Taxes
Amendment to VAT Act clarifies VAT ledger statement requirements
The Chamber of Deputies of the Czech Republic passed an amendment to the VAT Act in response to the Constitutional Court’s ruling, according to which, within VAT ledger statements, the financial administration may not request from taxpayers data not…
New reporting duty for entities that are part of multinational groups
A long-awaited amendment to the Act on International Cooperation implementing a new information exchange duty, i.e. country-by-country reporting, into Czech legislation was published in the Collection of Laws on 19 September 2017.
Fast-growing number of unreliable payers
The unreliable payer concept has been in the VAT Act since 2013. According to the GFD, in combination with the taxable supply recipient’s liability for unpaid VAT, this concept should serve as an effective tool to fight VAT evasion, whereas the…
VAT Act amendment lets tax administrators cancel VAT group registrations earlier
The amendment to the VAT Act effective from 1 July 2017 accelerates the process of terminating VAT group registrations. Where the registration is terminated ex officio, the registration terminates at the moment the tax administrator’s decision…
Not only personal income tax under Supreme Audit Office’s scrutiny
From June 2016 to this spring, the Supreme Audit Office (SAO) examined personal income tax administration and its examination outcomes do not spare the financial administration from criticism. In its report, the SAO estimates how much the…
SAC on direct link between non-deductible expenses and taxable revenues
The Supreme Administrative Court (SAC) issued a ground-breaking ruling relating to problematic Section 24 (2)(zc) of the Income Tax Act effective until the end of 2014, giving the opportunity to reassess the treatment of non-deductible expenses with…
Public call for the energy sector’s THETA programme to be announced in autumn
In autumn, the Technology Agency of the Czech Republic will announce the first public call for participation in the THETA programme, aiming to support applied research, experimental development and innovation in the energy sector. The programme is…
Three changes to employee taxation
Tax exemption of employee benefits expanded. New deductible item for bone marrow donation. Further increase in minimum wage in 2018.
Stats and facts about the tax administration’s 2016 activities
The Czech financial administration has recently released a report on its activities for 2016. It states that tax revenues grew by nearly ten percent year-on-year, thanks to the tax administrators’ increased activities in the inspection area. At the…
GFD issues information on the amendment to the VAT Act and instructions on how to…
In connection with the approved amendment to the VAT Act effective from 1 July 2017, the General Financial Directorate (GFD) issues information on areas subject to the amendment and amends instructions on how to complete VAT ledger statements.
Enterprise and Innovations for Competitiveness Operational Programme in full swing…
This summer, businesses may apply for support from the Enterprise and Innovations for Competitiveness Operational Programme (OPEIC). What are the programme’s news? What calls will be open for large enterprises as well?
Country-by-country reporting – changes on the horizon
At the last session of the Chamber of Deputies of the Czech Republic, further progress was achieved in passing the amendment to the Act on International Cooperation. The Act implements a new information exchange duty, i.e. country-by-country…