Tax & Legal Update

GFD provides clarification on reporting of sales received from carriers

Have you properly set contractual terms and conditions with your carriers? Do you know when and who is supposed to report sales with payment collection provided by carriers? Please note that for ERS purposes, not all carriers are the same! The…

How to deliver data messages with powers of attorney

Delivering messages to data boxes have been causing interpretation uncertainties since 2009 when data boxes were introduced in our legislation, in particular where the formal elements of documents delivered via data boxes are concerned. Both civil…

Survey: Czech tax environment not supportive of business

Almost two thirds of finance managers do not consider the Czech tax environment favourable for business activities and more than half of them view the changes made in the last two or three years as negative. In their opinion, the most negative is…

Latest news - February 2017

Last month’s tax and legal news in a few sentences.

Duty to call for additional tax returns not absolute

The Supreme Administrative Court (the SAC) recently had to decide under what circumstances the tax administrator is obligated to call upon taxpayers to file an additional tax return before commencing a tax inspection.

Good news for creditors and collection agencies

In December, the Court of Justice of the EU gave a special Christmas present to all creditors and collection agencies. In its decision, the court explained when legislation regulating the provision of consumer credits should (not) apply to…

New international treaties to alter withholding tax amounts

In 2016, the Czech Republic entered into two new double-taxation treaties and several agreements on the exchange of tax information and cooperation in tax matters. As a result, the amount of withholding tax on payments made to persons in the…

How to tackle damages relating to competition law?

At the end of 2016, the government submitted to the chamber of deputies a bill on damages relating to competition law, aiming to facilitate the recovery of damages for infringements of national and EU competition law on a private-law basis.

Do you know about switching?

Are you happy with the bank in which you have your account? If not, do not despair: changing or switching banks will become an easy matter from as early as March of this year. Owing to an amendment to the Act on Payment Services, implementing…

New non-profit sector bill proposed

A long-awaited draft Act on Publicly Beneficial Status, which aims to enhance the transparency and trustworthiness of non-profit organisations by recording their publicly beneficial status in a public register, has finally been prepared. Although…

Low-Carbon Technologies Programme: second call for applications

The Investment and Business Development Agency announced a second call for applications under the Low-Carbon Technologies Programme, aiming to support the competitiveness of businesses and the sustainability of the Czech economy through the…

Binding rulings now also on allocation of profits to permanent establishments

Thanks to the budget committee’s amending proposal, the above mentioned amendment to the Income Tax Act (Print No. 873) expands the applicability of binding rulings. These will now also apply to the method in which profits are allocated to a…