Tax & Legal Update
Pillar Two: Further administrative guidance released
The OECD's Inclusive Framework has issued its fourth administrative guidance on the implementation of the model global minimum tax rules and information on the process of recognising the qualified status of domestic top-up tax.
Current developments on Pillar One
The OECD has published additional guidance on setting arm’s-length prices of marketing and distribution activities (Amount B) in low-capacity countries (jurisdictions with limited resources and data). The timing of the signing of the multilateral…
Selected foreigners no longer need work permit from July
The amendment to the Employment Act among other things extended the scope of exemptions from foreigners’ obligation to have a relevant permit to work in the Czech Republic: the category ‘citizens of selected countries’ was added. The government has…
SAC’s Grand Chamber clarifies formal requirements for power of attorney
The Grand Chamber of the Supreme Administrative Court has clarified certain aspects of granting a power of attorney for representation in proceedings before state authorities. The SAC pointed out that there are no stricter requirements for the…
International taxation news
KPMG’s EU Tax Centre prepares regular summaries of changes to direct taxes in the EU and internationally that may affect your business.
Amendment to Income Tax Act responding to new Accounting Act
The Ministry of Finance has published a draft amendment to the Income Tax Act, responding to the new draft Accounting Act. The proposed effective date of 1 January 2025 and other parts of the amendment may change during the legislative process.…
CJEU: free-of-charge supply of heat subject to VAT
The Court of Justice of the EU (CJEU) has ruled that the supply of heat free of charge is subject to VAT whether or not the recipient uses it to carry out economic activities. To determine the taxable amount, the cost price must include both direct…
Consumers get right to have defective goods repaired
The European Parliament has adopted a directive on common rules promoting the repair of goods, which introduces the consumer’s right to repair. The new regulation aims to encourage consumers to have products repaired and thus extend their useful…
Financial services: changes to distance contracts
The European Union is modernising and simplifying the legal framework for financial services contracted with consumers at a distance. In response to technological developments, the new directive of November 2023 repeals the original sectoral…
Amendment to VAT Act 2025 in detail – Part III
We present a continuation of the overview of the most important changes contained in the draft amendment to the Value Added Tax Act. As we have already informed our readers, the amendment has gone through the comment procedure, and a version for the…
Major amendment to Code of Administrative Justice
The Code of Administrative Justice is about to undergo a significant amendment to improve the efficiency and functioning of the administrative justice system. The initial draft of the Ministry of Justice contained major shortcomings that could make…