VAT News [March 2020]
What is new in the VAT legislation? What information has been issued by the General Financial Directorate (GFD)? How did the Court of Justice of the European Union (CJEU) decide on the VAT exemption in relation…
In Brief from International Taxation [March 2020]
CJEU concluded that the Belgian TOB is compatible of the measure with the freedom to provide services under TFEU. The EU published an updated of EU list of non-cooperative jurisdictions. The Netherlands publish…
Amendment to the Tax Code To Be Considered by the Senate
The Tax Code amendment moved forward in the legislative process. On 12 February 2020, the Chamber of Deputies approved the bill in the third reading. The bill was subsequently referred to the Senate where it is…
Travel bans and quarantine: COVID-19 updated for the Czech Republic
The Czech Republic has declared a nationwide quarantine in its entire territory. The government has decided to impose a two-week quarantine in the country until 6 am local time on March 24, 2020. The restrictio…
Amendments to Digital Tax Act: 7% Tax Rate Possibly to Decrease
The legislative process of passing the Digital Tax Act has not yet come to an end. At present, the act is being considered by the parliamentary Committee on the Budget that is preparing its motions to amend. Wh…
Calculated Expenses Cannot Be Used in the Calculation of Deductions on Research and Development
The regional court in Hradec Králové reviewed the legitimacy of calculating the amount of deductions for research and development (“R&D”) by means of ‘calculated expenses’. The court ruled that the Income T…
The coronavirus will test how ready we are for flexibility of work in practice. How to replace client meetings in person?
The coronavirus is spreading across the world and governments are introducing measures intended to minimise the risk of infection and prevent further spread of the virus. However, these measures naturally affec…
Adoption of the Double Taxation Avoidance Act with Taiwan
The bill on double taxation avoidance with Taiwan passed the legislative process and was published in the Collection of Laws on 26 February 2020. Although it does not have the status of a double tax treaty it i…
What Should Not Be Underestimated in the Preparation of the Corporate Income Tax Return?
With the forthcoming deadline for filing the corporate income tax return, we summarise below several areas which may cause complications in practice.