Notice regarding amendment to the Income Tax Act
We would like to draw attention to the following changes of duties of parties that pay tax, which take effect as of 1 January 2011 but apply retroactively to the previous year:
- the annual 2010 withholding tax settlement must be filed by 30 April 2011;
- the annual 2010 employment income tax settlement must be filed by 28 February 2011; if filed electronically, the deadline is extended until 20 March 2011.
For the first time, the Code of Tax Procedure provides for the filing of a supplementary settlement in respect of a 2010 settlement. The supplementary settlement cannot be filed for 2009 or any earlier taxation period.
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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.
