Taxes
Tax priorities of the Czech EU Presidency
During the Czech Presidency, the EU Council will have to deal with several tax regulations that are in various stages of preparation or approval.
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.
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…
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…
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…
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…
Donations to Ukraine: Does VAT obligation arise?
The General Financial Directorate has issued summary information on VAT implications of making donations to support Ukraine. While for income tax, Czech laws can be amended to respond flexibly, the situation is rather more complicated for VAT, as…
Income tax view on 2022 donations to Ukraine
In connection with the armed conflict in Ukraine, the Ministry of Finance has prepared a bill on tax measures, indirectly amending the Income Tax Act and extending tax support for taxpayers' charitable activities.
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.