Technology, Information & Communication

Information and communication sectors today are best characterised by one word: change. A highly competitive and continually changing environment and pressure for constant innovation create a dynamic synergy of opportunities and challenges.

Staying on top requires the right technology, innovative partnerships and a sustainable business model. The information and communication technology sector in the Czech Republic is constantly evolving and has retained good growth potential. Much of the growth in the information technology sector is driven by foreign direct investment, e.g. in technology centres, international corporate branches, offshore IT companies, etc. Over the last few years, the Czech Republic has become an important centre for technology services with high added value. The telecoms industry on the other hand is at a turning point. Telco companies are spending lots of money on increasing network capacity and upgrades while they struggle to optimise returns on their investments. It has come to a point where letting technology drive Telco CAPEX decisions is not the best idea - Telco companies need to adopt a more commercial approach. At the same time, Telco companies will have to face accounting challenges resulting from the planned changes to the IFRS revenue recognition criteria and accounting for leases.

PwC around the world assists clients in the field of telecommunications, software and IT technologies not only to solve business issues, help with regulation, compliance and risk but also to develop and achieve long-term strategic objectives. Our experts deliver top class service thanks to their industry expertise and global perspective. That is one of the reasons why more technology companies choose PwC than any other professional services firm.

PwC globally:

• provides audit, tax and advisory services to 68% of the FT Global Technology companies
• audits 41% of the Fortune 500 Technology companies
• audits 45% of the Fortune 500 Computers & Networking companies
• audits 33% of the Fortune 500 Software companies

Industry Challenges

How PwC can help

Understanding market challenges is only a half of the success. The rest lies in knowing how to face them. During the 150 years of our existence we have found again and again that hard times are the best teacher. We are here to share our knowledge and practical experience. We will help you face your business challenges and achieve your long-term goals.

Industry specific services

• Telecom Revenue Maximizer and Telecom Cost Minimizer tools – revenue assurance and profitability maximisation services
• Optimizing the value of patents and trademarks and determining the best location of legal ownership of such intangible assets
• VAT refunds from other tax jurisdictions (relevant for mobile operators which provide roaming services)
• Assessment of the appropriate tax treatment of the significant R&D costs involved in developing new technology
• Advice on applying for investment incentives for technology manufacturers or technology centres and on the use of such incentives
• Assurance on regulatory accounting
• Design of tax-efficient employee share plans