6.11.2008
News

Penalties on Cash Payment Cap Alleviated

It has been over four years since the 15,000 Euro cap for cash transactions was introduced. The Act on Restriction of Cash Payments was amended in August to modify the penalties, including fines for breach of the cap.

The bottom penalty limit of ten thousand Czech crowns has been cancelled. This is good news since the fine of ten thousand Czech crowns had to be imposed on even minor violations of the Act. The top limit for penalization has been reduced from five million to half a million Czech crowns, but this applies only to individuals. While legal entities are still subject to the top limit of five million Czech crowns, a release from liability has been introduced for them. Legal entities that wish to be released must give sufficient evidence that they have exerted all reasonably expected efforts to avoid the breach of the statutory duty. Liability may also expire if the authority in charge fails to initiate proceedings on a committed delinquency within 1 year after having learned thereof.

Other articles

1.4.2025
News

We Succeeded in Another International Ranking

Just a week after the results of the Chambers Europe ranking were announced, we’re thrilled to share more great news – the renowned Legal 500 has published its annual overview of the leading law firms in the EMEA region, and we have once again confirmed our strong market position.
26.3.2025
News

We Confirmed Our Strong Standing in the Chambers Europe Rankings

We are pleased to announce that we have confirmed last year’s strongest-ever results in the Chambers Europe rankings, published by Chambers & Partners. In the 2025 edition, KŠB once again received excellent rankings in 11 categories. In addition, 13 of our colleagues received individual recognition—our best result in the firm’s history. This year’s recognition is crowned by a nomination for the prestigious Chambers Europe Awards 2025 for the best law firm in the Czech Republic.
5.3.2025
News

First Commentary on the Bonds Act Published

C.H. Beck has released the first-ever commentary on the Bonds Act, authored primarily by KŠB’s Jan Lasák, Jan Dědič, and Josef Kříž. Spanning over 700 pages, this comprehensive publication provides an in-depth interpretation of the Act’s individual provisions, drawing on the authors’ extensive expertise in corporate finance