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The new corporate income tax return form features two interesting innovations

4.2.2022
The first change is that a legal entity will now enter the amortisation of intangible assets acquired on and after 1 January 2021 in Part B of Schedule 1, Section II, on line 12 instead of line 10. However, intangible assets acquired before 1 January 2021 are not affected by the change, i.e. the amortisation […]

The new corporate income tax return form features two interesting innovations

4.2.2022
The first change is that a legal entity will now enter the amortisation of intangible assets acquired on and after 1 January 2021 in Part B of Schedule 1, Section II, on line 12 instead of line 10. However, intangible assets acquired before 1 January 2021 are not affected by the change, i.e. the amortisation […]

It is not only road tax returns and changes in property tax that need to be filed by the end of January this year

26.1.2022
In addition to the traditional annual road tax return and the real estate tax return, 31 January is now the deadline for notification of foreign income as well. While the Czech laws started requiring the notification of foreign income in connection with the withholding tax a long time ago, this deadline is a novelty. So […]

VAT Remission for Gas and Electricity Supply

29.11.2021
In connection with the Decision on VAT Remission for Gas and Electricity Supply based on the decision of the Czech Ministry of Finance published in the Financial Bulletin No. 34/2021 (hereinafter “Decision”), we would like to inform you about the related issues that may affect your enterprise in this context. This Decision affects not only […]

The new e-commerce regulation, the amendment of the VAT Act, has finally entered into force

11.10.2021
Exactly three months after the date on which the Czech Republic became obliged to implement the e-commerce amendment in its legislative, it actually did so. As we already described in our newsletter from May this year, the e-commerce amendment sets forth new rules that will apply mainly to trading in the digital environment. According to […]

Planned amendment of the VAT Act – new regulation for e-commerce

27.5.2021
On 5 May 2021, the Chamber of Deputies held the second reading of the government bill known as the “e-commerce amendment” (document no. 867), which EU Member States must implement in their legislation with effect from 1 July 2021. Even though the process is not yet finished, we would like to inform you about the […]

Changes in Tangible and Intangible Assets for 2021

3.3.2021
As we have already announced in our newsletter, the most important aspect of the tax package for companies is the changes related to assets. That is why this newsletter will focus solely on these changes. Although Amendment No. 609/2020 Sb. to the Income Tax Act (hereinafter the “Income Tax Act”), which introduced the changes, is […]

Doing Business in the EU after Brexit

16.2.2021
As from December 31, 2020, the UK is separated from the EU. This has an impact on the tax and compliance position of EU based companies doing business in the UK and vice versa. Introduction While the mile-long lines of trucks have dissipated at ports, companies are waking up to less visible forms of friction […]

The 2021 Tax Package was Published in the Collection of Laws on New Year’s Eve

12.1.2021
The closely watched and anticipated tax package for 2021 was finally published exactly on New Year’s Eve 2020, literally “at the eleventh hour”, in the Collection of Laws under No. 609/2020. The amendment (with a few exceptions) becomes effective on 1 January 2021 as declared. The question is, however, whether the Chamber of Deputies should […]

Deadlines for filing tax returns by individuals and legal entities according to the amendment to the Tax Code

6.1.2021
In May of this year, we informed in our newsletter that the planned amendment to the Tax Code had surprisingly not yet been approved. The government then submitted an amended bill to the Chamber of Deputies, which went through the legislative process without major complications, and on 26 June 2020 the amendment to the Tax […]