Not only personal income tax under Supreme Audit Office’s scrutiny
From June 2016 to this spring, the Supreme Audit Office (SAO) examined personal income tax administration and its examination outcomes do not spare the financial …
Interest on retained excess deductions yet again before Court of Justice of the European Union
The Court of Justice of the European Union confirmed yet again that tax administrators should refund excess deductions to taxpayers within a reasonable time. If they fail to do so, the taxpayer is entitled to late payment interest (default interest)…
Lafata scores against tax authorities
The Supreme Administrative Court reversed a lower court’s decision on the taxation of the Czech football player David Lafata’s income. The SAC granted his arguments that a professional football career may be viewed as a trade. This hence should…
Stats and facts about the tax administration’s 2016 activities
The Czech financial administration has recently released a report on its activities for 2016. It states that tax revenues grew by nearly ten percent year-on-year, thanks to the tax…
Tax administrators obliged to continuously review conditions for securing tax
An order to secure tax (a securing order) issued by a tax administrator should not be permanent or irreversible. The taxpayers themselves may contribute to its end. At the same time, tax administrators have the duty to regularly review the…
Country-by-country reporting – changes on the horizon
At the last session of the Chamber of Deputies of the Czech Republic, further progress was achieved in passing the amendment to the Act on International Cooperation. The Act implements a new information exchange duty, i.e. country-by-country…
Not only (one-crown) bonds under the financial administration’s scrutiny
In past weeks, the financial administration commenced blanket investigations in the financing area, primarily focusing on entities that issued one-crown bonds before 2013. And its…