VAT News: June
What are the latest VAT developments? Read about the judgement of the Court of Justice of the EU and the amendment to the VAT Act.
Amendment to the VAT Act
An amendment to the VAT Act with the proposed effectiveness from January 2019 has been referred to the Government of the Czech Republic for consideration.
Corporate Income Tax Return: advanced topics
Due to positive feedback on our previous article, we decided to point out several other areas where people often make mistakes during the preparation of the corporate income tax return. This area will also be d…
International taxes in brief: Chile announces activation of treaty MFN clauses
On 19 April 2018, the Chilean tax administration published Circular 22/2018, announcing that the conditions for activation of the most favoured nation (MFN) clause in the tax treaties signed by Chile with the C…
CbC Reporting: The First International Exchange of CbC Reports is Approaching
The first international exchange of Country by Country (“CbC”) Reports will be performed by tax offices in June 2018 for the first time. The Czech tax administration will have available a new instrument to revi…
Cancellation of super-gross wage recalled. Personal taxation will remain unchanged next year
The Ministry of Finance withdrew its original proposal to cancel super-gross wage and the related conceptual changes in the personal income tax calculation. The proposal was part of an amendment to the Income T…
Record in the register of beneficial owner data
Starting from 1 January 2018, all legal entities and trust funds have been obliged to record information of their beneficial owners in a public register – register of beneficial owner data. This obligation is n…
Topical comments on the distribution of profit in capital companies (an interpretation shift)
As the deadline to complete financial statements is drawing closer (for most companies) it is time to recall the legislative conditions for possible considerations on the distribution of profit and other equity…
New Notification Duties for Tax Payers
The Government of the Czech Republic is preparing an amendment to the Income Taxes Act, with anticipated effect from 2019, which still has to undergo the readings in the Parliament. As we have already informed …