FATCA
In response to the US’s Foreign Account Tax Compliance Act (FATCA) and the associated international treaty entered into between the Czech Republic and the United States, the Czech FATCA (Act No. 330/2014 Coll., on exchange of information on foreign accounts with the United States of America for tax administration purposes) was published (took effect) on 29 December 2014.
The information exchange includes the collection and relay of information on US tax residents’ accounts from Czech tax authorities to US tax and other contact authorities and vice versa, i.e. exchange of information on Czech tax residents’ accounts from US tax authorities to Czech authorities. The Czech FATCA imposes duties related to payments to non-participating financial institutions and regulates fines for failures to discharge non-cash duties owed to Czech financial institutions. The Czech FATCA took effect on 13 January 2015.
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KŠB Supports Smetana Litomyšl’s Charitable Grand Finale
The 68th annual Smetana Litomyšl Festival closed this year with the Grand Finale – Italian Film Night, which took place under the patronage of our law firm. The Czech Radio Symphony Orchestra, conducted by Tomáš Brauner, performed celebrated film music by Nino Rota, Luis Enrique Bacalov and Ennio Morricone in the second courtyard of Litomyšl Castle, which was also broadcast live on ČT Art and Czech Radio Vltava.
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