On 23 October 2014, the Czech Senate approved tax law amendments in regard to the application of transfer pricing rules and taxation of investment funds, and the repeal of certain previously proposed amendments. The main changes include: Transfer pricing rules will not apply to interest-free or low rate loans below the arm's length interest rate when the lender is a non-resident Basic investment funds eligible for the 5% corporation income tax rate for investment funds are defined for income tax purposes as: Funds qualifying as a mutual fund under the Investment Funds and Investment Companies Law, or as a trust...