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Antifragility - Risk as a driver for success
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TRENDING TOPICS

Digital transformationESGWhistleblowing

CYBERSECURITY SERIES: MEASURES TO PREVENT ATTACKS

We continue our series of articles on cybersecurity, this time on key measures
to secure your business.

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EU TO LOOK INTO HACKER ATTACKS AND BETTER SECURE FINANCIAL SECTOR

The European DORA Directive, which is binding for the Czech Republic and all
other Member States, aims to protect banks, other financial institutions and the
accounts of millions of people. The EU is responding to the growing number of
cyber attacks. It therefore sets clear rules for financial institutions on how
they should protect themselves from digital risks and what they should do if
they are actually hit by an attack. The change will be particularly important
for supply chains and smaller financial institutions, which have not had to deal
with this issue much until now. What will the European Directive bring in
particular?

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HOW HAS THE EXPERIENCE OF THE PANDEMIC CHANGED THE WAY COMPANIES OPERATE AND
PREPARED THEM FOR SOME OF THE IMPACTS OF THE WAR IN UKRAINE?

The war in Ukraine and the growing geopolitical tensions took companies in the
Czech Republic and Europe by surprise, similarly to the Covid-19 pandemic a few
years ago. However, the experience of the pandemic helped companies to better
face the impacts of geopolitics on the supply chain. More than two-thirds of
European companies are not sufficiently prepared for the consequences of rising
geopolitical tensions. Almost four-fifths of companies worldwide consider these
tensions to be one of the most serious threats to their business. Alongside
this, the number of companies that do not feel adequately prepared for the risk
of potential cyberattacks has also doubled.

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Featured

Article
Doing Business in the Czech Republic
21 April 2023
The Doing Business Guide 2023 is the updated edition of a series of annual
guidelines providing information about changes with regard to taxes, legal
forms, accounting and business practices in the Czech Republic. In addition the
Guide offers a brief historical, geographical and political overview of the
country.  
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Featured

Article
News in relation to the right to a compensation bonus
02 March 2021
The compensation bonus represents direct support for businesses affected not
only by the effects of government measures, but also by the pandemic as such. At
the end of February, a new law passed the legislative process that builds on the
current form of this support. In addition to other minor changes, the amount of
support was increased from CZK 500 to CZK 1,000 per day. The approved legal
regulation of the new compensatory bonus is in many respects similar to the
current regulation under Act No. 461/2020 Coll., but it should be a simpler and
clearer tool for a wider range of applicants.
Read More
Amendment to the act on conversions of commercial companies and cooperatives
approved
17 June 2024
Company conversions are a tool that is widely used in business practice,
especially for the purpose of optimising ownership structures. The newly
approved amendment to the Act on Conversions of Commercial Companies and
Cooperatives primarily incorporates changes following the adopted Directive of
the European Parliament and the Council and brings significant changes to
simplify and streamline the processes of company conversions.  
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Real estate and VAT - planned changes from 2025
17 June 2024
The extensive amendment to the VAT Act, which has been delayed for a long time,
already has a paragraph-by-paragraph wording. Most of the amended provisions are
scheduled to come into force on 1 January 2025. As the area of immovable
property will undergo significant changes, we would like to draw your attention
to them in advance.  
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Článek
Notice of suspension of the articles of the two-way denial agreement with
Belarus
17 June 2024
On the basis of the communication of the Ministry of Finance of the Czech
Republic on the Treaty on avoidance of double taxation between the Czech
Republic and Belarus (the Treaty), Belarus has temporarily suspended the
implementation of certain articles of the Treaty.  
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GFD information on the suspension of the articles of the two-time taxation
agreement with Russia
17 June 2024
Following the Communication of the Ministry of Finance of the Czech Republic
dated 20 September 2023 on the suspension of the implementation of Articles 5 to
22 and Article 24 of the Double Taxation Treaty between the Czech Republic and
Russia (the Treaty), the General Financial Directorate (GFD) issued information
on 30 April 2024 explaining the impact of this suspension.  
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Essential expenses and the possibility of using them in tax procedures
17 June 2024
In March 2024, the Supreme Administrative Court (SAC) issued a judgment
concerning the use of essential expenses in evidence in tax proceedings. So far,
the SAC's statements on the issue of essential expenses have been rather
contradictory. Therefore, this time the issue has been addressed by the extended
chamber.  
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BDO Global Risk Landscape 2024
10 June 2024
The "BDO Global Risk Landscape 2024" study examines how the risk landscape is
changing for businesses around the world. The study highlights the need for
organisations to adopt an 'anti-fragility' approach, which means looking for
opportunities in risks and exploiting them to gain competitive advantage.
Read More
Obligation to keep records of all DPP from 1 July 2024
05 June 2024
As of 1 July 2024, employers are obliged to keep records of all work performance
agreements (WPAs), both insured and uninsured. Employers will have to report a
list of all workers employed on a DPP, including their income, on a monthly
basis on the "DPP Statement" form. This will be submitted by the 20th of the
following month, i.e. for the first time for July by 20 August 2024.  
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Fixed monthly FX rates
03 June 2024
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