Tax & Legal Update
Providing financial services from the UK post-Brexit
The end of the Brexit transition period has had a huge impact on UK companies providing any kind of financial services. From 1 January 2021, it is no longer possible to enjoy the benefits of the freedom of establishment and freedom to provide…
Brexit: Protocol on UK-EU social security coordination
After endless negotiations between the UK and the EU, a deal was struck at the turn of 2020, avoiding a hard Brexit. Among other things, the EU-UK Trade and Cooperation Agreement makes it possible to continue applying some EU social security rules…
One step closer to interconnecting commercial registers within EU
The harmonisation of EU law regarding the use of digital tools and processes in corporate law has taken on a concrete form: an amendment to the Act on Public Registers, implementing a part of the changes prescribed by the EU directive into Czech law…
Changes to Qualified Employee relocation programme
As of 1 January 2021, both the minimum wage and the lowest guaranteed wage level have increased. This affects, among other things, one of the programmes for the economic migration of foreigners – the Qualified Employee programme. And this is not the…
Compensation for work accidents in light of amendment to Labour Code
Effective 1 January 2021, an amendment to the Labour Code changed the rules of compensation for accidents at work and occupational diseases, introducing a one-time compensation to close persons for non-material damage in the event of particularly…
OP EIC: deadlines prolonged and funds for allocation increased
The deadlines for submitting applications to participate in certain programmes under the Operational Programme Enterprise and Innovations for Competitiveness (OP EIC) have been extended. Moreover, funds for allocation within the Innovation programme…
When does entitlement to VAT deduction arise on provision of export insurance?
The Coordination Committee of the General Financial Directorate and the Chamber of Tax Advisors have discussed the entitlement to VAT deduction on insurance provided in connection with the export of goods to a third country. A few situations that…
Amendment to VAT Act for 2021: Simplification not only for e-shops?
Are you offering your goods via e-shops? Shipping low-value consignments directly to end users also from countries outside the EU? Organising training seminars, concerts, trade fairs or sports events across the EU? Be on the alert and prepare…
OECD guidance on the transfer pricing implications of the COVID-19 pandemic
The unique economic conditions arising from COVID-19 and government responses to it have resulted in challenges for the application of the arm’s length principle. To enhance tax certainty in the face of such challenges, the Organisation for Economic…
Old/new programmes to support employers at the time of the pandemic
At the turn of December and January, the government approved a series of compensatory measures with a total value of CZK 10 billion. Some compensatory measures are brand new; other represent only extensions of existing ones. Below we summarise those…
Another tax liberation package waives default interest on selected taxes and some…
The Ministry of Finance is waiving default interest on VAT and road tax for entities in selected sectors of industry, and default interest and interest on deferred tax amount where the deferment of tax payment or payment of tax in instalments was…