Tax & Legal Update
Sale and exchange of crypto-assets: proposed exemption from personal income tax
The chamber of deputies is currently discussing a bill amending certain laws in connection with the implementation of EU regulations on the digitisation of the financial market and sustainability financing (Print 694). During the second reading, a…
Forms of R&D support available in the Czech Republic
Research and development (R&D) are key factors for economic growth and competitiveness. In the Czech Republic, support for R&D is one of the objectives of its subsidy policy that aims to foster innovation and technological progress. Support is…
Procedural options for flood-affected taxpayers
All tax relief options contained in the Czech Financial Administration’s notice in response to the recent flooding have been summarised in a recent article. In this issue, we thus focus on the procedural options open to taxpayers affected by this…
New rules for fleet insurance and its intermediaries
Responding to the judgment of the Court of Justice of the European Union (CJEU) in case C-633/20 TC Medical Air Ambulance Agency, which dealt with the interpretation of the term ‘insurance mediation,’ the Czech Chamber of Deputies is currently…
pCbCR: administrative burden or shift towards tax transparency?
Public country-by-country reporting is another of a range of obligations aimed at increasing transparency in the taxation of multinational companies and preventing profit shifting to countries with lower tax rates. Selected multinational companies…
VAT on sale of building land to related party
The Supreme Administrative Court (SAC) dealt with a dispute over the tax liability arising from the sale of land between a company and its sole owner and director/statutory representative. The company regarded the sale as an exempt transaction. The…
EU deforestation regulation to significantly affect imports and exports
The EU regulation introducing stricter rules for the import and export of coffee, palm oil, wood or rubber will start to apply on 30 December 2024. It is therefore high time for companies to prepare for the new obligations.
Flood aid: overview of available tax relief
In response to the widespread flooding, the Czech Financial Administration and the Czech Social Security Administration have issued several notices for citizens and companies, offering tax payment deferment, penalty waivers, and tax relief. Read to…
R&D subsidies in the energy sector
On 5 September 2024, the acceptance of applications started under the second call to participate in the THÉTA 2 programme managed by the Technology Agency of the Czech Republic. The programme offers support for applied research and innovation…