Taxes
Details of 2025 amendment to VAT Act - Part II
Below, we continue with an overview of the most important changes brought by the draft amendment to the Value Added Tax Act, this time focusing on the construction sector, in particular on changes in definitions, alterations in conditions for the…
Technical amendment to consolidation package on horizon
As part of the second reading of an amendment to the Act on Investment Companies (Print 570), the coalition deputies have submitted proposals to amend the Income Tax Act and other laws amended at the end of 2023 within the consolidation package,…
Details of 2025 amendment to VAT Act - Part I
The draft amendment to the Value Added Tax Act, currently in the external comment procedure, introduces extensive changes as it transposes EU directives and responds to CJEU rulings and practical experience. Below we present the first part of these…
Amendment to VAT Act to narrow scope of exempt financial activities
The Ministry of Finance is proposing to significantly narrow the scope of financial activities exempt from VAT in a forthcoming amendment to the VAT Act. The aim is to align the Czech VAT Act with the EU Directive and the interpretations of the…
ViDA - digital reporting and e-invoicing still music of the future
The proposal for a VAT in the Digital Age (ViDA) Directive that would modernise and advance the EU’s single VAT system is running behind schedule. The proposal did not move forward during the Spanish Presidency of the Council of the EU, but in the…
Tax labyrinth of employee benefits - most discussed topics
Below, we summarise the problematic areas discussed during our January seminar focused on employee benefits and meals from 1 January 2024. Most questions were related to topics causing difficulties for employers in practice.
How to apply VAT on selected passenger cars in 2024?
In mid-January, the General Financial Directorate (GFD) issued two information pieces on the practical application of changes to VAT from 2024. In this article, we focus on the Information on the VAT Deduction for Passenger Cars with a Purchase…
Practical information on changes to VAT rates
In mid-January, the General Financial Directorate (GFD) issued two pieces of information on the practical application of changes to VAT from 2024. In this article, we focus on the Information on VAT Rate Changes. Another piece, the GDF’s Information…
GFD Information on Application of VAT from January 2024
Last week, the General Financial Directorate published its Information on the Application of VAT on Selected Passenger Cars from 1 January 2024 and Information on Changes to VAT Rates from 1 January 2024. These documents should clarify several…
Income from stock option plans: discrepancy between time of taxation and time of …
The act amending certain laws in connection with the development of the financial market and the promotion of old-age security entered into effect on 1 January 2024. One of the amended laws was the Income Tax Act, which now regulates the taxable…
Real estate tax turning from small to big
The consolidation package introduces a significant amendment to the Real Estate Tax Act. After more than a decade, tax rates have increased by approximately 80%. Many partial changes intended to intensify the collection of this tax have also been…
How to tax employee benefits from 1 January 2024?
The General Financial Directorate has issued its Methodological Guidance on the Taxation of Benefits and Other Types of Performance Provided by Employers to Employees from 1 January 2024 in connection with the amendment to the Income Tax Act…