awards and took second place in the Capital City of Prague. “We are extremely grateful to have achieved such success, especially in the current complicated times,” said Jiří Horník, who attended the award ceremony on KSB’s behalf.
6.12.2021
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News
M&A
TMT

KSB Advises Titans Freelancers on Acquiring Stake in Bridgewater

KSB's team led by Drahomír Tomašuk, Ján Béreš and Ondřej Siška advised Titans Freelancers, a Slovak company engaged in outsourcing IT specialists, on the acquisition of a 75% stake in Czech-based Bridgewater. Bridgewater helps companies find suitable IT specialists and IT professionals find new career opportunities and challenges. It also focuses on non-IT staff, especially middle and senior management positions, and hard-to-fill jobs.
3.12.2021
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News
M&A
Real estate and construction

Advising the Focus Estate Fund on the sale of retail parks

KŠB’s team (Jiří Horník, Luděk Vrána, Jakub Porod, Zuzana Slabá) assisted the Focus Estate Fund in the sale of the Centro Ostrava Retail Park in Ostrava and Most Retail Park in Most to the Czech investment group DRFG. The tenants of the spaces in the retail parks include JYSK, Mountfield, Sportisimo and Breno Carpets. The total leasable area of ​​both parks is 14,170 m2.
29.11.2021
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News
M&A

Advising Aramark on the Acquisition of Sodexo’s Catering Division

KSB’s team led by Jan Lasák recently advised on a major acquisition in the catering services sector. The client, Aramark, acquired the catering division of the Czech branch of French company Sodexo, which is engaged in providing services in the areas of canteens, catering, full-service building management, and the operation of food and beverage vending machines. As a result, Aramark has consolidated its leading position on the catering market in the Czech Republic.
12.11.2021
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News

Assistance to AI Startup Incubator in investment in AssetFloow

KŠB‘s team specializing in venture capital investments (Ota Mach and Josef Kříž) assisted AI Startup Incubator (a fund focused on AI start-ups) in investing in AssetFloow.
10.11.2021
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News
Real estate and construction

KSB Advises ARETE on Closing Its Real Estate Sub-Fund

The ARETE investment and real estate group, which includes funds that invest in real estate, has successfully closed the investment cycle of its ARETE INVEST CEE II sub-fund. Following the EUR 113.2 million sale of the sub-fund's portfolio to Cromwell European REIT (CEREIT) in March (KSB advised ARETE on the transaction as well), the company has paid all investors in the sub-fund and settled the bank financing liabilities.
8.11.2021
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News

Vlastimil Pihera to speak at the CASHLESS FUTURE conference

Hospodářské noviny is planning the 8th annual conference on a cashless society and business CASHLESS FUTURE. This year's event will focus on digital services, changes in AML and cryptocurrencies, and other financial services that are shaping the financial sector today.
1.11.2021
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News

KSB Sits Out of the Czech “Law Firm of the Year” Awards

In response to epravo.cz’s announcement of the results of its Law Firm of the Year competition, we would like to point out that KSB has refrained from taking part in the competition for the last six years and this year is no different.
25.10.2021
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News
M&A

Ostrava-based EKOVA ELECTRIC Becomes Part of ŠKODA TRANSPORTATION

In 2020, KŠB started advising ŠKODA TRANSPORTATION a.s. on the acquisition of a 100% stake in EKOVA ELECTRIC a.s., an Ostrava-based company engaged in manufacturing, upgrading and servicing trams, trolleybuses and electric buses (more information here).
15.10.2021
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News

Contract Competition 2021

14.10.2021
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News
Real estate and construction

KSB Advises ARETE on Acquisition of Site in Plzeň - Borská pole Industrial Zone

KSB's team (Jiří Horník, Jakub Porod and Zuzana Slabá) advised ARETE Group on the acquisition of a 45,666 sqm site in the Plzeň - Borská pole industrial zone.
24.9.2021
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News

Venture Capital Deal: AI Startup Incubator has invested in OpenRefactory

The KŠB team specializing in venture capital investments (Ota Mach and Josef Kříž) advised AI Startup Incubator (a fund focused on AI start-ups) on investing in OpenRefactory.
21.9.2021
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News
M&A

Solitea acquired another IT company with the assistance of KŠB - PRYTANIS, a.s.

The KŠB team led by Drahomír Tomašuk assisted Solitea in the acquisition of a 100% stake in PRYTANIS a.s., a leading Czech supplier of information systems for road hauliers, passenger transport operators and forwarding and logistics companies.
14.9.2021
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News
Pro bono

26th Annual Charity Concert of Good Will – Olga Havel Foundation

This year’s Charity Concert of Good Will, which Kocián Šolc Balaštík has organised since 1995 to help support the Goodwill Committee - Olga Havel Foundation, will take place on Sunday, 21 November 2021 at 19:00 at the Church of St. Simon and St. Jude in Prague’s Old Town.
9.9.2021
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News
M&A

KSB Advises on J&T BANKA’s Partnership with AMISTA

KSB's long-standing client, J&T Banka, has entered into a strategic partnership with Amista, the largest Czech manager and administrator of qualified investor funds. In addition, J&T Banka took over a 9.9% stake in Amista.
19.8.2021
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News
Real estate and construction

