Tax Advisory
2
Min. Reading Time
Current Trends in Transfer Pricing Controls
The General Financial Directorate (“GFD“) recently published a press release on transfer pricing. According to the Financial Administration, multinational...
Tax Advisory
2
Min. Reading Time
New Large Value Added Tax Amendment
The Ministry of Finance has introduced a significant amendment to the VAT Act, which was sent to the Government for discussion. Most of the changes are expec...
Tax Advisory
1
Min. Reading Time
Notification of entry into the unrealised exchange rate differences exclusion regime
From 2024, the Income Tax Act brings the option for taxpayers to exclude unrealised exchange rate differences from the tax base in the period in which they a...
Tax Advisory
1
Min. Reading Time
Limit on Tax Deductibility of Depreciation and VAT Deduction of a Company Car
As part of the consolidation package, one of the approved changes is the limitation of the purchase price of company cars to CZK 2 million (EUR 82k). The lim...
Tax Advisory
2
Min. Reading Time
Changes in Personal Income Tax
Change in Progressive Taxation of Individuals With effect from January 1, 2024, the threshold for progressive taxation of personal income will be set lowe...
Tax Advisory
3
Min. Reading Time
Amendment to the Real Estate Tax Act
The most relevant changes that will affect the real estate tax in the following tax periods are described below. Definition of paved plot In the curre...
Tax Advisory
3
Min. Reading Time
Functional Currency Euro for Real Estate Companies
In a separate article of this newsletter, we focus on the implementation of the functional currency concept into the Czech Accounting Act. In this context, w...
Tax Advisory
1
Min. Reading Time
The Reporting Obligation of Foreign Income is about to be Changed by New Legislation
Other changes resulting from the consolidation package, specifically from the amendment to the Income Tax Act include rules on the Reporting of Foreign Incom...
Tax Advisory
1
Min. Reading Time
Change in Corporate Income Tax Rate
Corporate income tax rate has been increased from 19% to 21%. The change will be applied to periods starting from January 1, 2024, and later. The current ...
