Tax & Legal Update
2019 VAT Act amendment: Do you issue, distribute or accept vouchers? Will you know…
The final part of our VAT news tetralogy focuses on vouchers and related changes in tax calculation methods.
VAT on services connected with import and export of goods
In June, the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate (GFD) issued a statement on the VAT exemption of services directly connected with the import and export of goods. The information confirms the…
SAC ruling: ‘mistakes can cost you’ also applies to excess deductions
The Supreme Administrative Court (SAC) continues the trend of defending taxpayers against unlawful or incorrect practices of tax administrators. In its recent judgement 1 Afs 28/2018, it awarded a taxpayer interest on the wrongful conduct of a tax…
Active defence pays off in tax fraud investigations
The Supreme Administrative Court (SAC) has brought a new perspective on proving the taxpayer’s involvement in a transaction affected by tax fraud. While remaining consistent with its previous case law as to the distribution of the burden of proof,…
SAC on proving VAT exempt supplies to another EU member state
In its recent judgment, the Supreme Administrative Court (SAC) dealt yet again with the case where the VAT exemption of a cross-border supply of goods was challenged by a tax administrator. Apart from the specific circumstances of the case, the…
Rosy prospects for green investments
In May 2018, the European Commission (EC) presented a package of legislative proposals aiming to promote sustainable finance. The package includes a regulation on disclosures concerning the sustainability of investments, and a regulation on the…
Japan-EU Economic Partnership Agreement signed
Representatives of the EU and Japan met in Tokyo to sign an agreement on economic cooperation. It aims to create new opportunities for the import of agricultural products from the EU, remove Japanese customs duties on products such as cheese or wine…
Another step towards greater transparency of corporate structures?
An extensive amendment to the Corporations Act, prepared by the Ministry of Justice, is presently being debated by the Chamber of Deputies. In this article, we look into the changes that the amendment should bring for members of elected bodies of…
Financial administration’s report for 2017: revenues have grown, mostly from VAT
In July, the Czech financial administration published a report on its activity for 2017: revenues have grown for both direct and indirect taxes. The main cause is the Czech economy’s faster growth and related higher spending by households and…
Omnibus passed – administration to resume for suspended payment requests
On 16 July 2018, the Council of the EU adopted an amended omnibus regulation that lays down the conditions for drawing support from EU funds. The omnibus promises an overall simplification of the system of support. It constitutes a positive step for…
Another obstacle to posting of workers by Japanese investors gone
On 1 August 2018, a protocol amending the Social Security Agreement between the Czech Republic and Japan entered into force. This step will be most welcome by Japanese workers temporarily posted to key positions in the Czech Republic.