In brief
16 February 2018

Latest news - February 2018

Last month’s tax and legal news in a few sentences.

Lenka Fialková
  • According to information disclosed on the financial administration’s website, entrepreneurs and lessors claiming expenses as a fixed percentage of income whose tax base from business or lease (or the sum of both) exceeds one half of the total tax base have the opportunity to choose the more advantageous option for them of the two when preparing their personal income tax return for the 2017 taxable period.
  • The Chamber of Notaries approved an opinion of interpretation, according to which notaries may not accept as a supporting document for notarial activities a deed with an authenticated signature (typically, a power of attorney) consisting of more than one sheet unless these sheets are fixed together with a seal and a stamp of the body performing the authentication. In connection with this, it is necessary to be aware of the incorrect interpretation of the Act on Authentication, leading local authorities and the Czech mail service (Česká pošta) to bind individual sheets of a deed subject to authentication only upon request.
  • The Ministry of Justice disclosed information about a special website on which forms for recording trusts and beneficial owners into new evidence are available.
  • The statistics for 2017 confirm an increased number of inspections and sanctions imposed by the State Labour Inspection Office for wrongdoings under agency employment regulations.
  • On its website, the European Commission published the tax and customs implications of Brexit. Great Britain will turn into a third country for EU member states on 30 March 2019, 00:00 (CET) unless a different date is set in a ratification contract. Preparing for Brexit in terms of taxes and customs is a task for member states and their offices as well as for corporations and individuals doing business with Great Britain.
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