Current Situation as Regards the Tax Package Approval Procedure

The second reading of a bill amending various tax laws (the so-called Tax Package, Parliamentary Document No. 206) is to be included in the programme of the 24th session of the Chamber of Deputies, taking place from 4 December 2018. As we have already informed you in previous issues and in our regular webcast, it is unlikely that the original bill will be passed by the year-end.

The possible effect of changes specified in the original bill is being addressed at present. The motions to amend which have been considered and are available on the website of the Chamber of Deputies (the deadline for their submission was 14 November) do not clearly indicate a comprehensive approach.

The Ministry of Finance is preparing and debating (for example with the Chamber of Tax Advisors of the Czech Republic) a proposal for postponing the effective dates of individual provisions, with the preliminary indication that selected changes would only come into effect after the Act has been passed (or from the next month following the publication in the Collection of Laws), with other ones becoming effective for the next taxation periods subsequent to the Act taking effect. We have been closely monitoring the latest developments. A summary of details concerning the Tax Package (including the effective dates of relevant provisions) will be published after the second reading.

The article is part of dReport – December 2018, Tax news; Grants and investment Incentives.

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