VAT News [February 2021]
The Minister of Finance has decided on VAT exemption for respirator supplies for a limited period. However, the VAT deduction is not possible if the supplier delivered these goods to customers including VAT; an…
OECD has released an updated version of the manual for the assessment of international tax aspects following anti-epidemic measure…
The updated version summarises the conclusions and recommendations set out in the original version published last spring. At the same time, it offers examples of how different countries approach, within the cur…
Wage compensation as deductible (non-deductible) expenses in the research and development tax relief
For five years, the expert public has been waiting for the decision of the Supreme Administrative Court in the matter of deductibility/non-deductibility of the wage compensation in the form of a holiday as part…
Custom development and its utilisation as part of a tax-deductible item for research and development
In August 2020, the much-expected Instruction No. MF-17 was issued in the Financial Bulletin, reacting to the amendment to the Income Taxes Act in relation to the tax-deductible item for research and developmen…
The Long-Awaited Information of the General Financial Directorate on the Implementation of the ATAD Was Published
Council Directive EU 2016/1164 of 12 July 2016 laying down rules against tax avoidance practices (ATAD) was implemented into Czech tax legislation in 2019. New provisions of the Income Taxes Act arising from th…
Ex officio registration of a ‘permanent establishment’ is not possible without finding out the facts of the case
At the beginning of January 2021, the Supreme Administrative Court ruled in favour of the plaintiff (foreign legal entity – the founder of a branch in the Czech Republic) in case 7 Afs 173/2020-27 relating to t…
Victory Loves Preparation: The best investment is prevention, says a Partner at Deloitte Legal Bulgaria
The society-wide crisis brought about by the coronavirus pandemic in 2020 is reflected, among other things, in companies’ planning. Entrepreneurs try to keep their companies running and to provide them with the…
What is the deadline for filing the income tax return for 2020?
As the new year arrives, the time for the preparation of financial statements and the income tax return for the past taxation period comes. This year, it is necessary to pay increased attention to the time limi…
Planned changes to the Excise Taxes Act
The area of excise duties is expected to undergo significant changes in the future. From 1 January 2022, an amendment to the Excise Taxes Act should take effect. From 13 February 2023, a new excise directive wi…