ATAD

Tax 

The new EU Tax Policy Framework of the European Commission

On 18 May 2021, the European Commission (“EC”) published its long-awaited Communication on Business Taxation for the 21st Century, introducing a short-term and long-term vision for the business tax policy agenda. The proposed agenda should support Europe in recovery from the Covid-19 pandemic and secure sufficient public revenues in upcoming years. This document complements the tax Action Plan presented by the European Commission in July 2020 as part of a package for fair and simple taxation. 

18. 6. 2021
Tax 

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 the directive that impact payers of the corporate income tax and their permanent establishments are currently discussed in more detail in the issued information of the General Financial Directorate. 

15. 2. 2021
Tax 

Current Developments in the Legislative Process of the Income Tax Act

The legislative process in the field of Act No. 586/1992 Coll., on Income Taxes, as amended (hereinafter referred to as "ITA"), is very rapid, its development is difficult to predict and, moreover, the individual changes are fragmented into many "packages", which significantly complicates the monitoring of the planned changes. That is why we have selected the most important ones from the current proposals and summarise their legislative developments below. 

24. 6. 2020
Tax 

In Brief from International Taxation [June 2020]

In the light of COVID-19, the European Commission has proposed the postponing of deadline for initial reporting obligation under DAC 6. The six-month delay is also expected in case of application of the VAT e-commerce regime. The Finnish Highest Tax Court rejected the tax deductibility of interest if the group parent is a contractual investment fund incapable of preparing consolidated financial statements. The Dutch Ministry of Finance has introduced a new Decree on restriction of loss compensation while the State Secretary for Finances proposed new tax measures for Tax Plan 2021. Find out more in Brief from International Taxation. 

17. 6. 2020
Tax 

Briefly on Selected Amendments to the Income Taxes Act

The development of Czech legislation has recently been so rapid that it is starting to be rather difficult to keep track of all the proposed changes. We have therefore prepared a brief overview of some of the proposed changes in the area of income taxes that are either under preparation or already in the legislation process and will affect Act No. 586/1992 Coll., on Income Taxes, as amended (hereinafter the “Income Taxes Act”). 

26. 5. 2020