News
Billing foreign business trips for which allowances were paid: watch out for the pitfalls
Advances paid to employees who are being sent on foreign business trips must always conform to the Labor Code. At the same time, though, the company must account for travel allowances in accordance with the applicable accounting rules and internal policies.
Twitter
Linkedin
Facebook
Google+
Global tax reform is looming
On 1 July, another significant step was taken in the process. 130 jurisdictions [1] (including the Czech Republic) issued a joint Statement under the OECD framework, in which they have joined a new two-pillar plan to reform international taxation rules. The Statement indicates an ambition to finalize the detailed technical parameters by October 2021, with expected start of application of the new rules from 2023.
Orders are growing but components for production are missing
In May, industrial production fell more than expected month-on-month after the previous expansion. The reason is the limited supply of production components. The year-on-year comparison is still strongly influenced by last year's slump. Weaker industrial production was also reflected in a reduction of the foreign trade surplus. On the other hand, construction grew slightly in May. From the financial market point of view, production data surprised negatively; however, this should not affect the expected further tightening of monetary policy.
Employee non-compete clause
There are three types of non-compete clauses in Czech law
- General non-compete clause: applies to members of statutory and other corporate bodies of corporations, and to some freelance workers;
- Agency non-compete clause: applies to freelance sales agents (obchodní zástupce);
- Employee non-compete clause: applies to employees.
Strategic Directions for Czech Economic Policy
- Transition to High-Tech Manufacturing and Exports
- The City Campus as Idea Factory
- Government Programs and Processes That Drive Innovation
- Government as a Competitive Advantage, including Digitization
Advocacy Priorities for 2023
Technology, People, Infrastructure
Actions Recommended in Areas:
1. Establishing Policy Objectives for Research.
2. Research Investment and Cooperation. Big Bets (Key Technology Projects).
3. Establishing Databases for Tracking Public Policy Outcomes.
4. Public Procurement as an Innovation Tool.
5. Immigration of STEM Talents.
6. Digitization of Immigration.
7. Adult Reskilling and Upskilling.
8. Digitization of Land Use.
9. Infrastructure Development, including Technology Parks.
Read the documents in English and Czech.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
