On 1 May 2016, the new Union Customs Code (Regulation of the European Parliament and the Council No 952/2013) and Commission Delegated Regulation No 2015/2446 came into force alongside Commission Implementing Regulation No 2015/2447, which together form the new foundation for customs law applicable throughout the EU. The amended law’s main objective is mainly to…
Act 222/2004 on value added tax, as amended (the VAT Act) imposes certain duties on non-VAT payers. Even if not liable to pay VAT, businesses should still be monitoring their revenues to know whether they have exceeded the threshold for mandatory VAT registration. Unless a business has been paying attention to its accounting during the…
At first glance it often seems a change in a shareholder’s address, name or amount of registered capital is something trivial. But this would be far from the truth. Section 5 (5) of Act 530/2003 Coll. on the Commercial Register, as amended, requires individuals entered in the Commercial Register and individuals empowered to act on…