Tax & Legal Update
Financial administration again answers questions about changes to tax depreciation
Even after months of the Income Tax Act’s amendment’s validity, the retroactive effect of the changes to tax depreciation has still not been fully clarified. For the third time, the financial administration has again updated the Q&A file on its…
GFD explains new meal allowance rules
From 1 January 2021, employers may use a new form of meal contribution under the amendment to the Income Tax Act: the monetary meal allowance. The General Financial Directorate (GFD) issued information that answers some of the questions raised by…
VAT refunds post-Brexit
The General Financial Directorate has issued information on VAT refunds to UK entities after Brexit.
Summary of e-commerce changes (2021 VAT amendment)
From 1 July 2021, significant changes in VAT on the cross-border sale of goods over the internet enter into effect, concerning both sales within the EU and imports from third countries. The place of taxation will be the country of the recipient,…
COVID-19 vaccinations for employees posted abroad
Vaccinations against COVID-19 are in full swing in the Czech Republic. Currently, 30-year-olds may register to get their shots; from June, registration should open for all persons over the age of 16. This means that virtually the entire productive…
Consular fees payable by card at 76 more embassies
Since March of last year, the Ministry of Foreign Affairs of the CR has been testing a non-cash payments project at selected embassies. During the testing period, it was possible to pay consular fees at these embassies not only in cash, by bank…
New EU rules on state aid
At the end of April, the European Commission adopted new rules on regional aid to enter into effect on 1 January 2022. The new rules bring significant changes, in particular for applicants for investment incentives, as they also concern the Czech…
Tax deductibility of interest on acquisition loans in intragroup restructuring
The Municipal Court in Prague agreed with the tax administrator challenging the tax-deductibility of interest on an acquisition loan in an ‘intragroup’ restructuring.
CJEU on fuel cards once again
The Court of Justice of the European Union (CJEU) denied the right to deduct VAT on fuel to a taxable person who provided fuel cards to transport companies; the CJEU thus confirmed the conclusions formulated in judgment C-235/18 Vega International.
Country-by-Country Reporting data publicly available?
Country-by-Country Reporting (CbCR) is one of the pieces of the puzzle that provides a view of a multinational corporation’s transfer prices. Rather than looking at individual entities, CbCR, fairly truthfully depicts how the group operates in…
Ban on dual food quality and other novelties in sales regulation
Effective 12 May 2021, the amendment to the Food and Tobacco Products Act responds to legislative changes at the EU level. In particular, it prohibits the marketing of dual-quality food and introduces stricter traceability of tobacco products. It…