The Ministry of Trade and Industry announced further measures in the strategy of decreasing the legislative burden with which mainly sole traders have to cope. Such strategy is a crucial step in promotion of trading as one of the pillars of economic recovery. As a previous measure, the Ministry adjusted the process of sole traders' recording the Trade Records (necessary documents and further details). The amendment aims at decreasing the administrative burden by the fact that sole traders need not provide necessary documents (stipulated by the Act) in case they have already provided them. In fact, the amendment introduces the situation that such documents would be stored in the Trade Records. A sole trader will have to provide only such document that proves a change within the current state of affairs.

The amendment of the Trade Act (živnostenský zákon) has been put on the agenda of the Chamber of Deputies session on 4 February.

For further information, click here (explanatory report).