KŠB assisted the ARETE group in another investment

The KŠB team (Jiří Horník, Dana Jacková) advised the third fund of the ARETE group, which focuses  on industrial and logistics assets, on the purchase of a facility complex near Beroun. The complex is used for the production and storage for the Czech company Hronovský s.r.o. The financial volume of the transaction was close to EUR 10 million.
26.7.2021
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News
Capital markets

Advice on 3M Fund MSI’s billion-crown bond issue

KSB’s team consisting of Josef Kříž, Vlastimil Pihera and Martin Krejčí provided advice on the issue of senior bonds by 3M Fund MSI, with the issue value reaching one billion crowns (with the possibility of an additional increase to two billion crowns). The bonds were successfully admitted for trading on the Prague Stock Exchange.
19.7.2021
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News
Financial services

Advising the ARETE Group on financing

The KŠB team advised the ARETE investment and real estate group on securing EUR 30 million in financing from Raiffeisenbank. The funds will be used to accelerate the growth of ARETE INDUSTRIAL SICAV fund's portfolio through selected acquisitions and new construction of industrial real estate projects.
19.7.2021
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News
M&A
TMT

Assistance to Solitea in the acquisition of Mainstream

KŠB (partner Drahomír Tomašuk and lawyer Ján Béreš) assisted Solitea in the acquisition of a 100% stake in Mainstream Technologies, s.r.o. and its parent company Powerstream, a.s., being one of the most important partners of the global technology company Microsoft in their branch of business. For Solitea, this is the seventh acquisition of a major partner of Microsoft.
2.7.2021
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News
M&A

Assistance in the sale of Profimedia.CZ

The KŠB team (Josef Kříž and Drahomír Tomašuk) provided legal advice to the seller in the sale of the Profimedia.CZ group, which offers images from all over the world. The acquisition includes the parent company Profimedia based in the Czech Republic and its subsidiaries in Hungary, Croatia and Romania.
30.6.2021
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News
M&A

KŠB assisted Webglobe in the acquisition of savana.cz

The KŠB team (Drahomír Tomašuk and Jana Guričová) assisted in yet another significant acquisition in the field of IT. Our client, the company Webglobe, acquired the company savana.cz which provides domain registration services, web hosting and server hosting.
22.6.2021
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News
M&A
TMT

KŠB assisted Sandberg Capital in the acquisition of DAKTELA

The KŠB team led by Drahomír Tomašuk and Ján Béreš assisted in another significant acquisition in the field of IT. Through the new Sandberg Investment Fund II, the client, Sandberg Capital, acquired a 40% stake in the Czech technology company DAKTELA, which provides comprehensive solutions for contact centres and communication with customers.
16.6.2021
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News

KSB Partners with the Chemical Industry Association

Kocián Šolc Balaštík has become a proud partner of the Czech Chemical Industry Association (SCHP), a professional association of businesses and institutions engaged in the chemical industry. Since 1992, the SCHP has been involved in co-creating a favourable business environment and has advocated the development of the Czech chemical industry.
7.6.2021
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News
Capital markets

Advisory to J&T IB Capital Markets on bond issuance

KSB’s team led by Vlastimil Pihera advised J&T IB Capital Markets on the issuance of senior bonds by Alpha Quest Funds SICAV p.l.c. with the total nominal value of CZK 500,000,000 and Fraternity Funds SICAV p.l.c. with the total nominal value of CZK 400,000,000.
24.5.2021
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News

Dagmar Dubecká Named Among IFLR’s Women Leaders for 2021

IFLR1000, the British rating agency that compiles annual international comparative rankings of law firms, has included KSB partner Dagmar Dubecká in its Women Leaders 2021.
21.5.2021
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News
M&A
TMT

KSB Advises Jamf on Acquisition of Wandera

KSB has once again expanded its reach in IT acquisitions by advising US software company Jamf, which developed Jamf Pro, an application used to configure and automate IT management tasks for macOS, iOS, iPadOS and tvOS devices. KSB advised Jamf on its acquisition of Wandera, a software developer that provides protection against security threats on mobile devices to businesses all around the globe.
11.5.2021
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News
Financial services

KŠB Advises on Financing Twisto

KŠB (Ivo Průša and Martin Krejčí) assisted J&T Bank in financing the development of Twisto. In addition to J&T Bank, which provided a loan of CZK 450 million, the financing was also provided by venture debt fund Orbit Capital and its subfund Conseq Venture Debt, which is jointly operated by investment platform Enern and investment company Conseq.
7.5.2021
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News

Luděk Vrána Joins KŠB

Kocián Šolc Balaštík has added a new asset to its team of lawyers as Luděk Vrána joined the firm as a counsel on 1 May 2021.
15.4.2021
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News

The Legal 500 2021 Recommends KŠB in Ten Areas of Expertise

After being awarded by Chambers Europe, KŠB also defended its position among the best-rated law firms in the Czech Republic in the latest publication “The Legal 500 EMEA 2021” from renowned British rating company “The Legal 500”, succeeding in ten of the eleven rated areas:
30.3.2021
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News

Webinar in cooperation with Legal 500

KŠB, in cooperation with the prestigious rating agency Legal 500, organized a webinar on the topic of Post Covid M&A - A new normal for navigating the transactional landscape in the Czech Republic?
22.3.2021
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News
M&A

