Amendment to Trade Law - further reduction of administrative burden for businesses

Novinky

Recently, the Senate of the Czech Republic has approved an amendment to the Trade Law which introduces several novelties aiming to improve the business environment in the Czech Republic.

During the process of reporting a trade, legal entities are obligated to announce all data related to their statutory body members, which are then to be recorded in the Trade Registry. In fact, this obligation is, especially in the case of business companies, a doubled one as the same data are recorded and published in the Commercial Registry as well. And it is this fact that the amendment addresses, and as a result, the obligation is not to be imposed on business people entered into the Commercial Registry.

Another innovation of the amendment is the introduction of the possibility that a business person may, while reporting a trade or applying for a qualified trade, not only register for the income tax but also the road tax. Furthermore, a notification of a change of the registration data submitted while registering for these taxes will be possible to give at the respective Trade Licensing Office.