Taxes

MLI: Czech Republic choses minimum standard approach

Mid May this year, the government approved a proposal to enter into the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. Less than a month before the official signing, the Czech Republic…

Not only (one-crown) bonds under the financial administration’s scrutiny

In past weeks, the financial administration commenced blanket investigations in the financing area, primarily focusing on entities that issued one-crown bonds before 2013. And its coordinated investigation procedures are not only limited to…

New investment incentives?

Proposed changes to investment incentives are currently being discussed in the Czech Republic. Investment incentives are mostly appreciated by investors operating in manufacturing as they provide them with tax holidays for the expansion of existing…

New Income Tax Act: what to expect?

A new Income Tax Act has been the declared priority of the Ministry of Finance for a long time. Based on information behind the scenes, the wording of the new law arranged according to sections is currently under preparation and should be ready for…

When will Income Tax Act amendment become effective?

An amendment to the Income Tax Act, already signed by the president, is set to come into effect on the fifteenth day of its publication in the Collection of Laws. According to unofficial sources from the Ministry of Finance, the publication will be…

Transfer pricing: financial administration’s number one hit

For the last five years, transfer pricing issues have undoubtedly attracted a lot of attention from the financial administration.

Increasingly restrictive measures to secure tax collection

The tax authorities have recently adopted increasingly restrictive measures to collect as much tax as possible. One of these measures is the extended application of securing orders and their subsequent enforcement within a very short time. This,…

Change in VAT relating to the realisation of security

Already signed by the president, an amendment to the VAT Act introduces a considerable change for banks and other VAT payers who secure the future payment of their receivables with movable and immovable property. According to the new amendment,…

Subsidies: also available for large enterprises?

In the second half of April, the Investment and Business Development Agency ceased to accept applications for support under the Potential and Innovation Programmes, falling under the Enterprise and Innovations for Competitiveness Operational…

What will country-by-country reporting bring in practice?

The proposed amendment to the Act on International Cooperation requires multinational groups with an annual consolidated turnover exceeding EUR 750 million to prepare a country-by-country report. The amendment is currently on the agenda of the next…

With tax package approved, GFD preparing draft information on amendment to VAT Act

The chamber of deputies has approved a tax package referred back to the chamber by the senate in its original “chamber” wording. In particular, the senate’s motions to amend VAT on real property were dismissed by deputies. Even though the effective…

MF issues discussion paper on ATAD implementation

The Ministry of Finance released a discussion paper on the implementation of the EU Anti-Tax Avoidance Directive (ATAD) into Czech law. It mainly focuses on new interest deduction limitation rules, exit taxation, controlled foreign company rules and…