Taxes

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…
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…
Selected VAT changes effective from 2021

Selected VAT changes effective from 2021

VAT on rental of real estate from 1 January 2021 The current provision of Section 56a (3) of the VAT Act has so far allowed the payer (lessor) to decide to apply VAT on the rent of any real estate to other payers (lessees) for their economic…
Electronic record of sales postponed

Electronic record of sales postponed

The legislative process relating to Senate print no. 1056, which governs the obligation to record sales by means of electronic record of sales, has been terminated and the act took effect on 3 November 2020. The obligation to record sales has thus…
Current measures relating to the COVID-19 pandemic

Current measures relating to the COVID-19 pandemic

Following the information published in the previous issued of GT News, we would like to inform you about the widening of tax relief that is part of the extraordinary government measures adopted in relation to the current COVID-19 pandemic. You will…
Great liberation package and other current measures relating to the COVID-19 pandemic

Great liberation package and other current measures relating to the COVID-19 pandemic

Great liberation package On Wednesday 14 October 2020, the Finance Ministry of the Czech Republic published a new decision of the finance minister on waiver of tax, tax accessories and tax prepayments due to an extraordinary event (the so-called…
« Previous page
12348152128