News in brief, June 2021

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

DOMESTIC NEWS IN BRIEF

  • Until the end of June 2021, the government has extended the part of the Antivirus programme concerning employers whose employees are ordered into quarantine or isolation.
  • The Chamber of Deputies has confirmed the original wording of an amendment to the Act on the Czech National Bank, aiming to allow the central bank to respond on time and when necessary to macroeconomic risks arising on the real estate and mortgage markets and possibly violating financial stability.
  • The financial administration has disclosed information about the results of its inspections of transfer pricing in 2020. A total of 249 inspections were performed, resulting in additionally assessed income tax of CZK 1.4 billion and an increase in the tax base of CZK 7.9 billion. Between 2014-2020, the financial administration carried out 2,431 inspections, resulting in additionally assessed tax of CZK 4.5 billion and an increase in the tax base of CZK 46.9 billion.
  • The Ministry of Labour and Social Affairs has submitted a pension reform proposal to the government. The ministry claims that the reform enjoys support across political parties, at the OECD level, from domestic experts and pro-senior organisations. The proposal follows three basic priorities: fairness, clarity and sustainability.
  • An amendment to the Act on Employment, regulating the Kurzarbeit mechanism, has been approved by the deputies and is now heading to the Senate. It should help in time of crisis when employees cannot be allocated work for objective reasons. In such a case, the state will partly compensate employers for wage compensations paid by them to their employees. The amendment aims to help overcome such crises while maintaining jobs.

 

FOREIGN NEWS IN BRIEF

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