Publications

Physical inventory count in business activity

Physical inventory count in business activity

The topic of this article is the physical inventory count in business activity. Inventory count is a current topic in this period, because for most companies the balance sheet date, that is the last date of the accounting period, is approaching.…
Permanent exemption from tax for unsold beer

Permanent exemption from tax for unsold beer

On 15 December, Members of Parliament approved an amendment of the excise tax act in a state of legislative emergency the second time, which, with effect from 1 January 2021, enables breweries to return unused beer intended for disposal in justified…
New flat rate tax regime

New flat rate tax regime

From 1 January 2021, traders and small entrepreneurs can use the new flat rate tax regime. The flat rate can be use by all persons, who are self-employed, who are not VAT payers and whose income from self-employed activity did not exceed CZK 1,000…
Changes in the time limit for assessing tax when reporting and using tax loss and assessment of the running of this time limit

Changes in the time limit for assessing tax when reporting and using tax loss and assessment of the running of this time limit

Following the decision-making of the Supreme Administrative Court, namely judgments file no. 8 Afs 58/2019-48 of 13 May 2020, file no. 2 Afs 388/2019-70 of 18 June 2020 relating to the so-called “tax loss chain” and judgements file no. 9 Afs 81/2020…
New interpretation of the National Accounting Council; exchange differences

New interpretation of the National Accounting Council; exchange differences

We would like to inform you in this article that two fundamental new interpretations have been issued, which are available for compiling financial statements for the year 2020 already: I–42 Foreign currency receivables with allowances I–43 Provided…
The DAC 6 Directive: New reporting obligation connected to significant penalties

The DAC 6 Directive: New reporting obligation connected to significant penalties

In this article, we would like to draw your attention to the fact that at the end of August, an act implementing Council Directive (EU) 2018/822 (the so-called DAC 6 Directive) in the Czech legal system was promulgated. This directive implements a…
Payment of pensions abroad - sending a proof of life certificate

Payment of pensions abroad - sending a proof of life certificate

The Czech Social Security Administration is temporarily changing the proof of the conditions for the payment of pensions abroad due to the continuing emergency situation caused by the pandemic of the new coronavirus and due to the emergency measures…
Holiday Accounting Amendments from 1 January 2021

Holiday Accounting Amendments from 1 January 2021

One of the areas significantly affected by the amendment to the Labour Code is holiday accounting. Changes in holiday accounting will take effect on 1 January 2021. However, every employer must prepare for the upcoming news in advance - it will be…
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