Taxes
Top six tax news items for employers and employees in 2017
Higher tax reliefs relating to both employer and employee contributions to employees’ supplementary pension insurance and life assurance schemes are already a given. Another increase in tax credits for dependent children is yet to be approved. Below…
How to correctly treat research and development?
A recent decision of the Supreme Administrative Court regarding a research and development expenditure deduction again emphasised the importance of expert opinions in cases of doubt. During inspections the tax authority must take into account the…
Where to, income tax?
Discussions regarding a new long-awaited Income Tax Act have again been growing in intensity. In a recently published document the Ministry of Finance reveals some of its first intentions and concepts.
GFD’s information on reverse-charge application on telecommunication services: some…
The reverse-charge regime has been applied to selected electronic communication services since 1 October 2016. The General Financial Directorate (the "GFD") has published information that should have clarified reverse-charge application conditions.…
New calls under the ICT and Shared Services programme
At the end of October, first calls within the long-awaited second call under the Enterprise and Innovations for Competitiveness Operational Programme (OP EIC) were finally announced. In addition to calls designed for small and medium-size businesses…
OP EIC - changes in the second call
An up-to-date timetable of calls for applications under the Enterprise and Innovations for Competitiveness Operational Programme (OP EIC) was disclosed on 21 September 2016. Below we summarise some of the changes made to the original timetable.
EU harmonisation of voucher taxation
A new EU directive regulating vouchers was adopted in June. It aims to harmonise rules for the application of VAT on transactions with vouchers in the EU and eliminate the double taxation or non-taxation of these transactions. The new rules will be…
Dealing with the biggest pain of VAT inspections
For a long time, during VAT inspections, honest businesses have mostly feared failing to prove the receipt of supplies from an uncontactable supplier or their supplier’s involvement in VAT fraud without the recipient’s knowledge. A recent Supreme…
Deputies discuss amendment to VAT Act
An amendment to the VAT Act, planned to be in effect from 1 January 2017, is now discussed in its first reading at the chamber of deputies. Its original wording has changed slightly during the external comment procedure.
Starting in December: Proving the origin of assets
An act on proving the origin of assets has passed through the legislative process (321/2016 Coll.) The Senate made the original proposal even stricter by lowering the threshold for proving the origin of income to CZK 5 million. The Chamber of Tax…
Second call for the TRIO programme
In early October, the Ministry of Industry and Trade announced a second call for participation in the TRIO programme, designed to support projects focusing on industrial research and experimental development relating to key technologies. Companies…