VAT news [January 2024]
In the current VAT news, we present selected changes brought by the latest amendments to the VAT Act effective from January 2024. We recall, for example, which goods and services fall under the reduced 12% rate…
In brief from international taxation [January 2024]
The Supreme Administrative Court of the Czech Republic recently ruled on the tax assessment of a payment for leasing an unequipped aircraft to a non-resident. Italy and Switzerland have enacted specific regulat…
News on the global minimum tax and its Czech implementation
At the end of last year, a new Act on Top-Up Taxes for large multinational groups and large domestic groups was published in the Collection of Laws, which introduces the global OECD rules, also known as Pillar …
Courts confirm possibility of retroactive application of investment incentive
Last autumn, the courts dealt with an issue that had troubled many tax payers. Is it possible to claim a tax relief arising from investment incentives during the additional assessment procedure? The courts have…
The key tax news of 2024
A number of tax changes came into force at the beginning of 2024. This article provides a summary of the most crucial ones.
ESOP: Uncertainties regarding social security and health insurance premiums
On 29 December 2023, Act No. 462/2023 Coll. was promulgated in the Collection of Laws, amending certain acts in connection with the development of the financial market and the promotion of old-age security. It …
The European Commission has updated the list of tariff suspensions and quotas
Tariff suspensions, together with tariff quotas, allow EU companies to significantly reduce the cost of customs duty they would otherwise have to pay when importing materials and semi-finished goods needed for …
SAC: A request for international exchange of information can materially initiate a tax audit
One of the most important judgments of 2023 was the judgment in case No. 6 Afs 59/2023, by which the Supreme Administrative Court (“the SAC”) upheld the taxpayer’s cassation complaint concerning the tax adminis…
Real estate tax: Review your tax return obligation
In connection with the amendment to the Real Estate Tax Act coming into effect as of 1 January 2024, we have prepared not only a summary of the key novelties and changes affecting the obligation to file a tax r…