New personal income tax forms
Following the amendment to the Income Taxes Act effective since 1 January 2021, a decree of the Ministry of Finance (No. 335/2021 Coll.) was published in the Collection of Laws after more than 8 months, amendin…
Information of the General Financial Directorate on transfer pricing in financial transactions
On 9 August 2021, the General Financial Directorate issued information on the guidance on transfer pricing in financial transactions (the “Information”) in which the General Financial Directorate refers to Tran…
Reintroduction of exemption of non-residents’ interest income from so-called Eurobonds
On 30 September 2021, an amendment to the Banking Act was published in the Collection of Laws, which was altered during the legislative process to also include an amendment to the Income Tax Act. This amendment…
Tax allowances for children will increase. The maximum limit for the payment of a monthly bonus will be abolished
On 27 July 2021, Act No. 285/2021 Coll. was published in the Collection of Laws, amending Act No. 586/1992 Coll., on Income Taxes, as amended, specifically the area of tax allowances for children as defined in …
What to watch out for when combining public support (subsidies or investment incentives) and R&D tax-deductible items?
Experience shows that a large number of companies only use one form of public support, whether these are subsidies or investment incentives, or an R&D tax-deductible item. In fact, these companies are often…
The Supreme Administrative Court has issued its first-ever statement on one-crown bonds
Recently, the Supreme Administrative Court was deciding for the first time on a case involving “one-crown bonds”. Surprisingly, the subject matter of the dispute did not concern the abuse of rights. The questio…
Transfer prices constantly on the radar of tax administration
The issue of transfer pricing is considered to be highly risky by the Czech tax administration and therefore it has been focusing on it in the long term during tax inspections. This trend is also confirmed by t…
Deadline for filing the income tax return: what to be aware of?
As we have already informed you, the rules modifying the deadlines for filing the income tax return changed on 1 January 2021 following the amendment to the Tax Code. These rules already relate to the taxation …
Tax Perspective of Interpretations of the National Accounting Board I-42 and I-43
In January 2021, we informed you about newly issued interpretations of the National Accounting Board I-42 and I-43 that cover the financial reporting of the exchange rate risk in receivables denominated in fore…