KSB Advises Heureka Group on Acquisition of Dataweps

KSB’s team, led by partner Petr Kasík and lawyer Jakub Porod, advised Heureka Group in the acquisition of a 100% stake in Dataweps, a Brno-based technology company engaged in product data analytics and e-shop automation.
18.3.2021
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News

Chambers Europe Recommends KSB in Nine Areas in 2021

In its latest yearbook "Chambers Europe 2021", the renowned British rating company Chambers and Partners recommends KSB in the following areas:
15.3.2021
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News
Private wealth, tusts, foundations

The Vlček Family Foundation

On 10 March 2021, Katarína and Ondřej Vlček established the Vlček Family Foundation with the primary aim of supporting palliative care for children. The founders are investing CZK 1.5 billion in the foundation, which makes it one of the largest philanthropic projects of its kind in the Czech Republic. The Vlčeks outlined details about the Foundation in an interview on Reportér magazine’s podcast, on DVTV and in Deník N.
12.3.2021
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News
Real estate and construction

ARETE INVEST CEE II’s Portfolio of Logistics Parks Sold with KŠB’s Assistance

The ARETE real estate investment group completed the sale of a complete portfolio of the ARETE INVEST CEE II sub-fund to Cromwell European REIT (CEREIT) for EUR 113.2 million (CZK 3 billion). Cromwell is a publicly traded real estate investment trust listed on the Singapore Stock Exchange. We have already disclosed information on the transaction here. 
9.3.2021
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News

KSB scores in Chambers Global 2021

The renowned British rating agency Chambers and Partners once again recommends Kocián Šolc Balaštík in its current publication “Chambers Global 2021”.
8.3.2021
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News
M&A
TMT

Solitea continues with acquisitions, again with the assistance of KŠB

The KŠB team led by partner Drahomír Tomašuk and lawyer Ján Béreš assisted the Solite holding in another acquisition this year. Solitea has acquired 100% of the Czech-Slovak group D3Soft, which has been specializing in its own development and implementation of a CRM system and energy solutions for medium and large companies for almost 20 years.
3.3.2021
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News

Dagmar Dubecká and Sylvie Sobolová in the prestigious ranking of the Top 100 women in the Czech and Slovak legal business

KŠB partners Dagmar Dubecká and Sylvie Sobolová are among the leading representatives of Czech and Slovak law in the ranking of the Top 100 women in the Czech and Slovak legal business. Dagmar succeeded in the category of Mergers and Acquisitions, Sylvie in the category of Intellectual Property.
23.2.2021
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News
M&A
TMT

KŠB assisted its long-term client, Solitea, in its next acquisition

The KŠB team, led by partner Drahomír Tomašuk and lawyer Ján Béreš, assisted Solitea in the acquisition of the IT Services division of the Czech company AspectWorks, in particular by conducting a due diligence and preparing and negotiating acquisition and post-acquisition agreements.
22.2.2021
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News

Dagmar Dubecká Ranked Once Again Among the TOP Women in the Czech Republic

The partner of the law firm KŠB Dagmar Dubecká is once again placed in the traditional ranking of TOP women in the Czech Republic, namely in the category of Top women business - businesswoman.
16.2.2021
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News
M&A

Acquisition of apt Group by Inner Mongolia Mengtai Listed in Deals of the Year 2020

The acquisition of the apt group by China-based Inner Mongolia Mengtai has been included on the prestigious Deals of the Year 2020 list, which is published annually by the China Business Law Journal.
1.2.2021
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News

Petr Kasík Named the New Managing Partner of KŠB

On 1 February 2021, Petr Kasík became the new managing partner of Kocián Šolc Balaštík, taking over the role from Dagmar Dubecká.
27.1.2021
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News
Pro bono

Online Fundraising for the Good Will Committee – Olga Havel Foundation

To date, Kocián Šolc Balaštík has organized 25 charity Advent concerts for the benefit of the Committee of Good Will – Olga Havel Foundation (CGW OHF).
19.1.2021
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News
M&A
TMT

KŠB Advises on Sale of DAQUAS

KŠB’s team, led by partner Drahomír Tomašuk and senior associate Ján Béreš, advised on the sale of DAQUAS, a company engaged in providing full-service IT consulting, acquisition and management of software licenses, use of Microsoft Online Services, and more.
14.1.2021
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News

Devátý ročník Contract Competition za námi!

21.12.2020
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News
Real estate and construction
Tax

KŠB Advises J&T Banka on HQ Acquisition

KŠB team advised J&T Banka on the acquisition of Rustonka Development II, which owns the Rustonka office building in Karlín, Prague, with over 17,900 m2 of leasable area. In September 2020, the bank moved its headquarters to the building together with approximately 750 employees. The value of the transaction is approximately EUR 80 million.
17.12.2020
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News
Real estate and construction

KŠB Advises ARETE INVEST on the disposal of a logistics parks portfolio

KŠB advised ARETE INVEST’s real-estate fund on one of the largest Czech-Slovak real estate transactions this year.
23.11.2020
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News
Aviation and aerospace

Comprehensive legal advice on financing for the purchase of two LET Aircraft Industries L-410 UVP E-20 aircrafts

