Taxes
Tax package 2019 – Senate propose changes
What is the stage of the 2019 tax package in the legislative process? Late in January, the Senate returned the bill to the Chamber of Deputies with amending proposals. Below, we summarise the most important ones.
Transfer prices and audits of financial statements
The beginning of each calendar year traditionally entails intensive work on audits of financial statements. Among multinational corporations in particular, accounting issues are very often closely connected to an audited entity’s cooperation with…
Do you use a coefficient to reduce VAT deduction entitlement? Watch out for…
A contribution submitted at the January meeting of the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate was meant to harmonise the practical approach to tax amount corrections by payers who apply…
Customs administration on trading after Brexit
On its website, the customs administration (i.e. the General Customs Directorate or GCD) has issued information on the practical aspects of trading after a no-deal Brexit.
Chamber of Deputies passes tax package – highlights
Just before the holidays, the Chamber of Deputies passed the so-called tax package (Print No. 206). The draft amendment still needs to be discussed by the Senate in January. Below, we draw attention to some changes in personal income tax and VAT.
Changes to R&D allowances already in legislative process
A working group consisting of representatives of business federations and associations, the Ministry of Finance and the General Financial Directorate has agreed on changes to the R&D allowance. These have recently been passed as part of the tax…
How not to turn a mole hill into a (tax) mountain
Did you buy, sell or acquire real property in 2018? Did you make changes to the real property or in the Real Estate Cadastre in 2018? Take care when filing your real property tax return, since even a small tax amount can get very expensive!
GFD: Assessing transfer prices and determining a permanent establishment’s tax base,…
In November, the General Financial Directorate published new Instruction D – 32, dealing with a binding assessment of the manner in which the price agreed between related parties and the tax base of a tax non-resident relating to activities…
Subsidy opportunities for entrepreneurs in 2019
The time schedules for calls planned in 2019 within subsidy programmes have been published. Below we provide a short overview.
2019 amendment to the VAT Act: What changes may the amending proposals bring?
An amendment to the VAT Act, with planned effectiveness during the course of 2019, has recently passed through the second reading in the Chamber of Deputies. Below we present a number of submitted amending proposals.
Seven tax news items for employers and employees in 2019
The maximum assessment base for social insurance and the minimum wage will increase, which will also affect other mandatory payments and tax credits. The waiting period, i.e. the first three days of a temporary inability to work during which…
Ministry of Finance prepares legal tool regulating tax relations with Taiwan
For an external comment procedure, the Ministry of Finance has submitted a bill to prevent double taxation in relation to Taiwan. As the Czech Republic does not recognise Taiwan as an independent state, it is not possible to enter into a double…