NEWS & PUBLICATIONS
Czech National Bank: Change at Helm
Will the change in the governor of the Czech National Bank (CNB) have an impact on its current policy? This is a question the markets have asked themselves since the surprising appointment of a new head of the CNB by president Miloš Zeman.
Russian Oil Embargo Fuels Disputes in Slovakia
The invasion of Ukraine by Russian troops sparked countless responses in order to help Ukraine and limit funding of the Russian economy and hustle war. Oil represents one of the greatest incomes of Russia’s state budget.
Home Office and Meal Vouchers
Although home office existed before, only mandated lockdowns during the Covid pandemic made it popular. Employers have found that working from home works well and home office is now a very popular benefit in the Czech Republic.
A Costly Mistake by the Tax Office
The Czech tax administration overcharged a large number of tax pages. This can be concluded from a recent ruling by the Supreme Administrative Court, which struck down a malpractice of the Czech tax administration. According to the court, the tax administration miscalculated the (default) interest on taxes owed.
Social Media Regulation: YouTube and Co.
YouTube-type video sharing services should be subject to stricter regulation. This is the goal of the European Audiovisual Media Services Directive. The Czech Republic was obliged to transpose this directive into Czech law by September 19, 2020.
Digitalization of Corporate Law
The Czech government proposes amendments to the Act on Business Corporations concerning the use of digital instruments and procedures in corporate law.
Price Regulation as Response to Energy Crisis in Slovakia?
Energy markets are constantly facing unpredictable challenges. A long lasting Covid-19 pandemic, significant inflation at the beginning of 2022 and the military aggression by Russia against Ukraine resulted in an extremely adverse situation on the European market with energy commodities.
Preventing Insolvency in Slovakia
Slovakia has adopted a new regulation which shall help companies that have run into financial difficulties. Statistics indicate that up to 65 % of the companies which declared bankruptcy, had been having financial problems for a time period of three years prior to declaring bankruptcy.
Priorities of the New Czech Government
A new pro-western government comprised of a centre-right coalition of 5 parties was sworn in shortly before Christmas in Czechia.
Salary Rates in the Czech Republic in 2022
Legislation regarding wages is usually amended at the beginning of the new year. Since 2015 the minimum wage has been regularly increased every year. 2022 is no exception. Below is a basic overview of the minimum, guaranteed and average salary rates for 2022.
The Virtual Notary
An important amendment to the Act on Notaries and their Work Activities (Notarial Procedures) entered into force. It aims at digitalization of notarial activities and protection against fraud relating to verification of signatures or notary deeds.
Less Aggressive Electronic Communication
The latest amendment to the Czech Electronic Communications Act supports the construction of high-speed internet networks and introduces important rules to better protect consumers.