Kocian Solc Balastik’s aviation team, led by partner Jiří Horník and senior associate Ivo Průša, has provided comprehensive legal advice to ING Bank Śląski (ING group) on financing for the purchase of two LET Aircraft Industries L-410 UVP E-20 aircrafts, which also included special packages containing radars, long-range observation systems, SATCOM datalink, automatic vessel ID system, rescue equipment allowing for carrying out maritime patrol tasks, along with hardware for supporting maritime SAR operations.
18.11.2020
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News
Pro bono

Fundraising for the Good Will Committee – Olga Havel Foundation

30.10.2020
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News
Competition

The European Commission has confirmed, on a preliminary basis, the complaint prepared by KŠB that there was an abuse of dominant position on the railway transport market in the Czech Republic

KŠB’s competition law team led by partner Pavel Dejl and other team members Sylvie Sobolová, Martin Vráb a Hana Dejlová was successful in representing the railway carrier LEO Express in a complaint filed against a dominant competitor on the Czech rail passenger transport market, České dráhy, a.s.
22.10.2020
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News

Contract Competition 2020

8.10.2020
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News
Financial services

KŠB advises J&T Banka on providing project financing to Julius Meinl Living Group for development of apartment hotel on Senovážné náměstí

KŠB’s team, led by Josef Kříž  in cooperation with Ota Mach and under the supervision of partner Martin Krejčí, advised J&T Banka on drafting complete contractual documentation related to project financing worth EUR 27 million for Julius Meinl Living Group.
29.9.2020
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News
Public procurement

KŠB Advises Plzeňské městské dopravní podniky on Public Contract

KŠB’s team of Sylvie Sobolová, Václav Rovenský, Martina Parusová Zímová and Ján Béreš advised Plzeňské městské dopravní podniky, a.s. (Pilsen Public Transport Corporation) on awarding a public contract to renovate the tram depot in Plzeň Slovany.
18.9.2020
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News
M&A

KŠB assisted Eligo in the acquisition of the Czech activities of the Sodiaal Group

The KŠB team provided legal advice to Eligo, a food company specializing in the production of dried dairy products, on the acquisition of the Czech branch of the French company Euroserum, a manufacturer of dried whey, which is part of one of the world's largest dairy cooperatives Sodiaal.  
17.9.2020
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News
Capital markets

KŠB Represents Walteran Company at the ČNB

KŠB’s team led by partner Vlastimil Pihera successfully represented Walteran Company in licensing proceedings at the Czech National Bank to obtain a license to operate an investment company, which the company was granted on 1 September 2020.
14.9.2020
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News
M&A
TMT

KŠB Advises WY Group on Acquisition of HOSTING90 systems

KŠB’s team led by senior associate Jana Guričová and partner Drahomír Tomašuk advised WY Group on the acquisition of HOSTING90 systems s.r.o. and Hosting zdarma s.r.o. – two IT companies specializing in webhosting, managed services, VPS servers, dedicated VDS servers and domain registration.
14.9.2020
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News
Tax
M&A

KŠB Advises on Sale of Smetanová cukrárna

KŠB provided comprehensive legal advice on the sale of Smetanová cukrárna, a.s.
10.8.2020
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News
M&A

KŠB Advises Inner Mongolia Mengtai on the Acquisition of the Czech Part of apt Group

KŠB’s team of managing partner Dagmar Dubecká and senior associates Sasha Štěpánová, Jana Guričová, Viktor Zelinka and Dana Jacková, advised China-based company Inner Mongolia Mengtai on the acquisition of the Czech part of the apt group.
23.7.2020
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News
M&A

KŠB Advises Škoda Transportation Group on Acquisition of EKOVA ELECTRIC

KŠB’s team (partner Petr Kasík and senior associate Jakub Porod) advised Škoda Transportation Group on the acquisition of a 100% stake in Ostrava-based EKOVA ELECTRIC, which is engaged in the manufacture, upgrading and maintenance of tramways, trolleybuses and electric buses.
30.6.2020
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News
Corporate law

KŠB advises its long-term client Solitea on merger of dozens of companies

Solitea Holding, which is engaged in developing business, accounting and HR solutions and has more than 260,000 customers in 15 countries, will merge thirty companies from the Czech Republic and Slovakia into two national companies with effect from 1 July. The merger is primarily designed to streamline and simplify communications and administration.
29.6.2020
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News
Capital markets

Vlastimil Pihera elected to the AKAT Ethics Committee

KŠB Partner Vlastimil Pihera was elected to the Ethics Committee of the Association for the Capital Market of the Czech Republic (AKAT).
26.6.2020
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News
M&A
TMT

KŠB' assistance in the acquisition of a stake in Revolgy Business Solutions

The KŠB team led by partner Drahomír Tomašuk and lawyer Ján Béreš represented the investment company Sandberg Capital in the acquisition of a 35% stake in Revolgy Business Solutions, a company providing digital transformation services through cloud infrastructure and online communication tools, whose clients include Avast, Česká spořitelna , Kofola or Fincentrum.
5.6.2020
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News
Disputes

KŠB won a dispute as the National Theatre’s legal counsel

KŠB won a dispute as the National Theatre’s legal counsel in proceedings before the Supreme Court regarding rent payment. The Supreme Court accepted KŠB’s argument reasoning, dismissed the other party’s appeal, and confirmed the previous decisions by courts of lower instances issued in favour of the National Theatre.
5.6.2020
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News
Financial services

