As of next year, employers may apply a 5% reduction to the employer’s social security contributions for their employees. The rationale behind the relevant amendment to the Act on Social Security and Employment Policy Contributions is to motivate employers to hire individuals who, due to their age or various life situations, cannot enter into full-time employment.

On 26 October 2022, the Ministry of Finance sent a draft of the new Accounting Act for the comment procedure. The draft of the new Accounting Act is based on the intended subject-matter that was approved by the government on 5 October 2020. The intended subject-matter was developed by the Ministry of Finance in cooperation with a working group that included experts from both the academic background and accounting and audit practice.

The Czech Office for the Protection of Competition has imposed a fine of almost the maximum possible amount (in this particular case) of CZK 22.5 million on an electronics distributor. The Office has already applied a similarly strict fining procedure in recent months against other competitors in at least three other proceedings for obstruction of its local inspections. The Office thus continues its trend of imposing fines at the upper end of the statutory limit. If a competitor breaches its obligation to cooperate with the Office, it can be fined up to 1% of its turnover under the Competition Act, and repeatedly up to 10% of its turnover.

Amazon supported SMEs to achieve over €14.5 billion in exports and create 100,000 new jobs in 2021. Our 2022 SME Impact report also reveals insightful data about how our SME relationships have expanded over the years.

Almost 30 years ago, Amazon was a small business founded on an entrepreneur’s vision and passion. While we have grown over the years, we have retained that same entrepreneurial spirit and we have never lost sight of the importance of launching, scaling and supporting small and medium-sized enterprises (SMEs).