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The imposition of fines and sanctions is always extremely undesirable and out-of-time news for modern entrepreneurs.

That is why it is extremely important for them to transmit all the digital data of their financial and economic activities to the appropriate regulatory authorities not only correctly, but also in time. Special attention is also required to the amendments made to the current legislation of the country of operations. Today, most of the nuances of preparing and submitting reports are related to the spread of a pandemic in the world, because of which companies are forced to suspend their work or switch to remote mode.

Government agencies and regulatory authorities are no exception.

Generally, the main annual report must be prepared, verified and submitted by March 31. There may be fines and additional sanctions for violation of these requirements. Penalties shall be paid in order to be able to resume work.

Due to the spread of dangerous viral infections in most countries, the deadlines have been postponed. This also applies to areas where FChain’s offices operate successfully. In the Czech Republic, the submission of the annual report was initially postponed to July 1, 2020, but according to current requirements, all entrepreneurs must deliver reports before August 18, 2020. Meanwhile, it is important to monitor all adopted changes to existing standards.

As practice shows, this particular moment requires a lot of time and attention. A good alternative to this is the opportunity to entrust all the work to real professionals, namely, accountants and lawyers of the FChain team. Such a decision will help not only to avoid possible additional costs for the repayment of fines and sanctions, but also to correct the mistakes made with minimal losses. Each of our clients can be sure of the quality of work performed and guaranteed positive result.

After all, we are always ready to help with the report, which means that there is still a chance to rectify the situation by calling and making an appointment with the FChain team.

Regards,
Lala Mammadova