Taxes
Brexit: customs and indirect taxes if Great Britain turns into a third country
The two-year deadline that started on the date Great Britain announced its intention to exit the EU will expire on 29 March 2019. If Britain and the EU do not agree on a specific transitory period by then, any and all primary and secondary EU laws…
Extended information duty towards tax administrators currently in the Senate
In early spring, the Chamber of Deputies approved an amendment to the Tax Procedure Code, expanding the information duty towards tax administrators from financial institutions to attorneys and tax advisors. A draft amendment and motions to amend the…
Changes in investment incentives
Investors will most likely have to deal with a new system of investment incentives from spring 2019, as significant amendments to legislation regulating investment incentives are under way.
More changes to ERS and VAT rates?
The Ministry of Finance released for external comments a draft amendment to the Act on Electronic Reporting of Sales and the VAT Act. The proposed effective date is 1 January 2019, excepting the provisions concerning the launch of the last phases of…
Fourth public tender under Epsilon programme announced
Through the Technology Agency of the Czech Republic (TACR), businesses may apply for support to applied research and experimental development under the Epsilon programme. On 28 February 2018, the fourth public tender was announced, focusing on…
Information duty towards tax administrators extended again
Right after New Year’s Day, the government submitted to the Chamber of Deputies an amendment to the Tax Procedure Code, significantly expanding the extent of information that the tax authority may request from third parties. The extended information…
Changes in VAT Act expected in 2019
The Ministry of Finance has submitted a draft amendment to the VAT Act with planned effectiveness from January 2019 for external comments. The amendment aims to comply with the duty to transpose new EU regulations into our legislation and to…
Changes to Income Tax Act in 2019
Taxpayers are up for major changes starting from 2019. At least according to the first draft of the amendment to the Income Tax Act, released by the Ministry of Finance for external comments. The concept of taxation of individuals is to change…
Opportunity to obtain aid from public resources in 2018
Numerous businesses use various forms of public support to finance their investments. New financing opportunities for 2018 have already been announced or are currently under preparation. Utilised most commonly are investment incentives, subsidies…
VAT not to be included in acquirer’s immovable property acquisition tax base
VAT will not be included in the immovable property acquisition tax base even if the person liable to this tax is the acquirer. Based on this, persons liable to immovable property acquisition tax may file additional tax returns and claim part of the…
Amendments to GFD’s information effective from January
The General Financial Directorate (GFD) announced that the existing approach to the waiver of penalties for the failure to file VAT ledger statements will also be applied in 2018 and that the unreliable payer concept criteria will be extended…
ERS changed and its further fate questioned
Those of you getting ready to join the ERS regime should pay attention: in the middle of last December, the Constitutional Court cancelled some provisions of the Act on the Electronic Reporting of Sales. This judgement will also affect some who are…