Taxes
Stricter criteria for granting investment incentives
Following discussions regarding the future of investment incentives, the government plans to use this important investment tool to respond to the actual needs and priorities of the Czech Republic and focus on projects with a higher added value. In…
2019 VAT Act amendment: Do you issue, distribute or accept vouchers? Will you know…
The final part of our VAT news tetralogy focuses on vouchers and related changes in tax calculation methods.
Services received – how to prove their tax deductibility?
Do you receive services from intracompany or external providers whose actual substance is uncertain or whose benefit for your company is doubtful? The tax authority may no longer regard the mere provision of such a service’s tax document as…
New double taxation treaty with Korea introducing substantial changes
In Seoul in January 2018, the Czech Republic and Korea signed a double taxation treaty, replacing a document from 1992 no longer meeting current tax and economic requirements. Among other things, the new treaty changes the taxation of paid dividends…
Research and development allowance revisited
Late in June 2018, the Council for Research, Development and Innovations adopted a proposal for measures aiming to eliminate companies’ uncertainties when claiming R&D allowances. The new conditions have been agreed on by a working group comprising…
2019 VAT amendment: Are limited liability company statutory representatives VAT…
In the third article on the most important changes in VAT effective from 2019, we provide answers to the above questions.
Another obstacle to posting of workers by Japanese investors gone
On 1 August 2018, a protocol amending the Social Security Agreement between the Czech Republic and Japan entered into force. This step will be most welcome by Japanese workers temporarily posted to key positions in the Czech Republic.
Omnibus passed – administration to resume for suspended payment requests
On 16 July 2018, the Council of the EU adopted an amended omnibus regulation that lays down the conditions for drawing support from EU funds. The omnibus promises an overall simplification of the system of support. It constitutes a positive step for…
Financial administration’s report for 2017: revenues have grown, mostly from VAT
In July, the Czech financial administration published a report on its activity for 2017: revenues have grown for both direct and indirect taxes. The main cause is the Czech economy’s faster growth and related higher spending by households and…
VAT on services connected with import and export of goods
In June, the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate (GFD) issued a statement on the VAT exemption of services directly connected with the import and export of goods. The information confirms the…
Last wave of subsidies for large enterprises?
A few of the last calls to participate in the Enterprise and Innovations for Competitiveness Operational Programme (OPEIC) were announced during the course of June, including favourite programmes such as Potential, Innovations and Applications.…
2019 amendment to VAT Act: other three important changes
A draft amendment to the VAT Act has been submitted to the Chamber of Deputies. Below we present three significant changes.