Proposal for amendment of Tax Administration and Collection Act and new Tax Rules
Further changes relate to determination of tax for bankrupt tax subjects, postponement of tax payments and permitting installments and the institute of lien. If this amendment is approved, it should become effective on the date of announcement thereof.
In connection with this proposal for amendment to the Tax Administration and Collection Act, we wish to inform you of the preparation of the new Tax Rules. The Government Legislation Council approved the new Tax Rules at the most recent meeting on 6 November 2008. After these rules have been approved by the government, it is expected that they will be submitted to the Chamber of Deputies for consideration. The Tax Rules are supposed to supersede the Tax Administration and Collection Act, which has been amended many times, as of 2010.
We will inform you of the current development of the two above-mentioned acts.
Other articles
KŠB Assisted with the Refinancing of the BigBoard Group, a leading player in the premium outdoor advertising market
Our team provided legal advice to BigBoard Praha, a leading player in the premium outdoor advertising market in the Czech Republic, in connection with its refinancing. Founded in 1993, the BigBoard Group is the largest provider of premium outdoor advertising in the Czech Republic, with an approximately 70% market share and annual turnover of around CZK 2 billion. Its advertising media cover key locations across the country, including the Prague metro and major transport hubs.
KŠB Assisted Sandberg Capital with a Majority Investment in HotelTime Solutions
The KŠB team provided legal advice to the investment group Sandberg Capital on the completion of a majority investment in HotelTime Solutions, one of the leading providers of cloud-based software for hotel operations management.
KŠB assisted Seyfor with the extension of its financing provided by Raiffeisenbank, Tatra banka and, newly, Slovenská sporiteľňa.
The KŠB team provided legal advice to its long-standing client Seyfor in connection with the continuation and expansion of its syndicated financing. The existing lending banks, Raiffeisenbank Czech Republic and Tatra banka, decided to continue supporting Seyfor’s growth, with Slovenská sporiteľňa joining the financing as a new lender.
