16. 3. 2017
16. 3.
2017
Latest news - March 2017
Last month’s tax and legal news in a few sentences.
- A decree on the method of calculating the entitlement for a refund of tax on mineral oils paid in the price of some mineral oils consumed in agricultural production, and on the manner and conditions of keeping related records and documents was published in the Collection of Laws under No. 38/2017 Coll.
- An amendment to the Insolvency Act was published, effective from 1 July 2017.
- The Ministry of Finance released for external comments the draft decree on the model country-by-country report and the instructions on its completion for the purposes of the automated exchange of information with another state within international cooperation in tax administration. The effective date of the decree has been proposed for 5 June 2017.
- The General Financial Directorate published on its website information on the duties of vendors providing supplies to persons enjoying privileges and immunities under Act No. 235/2004 Coll., on Value Added Tax and Act No. 353/2003 Coll., on Excise Duties.
- In February, the government approved the proposal by the Ministry of Labour and Social Affairs to increase sickness benefits for long-term inability to work, from the beginning of 2018.
- The financial administration has published information on its website that VAT payers who erred in connection with VAT ledger statements and were thus penalized by one of the “fixed amount” penalties of CZK 10, 30 or 50 thousand in 2016 may apply with their tax administrator for a waiver of up to two penalties, regardless of the cause of the error. For 2017, one penalty at the most can be waived under the same conditions. In this respect, the financial administration issued Amendment No. 1 to GFD Instruction D-29 on waiver of penalties for failure to file a VAT ledger statement.
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