DAC 6

Tax 

Briefly on the reporting obligation under DAC VI

On 1 January 2021, a new obligation was introduced to notify tax authorities of certain cross-border transactions and other arrangements that meet characteristics defined by law. Due to a lack of clarity on this issue, either in terms of the actual meaning of the terminology used, situations that may be subject to reporting, or the procedures, we try to address this issue in our dReport on a regular basis. We have come up with a brief summary of the latest development and news for you. 

25. 5. 2021
Tax 

Update on the reporting obligation of cross-border arrangements (DAC VI) – deadlines extended to the beginning of 2021

Based on the 6th amendment to the Directive on administrative cooperation in the field of taxation (“DAC VI”), EU member states (including the Czech Republic) have introduced an obligation for businesses to report selected cross-border transactions and other arrangements to taxation authorities. The objective is for the tax administrator to gain better insight into the use of tax regulations and aggressive tax planning. The start of the reporting obligation was planned for the first half of this year, but the Czech Republic has made use of the possibility to postpone the reporting deadlines to the beginning of 2021. 

18. 9. 2020
Tax 

Update on the reporting obligation in cross-border arrangements (DAC VI) [August 2020]

Based on the 6th amendment to the Directive on administrative cooperation in the field of taxation (“DAC VI”), EU member states (including the Czech Republic) should introduce an obligation for businesses to report selected cross-border transactions and other arrangements to taxation authorities in advance. The objective is for the tax administrator to gain better insight into the use of tax regulations and prevent aggressive tax planning. 

24. 8. 2020
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 

Latest Update on the Reporting Obligation for Cross-Border Arrangements (DAC VI)

Based on the Directive on Administrative Cooperation in the Field of Taxation (“DAC VI”), EU member states, including the Czech Republic, should introduce the obligation of economic entities to report to taxation authorities certain cross-border transactions and other arrangements, so that tax administrators gain a better understanding of the use of tax regulations and of aggressive tax planning. The reporting process was supposed to be launched on 1 July 2020; with regard to the current situation, however, the original date might be postponed. However, no specific proposal has been put forth so far. 

22. 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