Enacted in September 2020, Act No. 386/2020 Coll. abolished the Czech real estate acquisition tax with retroactive effect (dating back to ownership titles registered in December 2019). The effects that this measure will have on the local residential market are evident and have been addressed in a number of commentaries. However, the potential effects of the tax change on business transactions, whether in the wholesale real estate market or otherwise, have largely been ignored . We will take a first quick look at them in this commentary.

Substantial insights have emerged in recent weeks regarding what to expect from a forthcoming European Artificial Intelligence (AI) legislative proposal, due to be presented by the European Commission in early 2021. The latest discussions confirmed that the regulation of this new technology relies on closely interlinked legislative initiatives, ranging from the new EU Data Strategy and the creation of a Single Data Market to the Commission's Green Deal plan to address climate and environmental challenges. The final objective is to ensure a sustainable digital economy and achieve the ambition of making the European AI regulatory framework a model for the rest of the world.