News
Recommendations of the OECD for Transfer Pricing in Relation to the Impacts of the COVID-19 Pandemic
Extraordinary economic conditions brought about by the COVID-19 pandemic and consequent responses of governments in individual countries may bring numerous practical difficulties in applying the arm’s length principle. For this reason, the Organisation for Economic Co-operation and Development (the “OECD”) issued a report on 18 December 2020 containing recommendations for taxpayers and financial administrations how to proceed when applying transfer pricing rules in periods affected by the COVID-19 pandemic.
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Czech Economic Outlook: Emerging from the vale of tears
Waiting for vaccine The economy should return to growth this year with the help of widespread vaccination and economic policy stimulus. The pre-crisis GDP level will likely be reached again as we approach 2022.
Proposed amendment to the Employment Act – Short-time working from the employer’s perspective
New legislation on short-time working or reduced working hours (often referred to by its German name of Kurzarbeit) is currently passing through the Czech Chamber of Deputies and has reached the second reading stage.
Flights between Prague and Ostrava
Try domestic route between Prague and Ostrava, LOT Airlines now offers flights up to 5 times a week. If you need to travel to Warsaw, continue on the same flight or use direct connection to Poland up to twice a week.
ERO begins public consulting proces on the proposed parameters for setting 2022 subsidies
At the end of 2020 the first proposal for preliminary technical and economic parameters was posted on the Energy Regulatory Office (“ERO”) website (available for download here), which will be used to calculate the operating subsidies for new and modernized production facilities (the “Proposed Decree”) according to the bill of Act No. 165/2012, on promoted energy sources, currently under discussion (hereinafter the “RES Bill”).
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.
