Tax & Legal Update
Transfer pricing: otherwise related persons and arm’s length price
The Supreme Administrative Court (SAC) has recently closed several cases dealing with the assessment of otherwise related persons - a concept from the area of transfer prices between group companies.
SAC yet again stands up for taxpayers
The Supreme Administrative Court (SAC) has confirmed that a payment to an unpublished bank account does not in itself give rise to the taxable supply recipient’s liability for unpaid VAT. It is always necessary to also prove that the taxpayer knew…
SAC: exchange of shares upon capital increase from own sources interrupts time test
The Supreme Administrative Court (SAC) has unambiguously concluded that the time test for exempting proceeds from the sale of securities from personal income tax is considered interrupted by an exchange of shares resulting from an increase in the…
Beneficial owner of interest and silent partnership
The Supreme Administrative Court dealt with beneficial ownership of interest in the context of the existence of a silent partnership agreement.
Germany: New transfer pricing guidelines
Transfer pricing is a hot issue at a time when all finance ministries are searching for funds to cover their exorbitant budget deficits. The German Ministry of Finance has issued new transfer pricing guidelines (Verwaltungsgrundsätze…
Cookies and marketing calls only with prior consent
From 1 January 2022, an amendment to the Electronic Communications Act will allow obtaining and processing cookies only with provable user consent. The requirement to obtain consent will not apply to technical cookies. Similarly, it will be possible…
Need more time to respond to tax authorities? Apply for deadline extension
Imagine a tax administrator's notice arrives in your data box. The deadline is insufficient, and you are rightly concerned that you will not be able to prepare your standpoint and collect the necessary documents in time. The Tax Procedure Code takes…
Implementation of DAC 7 in Czech legislation
DAC 7 introduces a new reporting obligation for operators of platforms – software allowing sellers and users to connect. The Ministry of Finance has prepared a bill to implement the directive, which is currently going through the comment procedure.…
Ministry of Industry and Trade completes OP TAC preparations
According to the Ministry of Industry and Trade, preparations for a new Operational Programme Technology and Application for Competitiveness (OP TAC) for the 2021–2027 programme period have been officially completed. The programme has already been…
SAC stands up for taxpayer over deducting costs of destroyed goods
The Supreme Administrative Court (SAC) upheld a taxpayer's cassation complaint in a dispute over the legitimacy of claiming costs/expenses for destroyed goods. According to the SAC, without informing the appellant the appellate body assessed the…