Kocián Šolc Balaštík has advised Boels with Czech aspects on over €1 billion financing of Boels' acquisition of Cramo by way of public offer

Kocián Šolc Balaštík has advised Boels Topholding B.V. (Boels) with Czech aspects on a term loan and a revolving credit facility for Boels of over €1 billion provided by a bank syndicate consisting of Credit Suisse International, ING Bank N.V., ABN AMRO Bank N.V., Coöperatieve Rabobank U.A. and BNP Paribas Fortis NV/SA as mandated lead arrangers, physical bookrunners and underwriters. 
5.6.2020
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News
M&A
TMT

KSB's assistance in the acquisition Axfone LLC's hosting division

KSB team led by partner Drahomír Tomašuk and attorney Jana Guričová represented the leading Czech hosting company IGNUM belonging to the Slovak group WY Group (Sandberg Capital) in the acquisition of hosting division of Axfone LLC, development and telecommunications company with branches in Europe, the USA and Asia.
5.6.2020
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News
Financial services

KŠB advised ARETE Group on refinancing

KŠB represented the ARETE investment and real estate group in the preparation of contractual documentation concerning the (re)financing of the portfolio of its CEE II subfund in the amount of EUR 80 million.
30.4.2020
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News

KŠB Ranks Once Again In The Prestigious Legal 500

KŠB once again ranked in the top spots in the up-to-date yearbook of the prestigious rating agency Legal 500 and is recommended in eight categories.
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Zrušit filtr
9.12.2008
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News

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
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News

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.
9.12.2008
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News

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
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News

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
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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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News

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
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News

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
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Publications

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
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Publications

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
20.11.2008
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Publications

Concerning preclusion in tax law. Daňový expert, No. 5/2008

Václav Pátek published an article concerning preclusion in tax law following the resolution by the extended panel of judges of the Supreme Administrative Court in the professional tax magazine Daňový expert.
14.11.2008
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News

KSB announced as Leading Law Firm in Corporate Law

Law firm Kocián Šolc Balaštík has been awarded the title of the Czech Republic’s leading law firm in the field of corporate law in the first year of the survey Leading Law Firm of the Year 2008.
6.11.2008
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News
Pro bono

Charity Concert of Good Will

Kocián Šolc Balaštík is organising the fourteenth annual Charity Concert of Good Will – Olga Havel Foundation. The concert is to be held in the Church of St. Simon and St. Jude, Old Town, Prague on Sunday 23 November 2008 at 7:00 pm.
6.11.2008
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News

New Anti-Money Laundering and Anti-Terrorist Financing Legislation

The Act on Some Measures against Money Laundering and Terrorist Financing (effective since 1 September 2008) responds to a number of EU legislative requirements, primarily to Directive No. 2005/60 EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (the so-called 3.AML Directive).
6.11.2008
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News

Amendment to Act on Greenhouse Gas Emission Allowance Trading

The amendment (effective since 1 September 2008) responds primarily to the objections raised by the European Commission and abolishes the allowance guarantees for new facility operators or other operators whose facilities changed in terms of use, manner of operation or capacity as a result of major investment.
6.11.2008
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News

Penalties on Cash Payment Cap Alleviated

It has been over four years since the 15,000 Euro cap for cash transactions was introduced. The Act on Restriction of Cash Payments was amended in August to modify the penalties, including fines for breach of the cap.
29.10.2008
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News

20th Annual Conference of the European Air Law Association in Prague

One of the lecturers at the 20th annual conference of the European Air Law Association, which takes place on 7 November 2008 in Prague, is Jiří Horník, an attorney specializing in aviation law at law firm Kocián Šolc Balaštík.
23.10.2008
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News

Client Seminar – Personal Data Protection II

Law firm Kocián Šolc Balaštík is preparing the second part of an ongoing seminar in the field of personal data protection. The seminar will focus on specific topics in this area, such as the transmission of personal data to foreign countries, the processing of personal data of employees (including the monitoring of employees and their electronic communications), CCTV, the sending of marketing communications and other related practical questions.
17.10.2008
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News
Competition

Supreme Administrative Court confirms no bakers’ cartel

Delta Pekárny and Odkolek, both represented by Kocián Šolc Balaštík, won lawsuits against the Anti-Monopoly Office before the Regional Court in Brno and subsequently the Supreme Administrative Court, involving an alleged cartel agreement in the bakery market.
17.10.2008
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News

KSB Scores High in Sports, Too

Kocián Šolc Balaštík (KSB) scored high by finishing second in a number of traditional autumn sport events and contests of attorneys, junior lawyers and back office staff.
9.10.2008
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News
Pro bono

KSB receives VIA Bona Award for Corporate Philanthropy

For this year’s VIA Bona Awards given out by the VIA Foundation, law firm Kocián Šolc Balaštík (KSB) received the Award For Long-Term Partnership for its long-term support of the Good Will Committee – Olga Havlová’s Foundation (GWC) through Advent charity concerts.
30.9.2008
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News

KSB provides legal services to Chapman University

Law firm Kocián Šolc Balaštík provided consultancy to Chapman University of Orange County, California in the establishment of a branch in the Czech Republic. The branch will provide the MBA program in the Czech Republic.
9.9.2008
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News
M&A
Energy

KŠB provides complete legal and tax consultancy in merger of companies from Kladno Energy Businesses group

