Taxes

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…

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…

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…

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…

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…

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…

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 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…