News

Deferral of real estate tax and road tax

Monday, 11. January 2021 - 13:51
On 7 January 2021, the Ministry of Finance proceeded to remit interests, fees, and other charges related to real estate tax and road tax. This in fact moves the deadline for submitting the relevant tax returns for all taxpayers from 1 February to 1 April 2021, without the risk of late fees and penalties. Moreover, the obligation to pay road tax...

FLAT-RATE MEAL ALLOWANCE 2021 – financial contribution for meals in 2021

Monday, 11. January 2021 - 13:03
In 2021, employers have a new option of providing their employees with financial contributions (allowance) for meals that are exempt from tax for employees pursuant to new provisions of Section 6(9)(b) of the Income Tax Act. Financial contributions for meals per shift are exempt from tax up to 70% of the upper limit of meal allowance payable to...

The tax package to come into force from 1 January 2021

Monday, 4. January 2021 - 12:34
The tax package, which, among other things, brings the abolition of the super-gross wage, was returned by the President of the Republic without signature to the Speaker of the Chamber of Deputies to be signed and published. The tax package will be published on 31 December 2020 in the Collection of Laws under No. 609/2020 Coll. The legislative...

Approval of the tax package 2021

Tuesday, 29. December 2020 - 16:03
The Chamber of Deputies approved the tax package for 2021, thus confirming the abolition of the super-gross wage and its replacement by two personal income tax rates of 15 and 23 percent. The tax package was adopted in the Senate form, which at the same time increases the taxpayer's reduction to CZK 27,840 for 2021 and CZK 30,840 for the following...

The rules for distribution of profit of companies are changing from the next year

Monday, 21. December 2020 - 21:42
On January 1, 2021, an extensive amendment to the Business Corporations Act will come into effect, which brings substantial changes to the distribution of profits and other own resources, as well as greater responsibility for members of the statutory body. The Business Corporations Act newly regulates, for example, the deadline for taking a...

Even a legally sound transaction may be viewed as legal abuse by tax authorities. Decision of the Supreme Administrative Court Ref. No. 6 Afs 376/2018

Monday, 21. December 2020 - 20:33
The Supreme Administrative Court ruled in favour of tax authorities that applied - on the basis of tax inspection results - a tax adjustment for corporate income tax in the form of a withholding tax at a special tax rate of 15% of the value of profit distributions due to the failure to withhold and subsequently pay such tax. Company A was...

Groundbreaking decision of the Supreme Administrative Court - investment incentives

Monday, 23. November 2020 - 10:47
On November 9, 2020, our article on the groundbreaking decision of the Supreme Administrative Court in the matter of the client represented by our office was published on epravo.cz website. This decision will have a positive impact, especially for entrepreneurs receiving government aid in the form of an investment incentive. Especially those...

Replacement of the entry medical examination by a sworn statement

Monday, 2. November 2020 - 18:51
On October 16, 2020, the government has in its resolution adopted a crisis measure, which reacts to the obligation of the employers in regard to the obligatory entry medical examinations of the employees and due to the COVID-19 pandemic enables them to be temporarily substituted by an affidavit. When can the medical examination be substituted?...

Cancelation of Real Estate Transfer Tax Approved

Monday, 21. September 2020 - 20:51
As at 15 Sept 2020 the parliament definitely approved the Act on Cancelation of Real Estate Transfer Tax. The Act was also already signed by the President as at 18 Sept 2020. The obligation of real estate transfer tax payment is cancelled retrospectively for all transfers incorporated in the Cadastral register as of December 2019 or later. If the...

Amendment on VAT Act – Quick fixes

Wednesday, 16. September 2020 - 16:45
As of 1 September 2020 new Amendment of VAT Act came into force. This Amendment implements new provisions of EU Directive 2018/1910 and Implementing Regulation 2018/1912 concerning delivery of goods between EU member states and call-off stocks. The Amendment thus implements so called Quick fixes VAT provisions. The Amendment was published in...

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