Within the framework of long-term consultancy services, the law firm Kocián Šolc Balaštík assisted the Kladno energy groups of Energy Businesses from Swiss corporate group ATEL during the restructuring of this group.
9.9.2008
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Publications

Would you like to have a registered seat in Cyprus? Euro, No. 37/2008

Vlastimil Pihera published an article on free movement of companies in Euro. The article refers to the European Court of Justice’s expected resolution in the Cartesio case and the new possibility for companies to move their registered offices within the European Union as a result of the resolution. To download the article click here
5.9.2008
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Publications

Professor Dědič comments on new Transformation Act in Legal Information Bulletin No. 7/2008

Professor Jan Dědič, a partner of the law firm Kocián Šolc Balaštík, published two extensive contributions in the Legal Information Bulletin, a professional monthly for legal practice, on the new act of transformations of commercial companies and cooperatives, which became effective on 1 July 2008.
27.8.2008
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News
M&A

KSB represents Michel Thierry Group during acquisition of FEZKO

Law firm Kocián Šolc Balaštík (KSB) provided legal advisory to the Michel Thierry Group, a leader in the production of textiles and leather for the car industry, during its acquisition of majority shares in FEZKO, a.s. and FEZKO SERVIS, a.s.
22.8.2008
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News
M&A

Sale of Biofaktory

Law firm Kocián Šolc Balaštík has been engaged by the participants of Biofaktory Praha s.r.o., a Czech and Slovak leader in production of animal feed, fodder additives, veterinary medications, health supplements and pet products, to provide comprehensive advisory services on the sale of the Biofaktory Group to international holding company Nutreco, with its registered office in the Netherlands.
15.8.2008
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News

Welcome changes in operation of small trades

Since 1 July 2008, on the basis of Act No. 130/2008, Coll., amending the Trade Licensing Act, requirements for commencement of business activities and reduction of the overall administrative burden for tradesmen are significantly simplified.
15.8.2008
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News

Capital markets - transposition of the MiFID Directive

Act No. 230/2008, Coll., a very important amendment to the Act on the Capital Market Business (“Capital Market Business Act”) was published and transposes Directive 2004/39 on financial tools markets known under the abbreviation MiFID as well as other European regulations into Czech law. The aim of the regulation is to enhance the transparency of financial markets, improve protection of investors and strengthen the competitive environment. The amendment took effect on 1 July 2008. New implementation regulations were issued on the same date.
15.8.2008
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News

New regulation on mergers and other transformations of commercial companies and cooperatives

Act No. 125/2008, Coll., on Transformations of Commercial Companies and Cooperatives, taking  effect 1 July 2008, supersedes the existing regulation of intra-state transformations in the Commercial Code and newly regulates certain transformations with foreign elements, i.e. cross border mergers and transfer of assets to a foreign participant.
15.8.2008
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News

Road tax and new system of reduced rates

Regulation of the road tax has been significantly changed. Act No. 16/1993, Coll., on the Road Tax, as amended, brings extension of the existing exemption from the tax for cars using further kinds of alternative fuels. It further introduces a newly drafted system of reduced rates.
15.8.2008
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News

Electronic collection of debts

From the beginning of July, creditors receive a more comfortable and perhaps faster possibility on how to collect their monetary receivables. Act No. 123/2008, Coll., introduces an electronic payment order into the Code of Civil Procedure.
12.8.2008
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News

Spin-off of ASIANA with establishment of new company and merger

Law firm Kocián Šolc Balaštík provided legal consultancy to ASIANA, spol. s r.o., one of the largest travel agencies with IATA accreditation in the Czech Republic, during its complete restructuring.
5.8.2008
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News

New framework regulation of waste

On 17 June 2008, the European Parliament approved a new directive on waste to supersede the current obsolete norm from 1975. The modernized approach to waste management should lead in particular to reduction of waste production.
5.8.2008
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News

Return of unjustly collected tax

Resolution of the European Court of Justice (ECJ) No. C‑309/06, Marks & Spencer plc of 10 April 2008. The ECJ gave a ruling in response to an application for a resolution on a preliminary issue that was filed within the context of a dispute between Marks & Spencer plc and the Commissioners of Customs & Excise wherein Marks & Spencer applied for return of value added tax unjustly collected by the Commissioner. The ECJ’s resolution interprets Article 28, paragraph 2 of the Sixth Directive (Directive of the Council No. 77/388/EHS on harmonization of legal regulations of EU member states concerning turnover tax).
5.8.2008
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News

Partial progress in liberalization of gas market

In the July session, the European Parliament adopted a package of legislative measures for the gas market at first reading, the objective of which is to deregulate the market, increase its competitiveness and ensure consumer rights. The deputies supported two scenarios from which EU member states can choose: either full ownership separation of suppliers from gas networks or the so-called ITO model – the preservation of network ownership by suppliers with simultaneous introduction of “independent operators of transportation systems”.
5.8.2008
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News

Environmental protection

In May 2008, the long-term process of preparing and putting through legal regulations to punish serious offences against the environment as criminal activities was completed. The European Parliament has approved a draft directive with minor changes pursuant to which infringement of communitarian regulations or Euratom regulations listed in annexes shall be deemed illegal conduct, as well as infringement national acts, administrative regulations or administrative decisions implemented by the regulations stated in the annexes.
5.8.2008
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News

