Taxes

Standard VAT rate confirmed for take-back of electrical equipment

The Coordination Committee of the General Financial Directorate (GFD) and the Chamber of Tax Advisors has concluded that the current practice of applying the standard VAT rate to the take-back of electrical equipment and related services shall…

Discount on social security contributions for part-time employees

From 1 February 2023, an amendment to the Act on Social Security and State Employment Policy Contributions will allow employers to apply a discount on insurance premiums for selected employees in part-time employment or service relationships. The…

New company car taxation rules in effect from July

The GFD has issued Information for Payers of Income Tax on Employment relating to the Amendment to the Income Tax Act effective from 1 July 2022, which concerns employee non-monetary income in form of the free-of-charge provision of a motor vehicle…

GFD releasing new information on reporting obligation under DAC 6

The General Financial Directorate (GFD) has published a new list of questions and answers on the obligation to report cross-border arrangements (reporting under DAC 6), which complements the December 2020 document and sheds new light on this…

Tax priorities of the Czech EU Presidency

During the Czech Presidency, the EU Council will have to deal with several tax regulations that are in various stages of preparation or approval.

Increase in VAT registration limit: main tax implications for entrepreneurs

The government has prepared tax changes aimed at simplifying tax obligations for entrepreneurs next year while also proposing to extend the extraordinary tax depreciation regime to 2022 and 2023.

VAT perspective on early termination of energy supplies

At a meeting of the Coordination Committee of the Chamber of Tax Advisors and the General Financial Directorate, the financial administration confirmed that compensation for the early termination of energy supplies or the failure to deliver an…

Development in administrative practice for fuel cards

The VAT treatment of fuel cards is a closely watched topic. Although the cards are frequently used by vehicle operators to refuel, the VAT Act does not offer any detailed guidance on the correct application of the tax: the VAT treatment of these…

Chamber of deputies temporarily reduces excise duty on diesel oil and petrol

To mitigate the effects of the energy crisis on fuel prices, the government has proposed an amendment to the Excise Duty Act, whereby the excise duties on diesel oil and unleaded petrol are to be temporarily reduced by CZK 1.50 per litre from 1 June…

Chamber of deputies partially abolishes road tax and supports electromobility

In response to high fuel prices, the chamber of deputies approved a government bill partly abolishing the road tax and granting tax advantages for the use of low-emission vehicles.

Transfer pricing on audit committee‘s agenda?

Transfer prices are part of the agenda of almost every medium-sized and large company. If the company is subject to audit, its audit committee should also be involved. Because of the implications that incorrectly-set transfer prices can have for the…

Leaseback: change in VAT treatment

Within the Coordination Committee of the Czech Chamber of Tax Advisors and the General Financial Directorate, the financial administration confirmed that they will start applying the Court of Justice of the European Union’s interpretation to…