Taxes
What’s new in tax for employees in 2023?
With the new year come changes in employee taxation as well as social security and health insurance. The maximum assessment base for social security contributions has increased and the limit from which wages are taxed at 23% has been raised. Many…
Levy on surplus market revenues of electricity producers
In November, an amendment to the Energy Act passed through the legislative process at record speed, introducing a levy on surplus market revenues for most electricity producers and implementing part of EU Council Regulation 2022/1854 of 6 October…
Changes in mandatory establishment of databoxes
The mandatory establishment of data boxes for all natural persons will most likely be abolished. The legislative amendment introducing the mandatory establishment of data boxes from 1 January 2023, which is already valid but not yet in effect, will…
Fuel card market to change significantly?
The application of VAT on fuel cards is a much debated topic among the professional public, mainly due to the lack of relevant legislation. The EC's VAT Committee has issued a working paper which rather surprisingly does not entirely conform to the…
Deputies pass windfall tax
The chamber of deputies today have approved the introduction of a tax on windfall profits for 2023 to 2025, in the form of a bill submitted by the Minister of Finance. All amending proposals were withdrawn or rejected.
Windfall tax’s final stages: bill to be debated in Parliament
Parliamentary deputies are currently discussing the proposal to introduce a tax on windfall profits (windfall tax) for selected taxpayers in the fossil fuel and energy sectors and for banks. The tax should apply between 2023 and 2025. Excess profits…
Amendment to VAT Act to increase limit for compulsory VAT registration
The limit for compulsory VAT registration should increase from CZK 1 million to CZK 2 million from 1 January 2023. This should particularly help small businesses adversely affected by the COVID-19 pandemic. The draft amendment contains other changes…
Excise duties: EMCS system extended
An amendment to the Excise Duty Act implementing Council Directive (EU) 2020/262 enters into effect partly in October 2022 and fully from 13 February 2023. The directive aims to enhance harmonisation across member states, clarify the terms used, and…
Coordination Committee – treatment of donations to Ukraine remains unclear
In response to the war, the government promptly came up with an act on tax measures in connection with the armed conflict in the territory of Ukraine caused by the invasion of the troops of the Russian federation, setting the conditions for the tax…
Extraordinary measures to mitigate high energy prices
The EU Council has approved the Regulation on an Emergency Intervention to Address High Energy Prices. In addition to a binding target to reduce electricity consumption during peak times by at least 5%, it introduces two new resources for national…
Windfall tax outlined
The government has released a working paper on extraordinary profits tax (windfall tax) that it used in its negotiations with the National Economic Council of the Government (NERV). The finance ministry will now use the document as a basis for…
Austerity tariffs for gas and electricity – what about VAT?
The austerity tariff for households that the government has prepared in response to skyrocketing energy prices will be reflected in legislation as an amendment to the Energy Act. Details on the provision of a contribution for energy payments are set…