Conflict-of-law rules for contractual obligations in the EU

European Parliament and Council Regulation No. 593/2008 (Official Bulletin No. L 177) on the law applicable to contractual obligations (Rome I), starts from the original Convention on the Law Applicable to Contractual Obligations that has been adopted in 1980 but not yet a part of the European Law. The Regulation implements certain changes to the original Convention in the direction of modernization and specification thereof.
5.8.2008
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News

Possibility of settlement in case of cartels

Commission Regulation No. 622/2008 dated 30 June 2008 / (Official Bulletin No. L 171), which amends Regulation No. 773/2004 relating to the conduct of proceedings by the Commission pursuant to Articles 81 and 82 of the EC Treaty, introduces a procedure for settlement applicable should parties be prepared to admit their participation in a cartel and accept liability.
5.8.2008
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News

Liberalization of postal services

The European Parliament approved opening of the postal services market pursuant to Directive No. 2008/6, published in Official Bulletin L 52 on 20 February 2008. The exclusive right of national post offices to deliver postal consignments of up to 50 grams ceases to exist in most EU countries as of 31 December 2010, but the Czech Republic and other new members may postpone this change until 2013. Simultaneously, they may be refused the right to enter the already liberalized markets.
1.8.2008
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News

Kocián Šolc Balaštík launches new website design

Law firm Kocián Šolc Balaštík (KSB) has recently launched a new website at www.ksb.cz and www.ksb.eu. The redesigned website matches in its scale and technology those of leading international law firms.
1.8.2008
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News

Kocián Šolc Balaštík named Czech Republic’s Law Firm of Year for third time

Kocián Šolc Balaštík was named for the third consecutive year the Czech Republic’s Law Firm of the Year in the international Who’s Who Legal Awards.
1.8.2008
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News

Award by Constitutional Court

The Collection of Acts No. 166/2008 includes an award by the Constitutional Court dated 23 April 2008 cancelling the provisions of the Employee Health Insurance Act that award sickness allowance to employees after the fourth day of sickness, effective as of 30 June 2008. The sickness allowance should be newly paid out beginning the first day of the sickness.
1.8.2008
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News

Transformation Act

Act on transformation of commercial companies and cooperatives (“Transformation Act”) takes effect from 1 July 2008. This new, comprehensive legislation applicable to commercial companies and cooperatives shall replace and supersede current provisions of the Commercial Code.
1.8.2008
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News

Concise Taxes

1.8.2008
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News

Legislative Process

The Chamber of Deputies of the Parliament of the Czech Republic is currently discussing amendments to the Value Added Tax Act and Income Tax Act.  We will inform you of these amendments in the next issue of Tax News.
1.8.2008
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News

Draft Amendment to the VAT Act

Pursuant to our information in the previous issue of Tax News, the Government presented a draft VAT Act to the Parliament of the Czech Republic. This long-prepared amendment primarily harmonizes the provisions of the Czech VAT Act with the provisions of Directive 2006/112/EC (the so-called Sixth Directive Recast) and provides suggestions for simplification and improvement of certain other provisions.
1.8.2008
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News

New Directives of the Council on VAT

In February 2008, two new directives of the Council on VAT were approved. Council Directive 2008/8/EC fundamentally changes existing rules for determining the place of performance for services, i.e. determining EU member states for application of VAT. Most new rules shall be introduced from January 2010, and the remaining ones shall be introduced gradually up to 2015.
1.8.2008
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News

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.
1.8.2008
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News

Grand amendment to VAT Act

On 17 July 2008, the Senate approved a bill to amend the VAT Act. The Amendment, subject to the President’s approval which is expected to be granted, will not take effect before 1 January 2009, but we would like to inform you well in advance of the major changes to be introduced due to the fact some of them will require adjustment of accounting systems and redrafting of commercial agreements. 
1.8.2008
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News

Tax on Capital Contributions

In February 2008, Directive 2008/7/EC on indirect taxes on capital contributions took force. Effective January 209, this directive cancels the original Council Directive 69/335/EEC on indirect taxes on capital contributions. This tax is applied in certain EU member states, but not in the Czech Republic.
1.8.2008
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News

KSB VAT amendment workshop

Since the VAT Act introduces many changes effective 1 January 2009 and preparation well in advance is highly desirable, KSB will hold a workshop specializing on VAT.
1.8.2008
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News

Information from the Ministry of Finance

1.8.2008
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News

Discount Applied for Determination of Tax Advances

1.8.2008
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News

Income Tax

The Ministry of Finance of the Czech Republic published Guideline No. D – 317 on average prices of fuel for calculating the amount of compensation for expenses in consumed fuel to determine income tax bases for the 2007 taxation period. Taxpayers can use these prices to determine tax expenses for consumed fuel, unless they apply expenses in documented amounts.
1.8.2008
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News

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.
1.8.2008
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News

Real Estate Tax

30.7.2008
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Publications

Mutual Funds– the Czech Approach. Euro, No. 30/2008

Vlastimil Pihera, attorney, and Helena Navrátilová, tax advisor at the law firm Kocián Šolc Balaštík, published an article in Euro concerning the current legal interpretation of ownership relations in respect of mutual funds and its impacts on application of the corporate income tax. To download the article click here
25.7.2008
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News

