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Combating tax ‘optimisation’ – Implementation of the ATA Directive (EU, CR)

7.8.2017
Another tool used by the Czech tax administration to combat tax evasion is the ongoing implementation of the ATA Directive (Council Directive (EU) 2016/1164 laying down rules against tax avoidance practices) that is to be completed by 31 December 2018. Primarily, the Directive lays down new rules for the tax-deductibility of interest expenses. The rules are […]

Fight against tax ‘optimisation’ – country-by-country reports starting to look clearer in the Czech Republic

20.7.2017
The Czech Chamber of Deputies approved an amendment proposed by the government to the International Cooperation in Tax Administration Act. The bill introduces an obligation of country-by-country reporting (CBCR). What does CBCR involve? And what effect can it have on you? On 12 July 2017, the Czech Chamber of Deputies approved in a third reading […]

Transfer pricing in the light of Trump’s tax reforms

9.2.2017
Following Donald Trump’s inauguration last Friday, many businesses are keenly awaiting the effect the tax policy announced by the president will have on them. Prepared in association with our colleague Ken Almand of RSM UK, this article describes what Trump’s tax plan will change. The main change is a cut in the US corporate tax […]

Real estate acquisitions more expensive for developers after 1 November 2016?

22.8.2016
About half a year ago, we informed you about changes made by the Senate’s legislative measure regarding real estate acquisition tax. These also include a major change as to the payer of the tax. After many discussions and negotiations, an amendment was published in the Czech Republic’s Collection of Laws last week, stipulating that in […]

Electronic cash registers enacted – Go-live date set for December

7.7.2016
The Electronic Cash Registers Acct has been adopted and published in the Collection of Laws on 15 April 2016 (as Act No. 112/2016 Sb.), jointly with accompanying Act No. 113/2016 Sb. The obligation to introduce electronic cash registers (ECRs) is divided into stages by the type of payments received by taxpayers in their businesses. On […]

Tax News 2016

15.1.2016
New Year 2016 has brought some significant tax changes for taxpayers. The Christmas gifts were not exactly lavish when it came to income tax but a bit more generous in the case of value added tax (“VAT”). As for the latter, a control report must be filed along with a VAT return, for the first […]

Property acquisitions more expensive for developers after April 2016?

16.10.2015
Some two years ago, we informed you about changes the Senate adopted to amend the proposed bill (later a statutory measure of the Senate) on real estate acquisition tax. Part of the amendment fundamentally changes who is responsible for paying the tax. At the last minute, the Senate permitted application of the current regulation in […]

Holding in the Czech or Slovak republic is still more attractive. In the Netherlands, it is becoming increasingly difficult

9.10.2015
On last year’s Prinsjesdag (Budget Day) 2014, the Dutch State Secretary for Finance addressed a letter to the Netherlands House of Representatives entitled ‘Choices for a better tax system’. The letter set out the ambitions of the government with regard to reforming the tax system. In the Annual Budget 2016 released earlier this week, the […]

VAT judgments – interest on retained VAT deduction and right to deduction by holding companies concerning costs related to subsidiary acquisitions (such as due diligence and valuation)

25.8.2015
This issue of Tax News is dedicated to more easily digestible topics. We outline the courts’ views on the entitlement of VAT payers to interest on retained VAT deduction (a judgment of the Supreme Administrative Court, “SAC”) and the frequently discussed right of holding companies to deduct VAT (a judgment of the Court of Justice of the EU, “CJEU”).

VAT on real estate – light at the end of the tunnel

10.8.2015
After much delay, the General Financial Directorate (“GFD”) has finally published its long-awaited information on the application of the VAT Act to real estate after 1 January 2015 (“Information”). Given its unsystematic (hopefully temporarily) regulation, this area of VAT has been full of ambiguities and contradictory interpretations. Therefore the GFD’s representatives promised to issue explanatory […]

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