16. 2. 2017
16. 2.
2017
Latest news - February 2017
Last month’s tax and legal news in a few sentences.
- The long-awaited acceptance of applications under the Innovation and Potential programmes commenced in mid-January. According to available information, allocations for large enterprises in both programmes were depleted during the first week. Calls for large enterprises under both programmes are therefore expected to close very soon. Other calls under these programmes are planned for summer 2017 and should partially be intended for large enterprises as well.
- A comprehensive amendment to the Insolvency Act is awaiting the president’s signature. The amendment introduces significant changes, aiming to enhance the transparency of insolvency proceedings, increase the protection of debtors against frivolous petitions, strengthen supervision over insolvency administrators and implement regulations on the provision of advice on the discharge of debts. The law should become effective four months after its publication, i.e. probably on 1 June 2017.
- The Protocol to the Social Security Agreement between the Czech Republic and Japan was signed on 1 February 2017. The protocol extends, among other things, the scope of personnel that may remain insured within the home social security scheme during the period of their work assignment on the basis of a simplified request pursuant to Article 7 of the Agreement. The protocol is yet to be legislatively approved by both countries. It is therefore uncertain whether it will enter into effect this or the following year.
- On its website, the GFD published an appendix to the GFD’s Information on the Application of the Reverse-Charge Mechanism to Electronic Communication Services relating to the purchase and sale of electronic communication services.
- The GFD’s Instruction D-31, entitled Determination of Uniform FX Rates for the 2016 Taxable Period was published in the Ministry of Finance’s Financial Bulletin.
- The GFD published its opinion on when e-shops should report payments from the ERS perspective. The financial administration declared that in circumstances in which taxpayers do not have exact information about when the customer issued a payment order, the following procedure will be acceptable: the taxpayer should send information about reported sales to the tax administrator and should issue a receipt to the customer no later than at the moment when the taxpayer learns that the appropriate amount was withdrawn from the customer’s account or at the moment when goods are dispatched to the customer. Decisive is which moment occurs earlier. The opinion further states that the taxpayer may fulfil the duty to report sales already before the issue of a payment order, for example, once an order is received.
- On its website, the GFD published frequently asked questions and their answers relating to personal income tax on employment for the 2016 and 2017 taxable periods.
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