Taxes
COVID-19 and transfer pricing
While liberation packages may mitigate the immediate effects of the COVID 19 pandemic on businesses’ financial performance, sooner or later, enterprises that are part of multinational chains (MNEs) will have to deal with the crisis’ consequences for…
OPEIC: Last wave of calls includes large entities
The Ministry of Industry and Trade (MIT) has published an updated schedule of calls to participate in the Enterprise and Innovations for Competitiveness Operational Programme (OPEIC) for 2020. These will be the last calls within the current…
GFD on VAT rates from May 2020
VAT rates applicable to selected products and services will change in connection with an amendment to the Act on the Electronic Reporting of Sales. Most changes, such as the inclusion of water and sewer services or hairdresser’s and barber’s…
Amendment to Income Tax Act for 2021 - new taxation of bonds and monetary…
The Ministry of Finance has submitted for external comments an amendment concerning income tax. From 2021, the amendment should change the taxation of bonds, reduce the administrative burden associated with the reporting of tax-exempt income paid to…
Approval of financial statements of joint-stock companies and limited liability…
Under the current circumstances, when the right to assemble has been restricted due to the spread of COVID-19, it remains to be discussed how corporations should fulfil their corporate duties, especially in connection with holding general meetings.…
New calls in the fight against COVID-19
On 2 April 2020, the Ministry of Industry and Trade (MIT) announced new calls to participate in The Country for the Future and Czech Rise Up Programmes, focusing on support to fight COVID-19.
Ministry of Finance to abolish immovable property acquisition tax
The Ministry of Finance has announced its intention to abolish the tax on immovable property acquisitions and at the same time cancel tax deductions for new mortgages.
No penalty for late payment of health insurance premium by employers for employees
Pursuant to an amendment to the Act on Public Health Insurance, until 21 September 2020, no penalties will be imposed for the late payment of health insurance premiums for employees for the period from March to August 2020.
Compensation bonus for the self-employed and notice on exempted income
The government has approved a bill on a compensation bonus payable to self-employed people in connection with emergency coronavirus measures. The bill has yet to be enacted by the Parliament and signed by the President. This, however, can be…
Tax liberation packages – practical recommendations
Keeping track of all tax-related measures published so far in connection with the coronavirus pandemic might be quite difficult. To help, below we are providing you with practical recommendations sorted by individual tax areas.
COVID-19: Tax Liberation Package II
On 24 March 2020, the Ministry of Finance published Financial Bulletin 5/2020, specifying other measures to mitigate the impact of the COVID-19 pandemic (Tax Liberation Package II). Measures that must be in form of laws have already been or will be…
Chamber of deputies acting under a state of legislative emergency
On 1 March 2020, a state of emergency was declared for 30 days. Along with other measures, the chamber of deputies approved the suspension of the electronic reporting of sales (ERS), deferments/waivers of social security and health insurance…