VAT perspective on early termination of energy supplies

At a meeting of the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate, the financial administration confirmed that compensation for the early termination of energy supplies or the failure to deliver an…

Increase in VAT registration limit: main tax implications for entrepreneurs

The government has prepared tax changes aimed at simplifying tax obligations for entrepreneurs next year while also proposing to extend the extraordinary tax depreciation regime to 2022 and 2023.

Chamber of deputies temporarily reduces excise duty on diesel oil and petrol

To mitigate the effects of the energy crisis on fuel prices, the government has proposed an amendment to the Excise Duty Act, whereby the excise duties on diesel oil and unleaded petrol are to be temporarily reduced by CZK 1.50 per litre from 1 June…

Chamber of deputies partially abolishes road tax and supports electromobility

In response to high fuel prices, the chamber of deputies approved a government bill partly abolishing the road tax and granting tax advantages for the use of low-emission vehicles.

Transfer pricing on audit committee‘s agenda?

Transfer prices are part of the agenda of almost every medium-sized and large company. If the company is subject to audit, its audit committee should also be involved. Because of the implications that incorrectly-set transfer prices can have for the…

Development in administrative practice for fuel cards

The VAT treatment of fuel cards is a closely watched topic. Although the cards are frequently used by vehicle operators to refuel, the VAT Act does not offer any detailed guidance on the correct application of the tax: the VAT treatment of these…

Leaseback: change in VAT treatment

Within the Coordination Committee of the Czech Chamber of Tax Advisors and the General Financial Directorate, the financial administration confirmed that they will start applying the Court of Justice of the European Union’s interpretation to…

Upcoming tax changes: an overview

The new government and chamber of deputies have begun another four-year legislative cycle in which they will try to push through their agenda. The implementation of several EU directives may bring about important changes, especially in direct taxes.…

Coordination Committee: How to determine VAT treatment of superficies payments upon…

The Coordination Committee of the General Financial Directorate and the Chamber of Tax Advisors concluded that the VAT treatment of superficies payments paid on a recurring (e.g., monthly) basis, does not change over time.

Changes in VAT rate on supply of medical devices

The amendment to the VAT Act in effect from 1 January 2022 narrows the scope of medical devices subject to the reduced VAT rate. If you buy or sell medical devices, we recommend you check whether this amendment also applies to your goods.

Economic turmoil also affecting transfer prices

Inflation is one of the main economic issues for 2022. The impact of high input prices and disrupted supply chains are other factors businesses must cope with. But there are also other adverse factors. The slowing economy has also revealed new…

What’s new in tax for employees in 2022?

With the new year come changes in the taxation of employees and social security and health insurance contributions. The basic tax relief per taxpayer has increased and the limit from which wages are taxed at 23% under progressive income taxation has…