Taxes
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…
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…
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?
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.
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…
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…
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…
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…
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…
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,…
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,…
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.