As usual, the Act of the Year survey is organised by Deloitte and Deloitte Legal. The patronage was once again taken over by the Chamber of Commerce of the Czech Republic, the Czech Bar Association and the Chamber of Tax Advisers of the Czech Republic. The following five acts have been nominated for the public voting:

• Universal method of identification in the online environment (BankID Act);
• Free access to technical standards (amendment to the Act on the Technical Requirements for Products);
• More flexible labour relations (amendment to the Labour Code);
• Possibility of tax loss carryback (act amending certain tax laws in connection with the coronavirus);
• Predictable rules of water management in times of drought (amendment to the Water Act).

“This year’s edition of the Act of the Year survey is dedicated to environmental regulation, which is gaining crucial importance for entire economic sectors. Additionally, preparations are underway for events that will enlighten the public on this key area of business regulation. I am therefore pleased that the acts nominated this year include those regarding water protection as well. The uniform approach of the majority of the business public fundamentally influences the development of further regulation. Discussion and strengthening of consensus on which business regulation is beneficial is, therefore, a prerequisite for a good business environment,” says Tomáš Babáček, Chairman of the Nomination Board of the Act of the Year survey and Partner at Deloitte Legal.

“It is very positive that the year so heavily marked by the COVID-19 pandemic still brought several first-rate acts that are beneficial for entrepreneurs. This is an important signal for the business sphere that crises are not in the way of the preparation of regulations that may significantly streamline and improve the business environment in the Czech Republic,” says Vladimír Dlouhý, President of the Chamber of Commerce of the Czech Republic.

“Indeed, this year’s selection of nominated acts is very interesting and highly relevant; in many cases, it is a testament to the usefulness of the cooperation between the public and private sectors in the field of legislation. From the BankID Act, which provides a very practical way of using electronic banking identification as the official state-recognised identification of nationals, to the act allowing tax loss carryback, which is highly topical with regard to the economic situation caused by COVID-19, to the amendment to the Water Act, aiming at the creation of a system of preventive and operational measures to ensure access to water, which is becoming a scarce commodity,” adds Robert Němec, Vice-President of the Czech Bar Association.

“The act allowing tax loss carryback meets all attributes the act of the year should have. It is a modern, business-oriented and economically logical solution not only to the current difficult situation, but also to other similar situations concerning fire, floods or market loss, which both large and small entrepreneurs may use. Additionally, it is a high-quality norm in terms of the legislative process as well. Communication with the expert public during the preparation of the norm was exemplary, which will significantly simplify and facilitate its implementation in practice. From a long-term perspective, its impact on the state budget is neutral,” comments Jiří Nesrovnal, Member of the Board of the Chamber of Tax Advisers of the Czech Republic, with regard to one of the nominated acts.

The voting takes place physically on the premises of the organiser, individual partners and on www.zakonroku.cz.