Commission launches consultations on simplified rules for block exemptions

The Commission has presented for consultations new draft rules to exempt more subsidies from the notification obligation laid down in EC Treaty state aid rules.
25.7.2008
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News

ECJ VAT Case law

At the end of March the ECJ issued its decision in Case C-111/05 Aktiebolaget NN on several preliminary matters relating to application of VAT on the laying of seabed optic cables. Although the issues arising particularly concern the criteria according to which supplies of goods may be distinguished from the provision of services, and how to determine the place of supply when providing line constructions, the ECJ decision also has general application.
25.7.2008
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News

Consolidated text of the modernized “Television without Frontiers Directive” available

The Commission adopted on 29 March an amended proposal of the modernised "Television without Frontiers" Directive. After a first reading in the Parliament and the Council, there is now broad agreement with the Commission about the future legal framework for the EU's audiovisual sector.
25.7.2008
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News

Liberal decision of the Commission on gambling

The Court of Justice (“ECJ”) ruled that the Italian criminal penalties for the collecting of bets by intermediaries acting on behalf of foreign companies are contrary to community law (Joined Cases C-338/04, C-359/04, C-360/04 Placanica of 6 March 2007).
25.7.2008
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News

Motor insurance for all passengers (new decision of the ECJ)

The ECJ ruled that the Third Motor Insurance Directive (Third Council Directive 90/232/EEC of 14 May 1990 on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles) requires all passengers to be covered by motor insurance and therefore Irish national legislation, which precludes those not travelling in a part of a vehicle designed to carry passengers, is incompatible with Community law.
25.7.2008
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News

Directive on cross-border mergers in banking, insurance and securities adopted in first reading

In March European Parliament (“Parliament”) gave a first reading of a directive to change European rules on how mergers of banks and other financial institutions are approved. Since the text adopted has already been agreed in informal negotiations with the Council, the proposals should enter force without further changes.
24.7.2008
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News

Beginning January 2008, VAT Payers May Apply for Group Registration

The effectiveness of the Act on Stabilization of Public Budgets will provide VAT payers with the alternative of group VAT registration. The group registration makes it possible for affiliated parties (companies) to act as a single VAT payer with a single registration number for VAT purposes. This means that an entire corporate group will only file a single VAT tax return. Supplies delivered between individual group members are not deemed to constitute taxable supplies. The first groups of VAT payers shall be registered effective 1 January 2009, provided that they apply by 31 October 2008 at the latest.
24.7.2008
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News

Instruction No. D-312

The Ministry of Finance issued Instruction No. D-312 regarding application of reduced tax rates to license fees under the Double Taxation Treaty between the Czech Republic and Belgium. The Instruction sets forth, for the purposes of the aforementioned Treaty, that the listed license fees may be taxed in the country of origin by not more than 5 percent of the gross amount thereof. The Instruction shall take effect on 1 January 2008.
24.7.2008
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News

Deadlines in Tax Proceedings

In connection with the tax entity’s authorization to draw attention to the tax administrator’s inactivity on the grounds of processing filings by tax entities by reasonable deadlines, the Ministry of Finance issued Instruction No. D-308 imposing deadlines on tax administrators for processing filings by tax entities and other parties involved in tax proceedings.
24.7.2008
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News

Client Workshop – pharmaceutical law after 1 January 2008

On 29 November 2007, law firm Kocián Šolc Balaštík (KSB) organized for its clients - major pharmaceutical companies - a seminar focused on important legislative changes in the pharmaceutical industry taking effect in early 2008. The lecturers at the seminar were Hana Heroldová, an attorney specializing in the area of pharmaceutical law, and Václav Pátek, tax expert at KSB.
24.7.2008
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News

Double Taxation Treaty between the Czech Republic and Bosnia and Herzegovina

The Ministers of Finance of the Czech Republic and Bosnia and Herzegovina signed a Double Taxation Treaty between both countries on 20 November 2007. The Treaty shall result in termination of the provisions of the Double Taxation Treaty between the Czechoslovak Socialistic Republic and the Socialistic Federative Republic of Yugoslavia (applicable to Income and property taxes) signed in Prague on 2 November 1981. The termination shall take effect on the effective date of the new Treaty. This may occur on 1 January 2009 if the following legislative procedure in both countries proceeds in the standard manner.
24.7.2008
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News

2008 Foreign Currency Food Allowance Base Rate

The Ministry of Finance issued Decree No. 338/2007 – on calculation of base rates of food allowances in foreign currency for 2008. Decree No. 549/2007 Coll., on base rates of food allowances in foreign currency for 2007 shall terminate on the new Decree’s effective date, i.e. 1 January 2008.  
24.7.2008
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News

Altered Interest Rate

The banking council of the Czech National Bank decided to raise the 2T repo rate to 3.50%, the discount rate to 2.50% and the Lombard rate to 4.50% at its meeting held on 29 November 2007. The new rates shall apply beginning 30 November 2007.
24.7.2008
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News

International Agreements

24.7.2008
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Amendments to the income taxes act (ITA)

Parliament is currently debating several proposed amendments to ITA. The most important of these are the proposals set out in the "Government draft of the Act on stabilisation of public budget" ("Government Draft"). Amended several times, the Government Draft is now on its second reading and is likely to experience further amendment.
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