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The president has signed the consolidation package. What does it mean for VAT?

28.11.2023
Here is the next part of our basic overview of the most important things that the consolidation package brings from 1 January 2024 in terms of taxes. We’re continuing in what we discussed in our previous tax newsletter, this time with a focus on VAT. Rate changes The amendment abolishes the second reduced VAT rate […]
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What the “Consolidation Package” Has Brought Us in Terms of Taxes, or Still Wine in Tax-Deductible Expenses for the Last Time

27.11.2023
Here is a basic overview of the most important things that the consolidation package brings from 1 January 2024 in terms of taxes. We are thus following up on our payroll updates. Restrictions on exemptions for sales of securities and transfers of shares As we advised this spring, the consolidation package introduces taxation of income […]
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Proposed changes to the taxation of employee benefits from 1 January 2024

15.6.2023
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 […]
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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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