Single monthly employer reporting and related changes to income tax

In the beginning of March 2025, the government approved a bill on single monthly employer reporting (in Czech Jednotné měsíční hlášení zaměstnavatelů or JMHZ), which the Ministry of Labour and Social Affairs wants to launch from 2026. It should…

Income tax and VAT aspects of technical improvements to leased assets

The termination of a lease of premises to which the lessee carried out technical improvement may have significant tax implications for both the lessee and the lessor. If, with the lessor…

Technical amendment to consolidation package approved by chamber of deputies

During the discussion of an amendment to the Act on Investment Companies (Print 570), the chamber of deputies approved proposals to amend the Income Tax Act and other laws amended at the…

New case law on interest on loans against taxpayers

At the beginning of 2024, the Supreme Administrative Court (SAC) issued two judgments concerning interest income and expense on loans from a corporate income tax perspective. In the first…

Proposed changes to consolidation package

The governing coalition has agreed on amendments to the bill on the consolidation of public budgets (consolidation package with planned effect from 1 January 2024). The bill has already passed its first reading in the chamber of deputies. Below, we…

New GFD information on claiming tax losses

At the end of 2021, the General Financial Directorate issued its information on the application of a special provision on claiming tax losses as an item deductible from the

Minimising sanctions: other options to reduce default interest

As a sanction associated with an additionally assessed tax, default interest can often be more severe than a penalty. Default interest waiver options, discussed in the previous issue of…

Waiver of sanctions for late filing of 2020 income tax returns

With respect to the persisting effects of the SARS-COV-2 pandemic, the Ministry of Finance has issued another liberation measure that under certain conditions waives the penalties charged to tax