Newly submitted Bills
On 12 June 2009 the Chamber of Deputies held a first reading of the governmental draft amendment to the VAT Act (Parliamentary publication no. 801) pursuant to which certain activities would be included in Annex 2 to the VAT Act as services subject to a reduced VAT rate. Repairs of bicycles, clothes and soft furnishing, hairdressing and barber services, restaurants services, excluding supply of tobacco products and serving of alcoholic drinks, should be included under the reduced VAT rate. This amendment becomes effective from the date of publication. Further developments of the amendment will not be known until after the Chamber of Deputies meet in September.
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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.
