Tax & Legal Update
Coordination Committee: correction of tax base for bad debts – knowledge test
The Coordination Committee of the General Financial Directorate and the Chamber of Tax Advisors of the Czech Republic has finalised its discussion paper concerning the ‘knowledge test’, i.e. whether a creditor knew, should, or could have known at…
The GFD issues additional information on reporting under DAC 6
The General Financial Directorate (GFD) has published a list of questions and answers on the new obligation to report cross-border arrangements (DAC 6 reporting).
VAT on the lease of real estate
On 1 January 2021, a provision of the VAT Act restricting the option to tax leases of selected real estate entered into effect. At the end of 2020, the General Financial Directorate (GFD) issued information to ensure a better understanding of the…
New Year with the new Tax Procedure Code!
The amendment is relatively extensive, thus affecting the lives of all taxpayers. The main areas concern: the possibilities for using tax information mailboxes; changes in deadlines for filing tax returns; a revision of the sanction and penalty…
What’s new in tax for employers and employees in 2021?
The most crucial changes undoubtedly are the abolition of the super-gross wage and the solidarity tax surcharge and the introduction of progressive taxation using two rates, 15% and 23%, the second one applicable to income exceeding the set…
Customs procedure post-Brexit
Brexit is drawing unstoppably closer, even though the coronavirus pandemic seems to have upstaged it for now. Early next year, however, the UK's withdrawal will hit us with full force. Which is why British experts are trying to shed light on at…
Holdings: do failed investments and changes in use of inputs lead to correction of…
At the beginning of November, the Court of Justice of the European Union (CJEU) ruled in the case of a Portuguese holding company which intended to acquire another company, but the transaction did not ultimately materialise. The Court was dealing…
CJEU: Imports of goods from third countries without the right to deduct VAT?
In the case of Weindel Logistik Service (C-621/19), a company providing repacking services to its customers, the Court of Justice of the European Union (CJEU) confirmed the conclusions of the financial administration and denied the right to deduct…
Effects of Brexit on income tax in 2021
Although the United Kingdom already left the EU as of 31 January 2020, the transition period during which the United Kingdom is still viewed as an EU member state will end on the last day of 2020. It seems unlikely that the transition period will be…
Online fraud or: “misfortune a mouse click away”
Increasingly often, we’ve come across cases where clients have fallen victim to sophisticated online fraud. Since virtually anyone can potentially become a victim of social engineering, let this article be a warning of this dangerous phenomenon.
Last calls under OPEIC
The end of the programme period for the Operational Programme Enterprise and Innovation for Competitiveness (OPEIC) is approaching, but support may still be drawn. On 24 November 2020, the Ministry of Industry and Trade announced another call under…