Taxes
How to deliver data messages with powers of attorney
Delivering messages to data boxes have been causing interpretation uncertainties since 2009 when data boxes were introduced in our legislation, in particular where the formal elements of documents delivered via data boxes are concerned. Both civil…
GFD provides clarification on reporting of sales received from carriers
Have you properly set contractual terms and conditions with your carriers? Do you know when and who is supposed to report sales with payment collection provided by carriers? Please note that for ERS purposes, not all carriers are the same! The…
Amendment significantly expands reporting duties towards tax authority
In mid-February, the Ministry of Finance submitted an amendment to the Tax Procedure Rules for an accelerated comment procedure. This amendment should ensure access to other information about taxable entities and their bank accounts to tax and other…
Clarification of VAT regime on re-sale of telecommunication services
The General Financial Directorate (GFD) decided to respond to frequent inquiries regarding the purchase and sale of electronic communication services and issued a clarifying appendix to its already-published information. The application of a…
Low-Carbon Technologies Programme: second call for applications
The Investment and Business Development Agency announced a second call for applications under the Low-Carbon Technologies Programme, aiming to support the competitiveness of businesses and the sustainability of the Czech economy through the…
Binding rulings now also on allocation of profits to permanent establishments
Thanks to the budget committee’s amending proposal, the above mentioned amendment to the Income Tax Act (Print No. 873) expands the applicability of binding rulings. These will now also apply to the method in which profits are allocated to a…
Deputies approve amendment to VAT Act
The chamber of deputies approved a government bill to amend certain tax laws, including the VAT Act and the Tax Procedure Rules. Amendments to both of these acts are to become effective on 1 April 2017. The summary of major changes in VAT focusing…
Expected income tax changes
A tax package, containing changes in income taxes, VAT and tax procedure rules, has passed its third reading in the chamber of deputies and is currently moving to the senate. The important changes to the Income Tax Act that have already been…
Amendments to tax laws at third reading
Amendments to tax laws (Print No. 873) will be subject to a third reading in the Chamber of Deputies, likely to occur after 10 January. The amendments should become effective on 1 April 2017. Discussions within the third reading will be quite…
GFD clarifies VAT regime upon resale of telecommunication services
Owing to a considerable degree of ambiguity primarily with respect to the resale of telecommunication services, the General Financial Directorate (GFD) decided to respond to frequent inquiries by publishing an appendix to the previously issued…
International tax information exchange extended
Another amendment to the Act on International Cooperation in Tax Administration is to introduce a new duty to share information about financial results, performed activities, staff numbers and many other indicators.
Ways to quicker excess VAT deduction refunds
Excess VAT deductions retained by tax administrators cause cash-flow problems to a large number of corporations. When claiming refunds of excess deductions amounting to millions of Czech crowns, taxpayers often have to wait a long time for the…