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The 2023 Tax Package is here!

6.12.2022
On Friday, 2 December, 2022, the 2023 tax package, which amends the Income Tax Act, the Value Added Tax Act and other related laws, was published in the Collection of Laws. A brief overview of the most important changes follows. Windfall tax A new 60% tax on profits in excess of 120% of the average […]
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“War tax” in sight

17.10.2022
A Europe-wide discussion on the potential adoption of a windfall tax began already in the first half of the year, driven by the global situation over the last months, in particular the ongoing war in Ukraine. Many member states , including the Czech Republic, are now in the process of implementing this kind of taxation. […]
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Contributions for ballistic vests, ammunition or medical care. Tax relief for aid to Ukraine will make things easier for tens of thousands of companies.

17.5.2022
The President signed an amendment that significantly expands the options for deducting donations made directly to Ukraine. The new measure concerning donations may be applied retroactively for the entirety of 2022. For example, it will now be possible to deduct donations to Ukrainian public benefit organisations or Czech and Ukrainian state organisational units (e.g. the […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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