News

New obligation to report tax exempt income

Tuesday, 7. May 2019 - 15:34
Within the framework of the 2019 tax package, the notification duty was extended concerning income generated by tax non-residents from sources in the Czech Republic that are subject to the withholding tax. Taxpayers are newly obliged to inform the tax administrator of paid income that is exempt from income tax or that is not taxed in the Czech...

Amendment to the Labor Code – abolition of the waiting period with effect from 1 July 2019

Tuesday, 9. April 2019 - 16:01
At its meeting held on 22 January 2019, the Chamber of Deputies of the Czech Republic decided to abolish the waiting period (i.e. the first three days of the employee’s incapacity for work). As a result of this decision made by the Chamber of Deputies, the first three days of temporary incapacity for work will be reimbursed to employees from 1...

Methodology of how to calculate the amount of compensation for non-pecuniary damage in the case of death of those next of kin

Thursday, 21. March 2019 - 11:14
In late 2018, Supreme Court of the Czech Republic issued a groundbreaking decision regarding the method of determining compensation for mental suffering in the case of death of the next of kin. In the case of those next of kin, i.e. the spouse, parents and children, the Supreme Court set as a basic indication an amount twenty times the average...

Offsetting uncertain or indefinite claims

Thursday, 7. March 2019 - 16:49
The new Civil Code has brought several significant changes, one of which is the issue of unilateral offsetting. The Civil Code provides that uncertain or indefinite claims may not be offset. However, the explanatory memorandum did not provide any explanation as to which claims should be regarded as uncertain or indefinite. Partial clarification...

New, Higher Intrastat Reporting Threshold Applicable since 1 Jan 2019

Tuesday, 5. March 2019 - 15:57
On 1 Jan 2019 the Intrastat reporting threshold has been raised to CZK 12 million for dispatches and CZK 12 million for arrivals. Until 31 Dec 2018 the reporting threshold amounted to CZK 8 million. The consequences of raising the reporting threshold are as follows: If a provider of statistical information reached the CZK 8 million reporting...

Proposed change to the entitlement to deduct VAT for payer registration

Monday, 25. February 2019 - 15:37
Within the 2019 tax package, it is proposed to exercise the entitlement to deduct VAT on the received taxable transaction made during a period of 60 months before the date of registration if: - such a transaction became part of the fixed assets capitalised in a period of 12 consecutive months before the date on which the taxable person became a...

Criminal Record Certificates in the EU without Translations and Apostille

Wednesday, 9. January 2019 - 11:12
  Submission of a Criminal Record Certificate can be undoubtedly marked as “evergreen” faced by many EU citizens when dealing with authorities of another member state. The truth is that nowadays most member states check their own citizens themselves and the respective authorities can thus make their own conclusion regarding the person’s criminal...

An amendment to civil lawsuit will (may) restrict expert opinions submitted by parties to a dispute

Wednesday, 19. December 2018 - 14:56
The House of Deputies is currently considering a draft amendment to civil lawsuit. The amendment should affect expert opinions and the assessment thereof by the court within the framework of the relevant proceedings. The objective of the amendment is to clarify and shorten civil court proceedings.  Given the current situation, each party may...

Schaffer & Partner organized a conference for German-speaking members of the AGN international network

Thursday, 13. December 2018 - 16:39
This year we had the honour to organize an AGN conference, which was held from 29 November to 1 December 2018 on the prestigious premises of the Czech-German Chamber of Commerce and Industry (CNOPK) in Wenceslas Square. We purposely chose the venue at the headquarters of the Czech-German Chamber of Commerce and Industry, because the organization...

Recognition of official documents between EU countries will be significantly simplified soon

Thursday, 22. November 2018 - 10:08
On 16 February 2019, an EU regulation will come into effect, repealing the requirement for a higher certification of authenticity, especially apostillation, for certain public documents issued in another EU Member State. The regulation applies to personal status documents such as birth certificate, death certificate, marriage certificate,...

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