Taxes
New government programmes for migration of foreign workers
Starting in September 2019 and in connection with changes to the Act on Residence of Foreign Nationals in the CR, government programmes facilitating the hiring of foreign workers have also been under revision. The most crucial change is the…
Subsidies for large businesses after 2020
In the 2021-2027 period, the Competitiveness Operational Programme (COP) will follow up upon the Enterprise and Innovations for Competitiveness Operational Programme (EIC OP), managed by the Ministry of Industry and Trade. The programme will…
Quick fixes: consignment stock arrangements from January 2020?
The amendment to the VAT Act implementing quick fixes will not be effective from 1 January 2020, since the Chamber of Deputies is yet to discuss it even in its first reading. So how should Czech VAT payers involved in the intra-community supply and…
Government approves digital services tax
The government submitted a bill introducing a 7% digital services tax to the Chamber of Deputies. The tax will apply to companies that are part of corporate groups generating a turnover of more than EUR 750 million and with a tax base relating to…
Amendment to VAT Act for 2020 (quick fixes): new developments in Brussels
The European Commission has published extensive draft explanatory notes on quick fixes. These include examples of how to declare changes in customers or refunds of goods within consignment (call-off) stocks in EC Sales Lists and new stock records,…
Rounding after amendment to VAT Act
The financial administration published information intended to solve the long-standing uncertainty regarding the correct calculation and subsequent rounding of VAT. The new rounding rules have been approved via the last amendment to the VAT Act, in…
Update on amendment to VAT Act for 2020 (quick fixes)
An extensive amendment to the VAT Act for 2020 (quick fixes), aiming to harmonise the VAT regime applicable to intra-community supplies of goods, has been submitted to the Chamber of Deputies. It implements the EU legislation and, therefore, within…
Amendment to electronic reporting of sales and 10% VAT on food services and e-books
At the end of September, the president signed an amendment to the Act on the Electronic Reporting of Sales (ERS), based on which the remaining businesses and entrepreneurs so far omitted from the obligation will be subject to the mandatory…
New calls to participate in EIC OP also available for large businesses
September has brought new calls to participate in the Enterprise and Innovations for Competitiveness Operational Programme (EIC OP), consisting of the Potential, Innovation, and Application Programmes. Subsidies will also be available for large…
Clearer outline of tax on selected digital services
The Ministry of Finance has prepared a digital service tax bill, proposing a tax rate of 7% on selected digital services. Entities liable to this tax will be companies included in corporate groups having a worldwide turnover of more than EUR 750…
Cross-border transaction reporting duty is heading to Chamber of Deputies
An amendment to tax legislation for 2020, also covering the implementation of DAC 6, is heading to the Chamber of Deputies. It introduces a new information duty regarding cross-border arrangements. The latest draft amendment includes new changes…
Quick fix revolution at hand. What will affect companies the most?
In a couple of months, intra-community supplies will undergo radical changes to the VAT regime, probably the most significant ones in recent history. The mechanism of applying VAT on consignment (call-off) stock arrangements will change entirely:…