Czech Republic


Proposed changes to the taxation of employee benefits from 1 January 2024

The consolidation package presented by the government at the end of May, which is expected to come into force from 1 January 2024, includes changes in the taxation of employee benefits. What specifically should employees and their employers prepare for? Changes in the taxation of benefits from the perspective of employees From the employee’s point […]

“War tax” in sight

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. […]

The new corporate income tax return form features two interesting innovations

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 […]

Financial and Tax due diligence and its significance in practice

A widely-used term in M&A (transaction) consulting, “due diligence” means a legal, economic, financial or technical investigation of the company that is the subject of the transaction (often referred to as the “target”). The specifics of each transaction call for an accurate, detailed and tailored due diligence, which requires engaging competent advisors who keep abreast […]

Doing Business in the EU after Brexit

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 […]

First Tax Legislation Amendments Related to Coronavirus Epidemic Waiting for President’s Signature

In addition to what are called the liberation packages, the last of which again postpones the deadline by which individual and corporate tax payers need to file their 2019 tax returns without any sanctions until 18 August 2020, and the validity of which only required publication in the financial newsletter, there are also some changes […]

Tax Code Amendment Ultimately Not Adopted with Only Three Votes Short

We will have to wait a little bit longer because easier electronic communication with the Tax Office and management of our tax accounts is still to come. The Chamber of Deputies was only three votes short of adopting the amendment to the Tax Code. At the same time, however, the subtle extension of the deadline […]

Extraordinary tax measures in response to the spread of coronavirus in the Czech Republic II

Below is a list of the new series of measures relating to income taxes, VAT and real estate acquisition taxes which have already become available to all taxpayers, and of measures which will become effective as soon as the related Act is amended. 1. Already in effect: Prepayments on individual and corporate income tax due […]

Extraordinary tax measures in response to the spread of coronavirus in the Czech Republic and Slovakia

CZECH REPUBLIC In connection with the spread of coronavirus, the Minister of Finance of the Czech Republic has used the powers granted to her by in the Tax Code and has decided to waive penalties for late filings and related late tax payments and certain administrative fees. Detailed information on each of the measures can […]

What is needed to eliminate withholding tax on the payment from Poland

If you have customers in Poland and you invoice them for your services, you might be surprised what information you will be required to provide to your Polish customers in order to eliminate withholding tax on the payment from Poland. This is due to a change of Polish legislation as of 1 January 2019 stipulating […]