News in Brief, August 2025

DOMESTIC BRIEFS

• The Ministry of Finance has issued Financial Bulletin No. 10/2025 with the following content:
  • Instruction GFD-D-29 on waiver of penalties for failure to file a VAT ledger statement.
  • Addendum No. 10 of the General Financial Directorate to Instruction GFD-D-29 on the waiver of penalties for failure to file a VAT ledger statement.
     
• The annual Report on the Activities of the Financial Administration of the Czech Republic and the Customs Administration of the Czech Republic was issued in July. It is available for download here.
   
• An amendment to the Act on Capital Market Undertakings (259/2025) and an act amending certain capital market laws in connection with the establishment and operation of the European Single Access Point (ESAP) (258/2025) have been published in the Collection of Laws.
   
• The Act on Cyber Security (264/2025) in effect from 1 November 2025 has been published in the Collection of Laws. At the same time, amendments to related laws have been promulgated (265/2025), as well as the Critical Infrastructure Act (266/2025).
   

INTERNATIONAL BRIEFS

• The European Commission has published a proposal for the European Union's own resources from 2028 onwards. In addition to revenue from ETS and CBAM, the EU plans to add the following new resources of revenue:
  • an annual lump-sum contribution from companies with an annual turnover of at least EUR 100 million
  • a contribution to the EU budget of EUR 2 for every kilogram of waste electrical and electronic equipment not recycled annually
  • a tobacco contribution of 15% of the revenue from the minimum rate of excise duty on manufactured tobacco and tobacco products released for consumption.
• Any decision on the EU’s own resources of revenue must be unanimously approved by all member states.
   
• The OECD has published a report for G20 finance ministers and central bank governors on recent developments in international tax reforms. More than 55 jurisdictions are introducing or planning to introduce an allocated or domestic top-up tax from 2024/2025. More than 10 other countries have taken concrete steps to implement it. The report refers to the G7 statement of 28 June 2025, which describes a common understanding of the US requirements for Pillar 2 rules (the side-by-side solution).
   
• The OECD is also working on a simplified calculation of the effective tax rate that could be included in the safe harbour system and would reduce administrative complexity.
   
• The KPMG EU Tax Center regularly monitors changes in direct taxes in the EU and internationally. Here you will find regular summaries of the latest news (e-news) and alerts on important events (tax flash) with the possibility to subscribe to them.