Tax & Legal Update
Changes in income taxes resulting from amendment to ICIF Act
The Chamber of Deputies of the Czech Parliament has passed an amendment to the Investment Companies and Investment Funds (ICIF) Act. It includes a technical amendment to the Income Tax Act that responds to changes in the ICIF Act and introduces…
SAC on definition of beneficial owner of royalties
In a recent judgment, the Supreme Administrative Court (SAC) confirmed the key criteria for determining a beneficial owner in the context of licensing agreements. The court indicated that a beneficial owner can be identified in the course of tax…
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 end of 2023 within the consolidation package. The proposals…
Estimated payables as seen by recent case law
The Supreme Administrative Court (SAC) has recently issued two judgments dealing with estimated payables and their effect on the income tax base. The court’s reasoning provides taxpayers with important general information on what to have ready for…
Employment of foreigners from third countries to undergo further changes
Effective 1 July 2024, the Employment Act will undergo significant changes which will affect foreigners from countries outside the European Union without free access to the labour market. Specifically, processes relating to the reporting of job…
Fraudulently issued invoices: who pays VAT?
The Court of Justice of the European Union (CJEU) commented on who is considered a person liable to pay tax for invoices fraudulently issued by a company’s employee.
Non-performing loans – regulation of credit purchasers and servicers
Following the EU directive, a new law on the non-performing loan market was passed, regulating the credit trading and servicing sector. Collection agencies will be required to obtain a licence and will be subject to supervision by the Czech National…
Major amendment to Code of Administrative Justice – evolution or revolution?
After more than twenty years, the Code of Administrative Justice is about to undergo a significant amendment to reflect the decision-making practice of the Supreme Administrative Court (SAC), and to overcome or eliminate the shortcomings of previous…
Electromobility support now available
On 18 March 2024, the National Development Bank in cooperation with the Ministry of Industry and Trade started accepting applications for support in Call I - Electromobility Guarantee announced under the National Recovery Plan.
Applications for photovoltaic power plant subsidies now accepted
Since 1 March 2024, it has been possible to apply for support for the installation of photovoltaic power plants (PV plants) under the RES+ No. 1/2024 - Photovoltaic Power Plants 10 kW - 5 MW for Self-Consumption call announced under the…