Taxes

News on double taxation treaty with Russia

On 8 August 2023, Russia discontinued the application of key articles of its double taxation treaty with the Czech Republic and other 37 countries. In the Czech Republic, this suspension has been legally effective from 29 September 2023. The…

Adjustments to top-up taxes: what will forthcoming amendment change?

The Ministry of Finance has published a draft amendment to the Act on Top-Up Taxes, which incorporates the rules contained in the OECD’s documents. In addition to many legislative changes and additions in the area of safe harbours, the draft changes…

Changes in income taxes resulting from amendment to ICIF Act

The Chamber of Deputies of the Czech Parliament has passed an amendment to the Investment Companies and Investment Funds (ICIF) Act. It includes a technical amendment to the Income Tax Act that responds to changes in the ICIF Act and introduces…

Technical amendment to consolidation package approved by chamber of deputies

During the discussion of an amendment to the Act on Investment Companies (Print 570), the chamber of deputies approved proposals to amend the Income Tax Act and other laws amended at the end of 2023 within the consolidation package. The proposals…

Details of 2025 amendment to VAT Act - Part II

Below, we continue with an overview of the most important changes brought by the draft amendment to the Value Added Tax Act, this time focusing on the construction sector, in particular on changes in definitions, alterations in conditions for the…

Technical amendment to consolidation package on horizon

As part of the second reading of an amendment to the Act on Investment Companies (Print 570), the coalition deputies have submitted proposals to amend the Income Tax Act and other laws amended at the end of 2023 within the consolidation package,…

Details of 2025 amendment to VAT Act - Part I

The draft amendment to the Value Added Tax Act, currently in the external comment procedure, introduces extensive changes as it transposes EU directives and responds to CJEU rulings and practical experience. Below we present the first part of these…

Amendment to VAT Act to narrow scope of exempt financial activities

The Ministry of Finance is proposing to significantly narrow the scope of financial activities exempt from VAT in a forthcoming amendment to the VAT Act. The aim is to align the Czech VAT Act with the EU Directive and the interpretations of the…

ViDA - digital reporting and e-invoicing still music of the future

The proposal for a VAT in the Digital Age (ViDA) Directive that would modernise and advance the EU’s single VAT system is running behind schedule. The proposal did not move forward during the Spanish Presidency of the Council of the EU, but in the…

Tax labyrinth of employee benefits - most discussed topics

Below, we summarise the problematic areas discussed during our January seminar focused on employee benefits and meals from 1 January 2024. Most questions were related to topics causing difficulties for employers in practice.

How to apply VAT on selected passenger cars in 2024?

In mid-January, the General Financial Directorate (GFD) issued two information pieces on the practical application of changes to VAT from 2024. In this article, we focus on the Information on the VAT Deduction for Passenger Cars with a Purchase…

Practical information on changes to VAT rates

In mid-January, the General Financial Directorate (GFD) issued two pieces of information on the practical application of changes to VAT from 2024. In this article, we focus on the Information on VAT Rate Changes. Another piece, the GDF’s Information…