Public Consultation on Virtual Currencies
We would like to draw your attention to an initiative of the Ministry of Finance (MF) which has raised the topic of cryptocurrencies, or virtual assets, and the blockchain technology.
TaxAlert: Complications in calculating the super-gross salary from January 2019
The President of the Czech Republic signed the amendment to the Income Taxes Act on 11 December under which employers will have to distinguish a country in which an employee participates in a system of compulso…
GFD’s New Guidance Note on the Binding Assessment of Transfer Pricing and the Method of Determining the Tax Base for Permanent Est…
On 9 November 2018, a new guidance note, D - 32, of the General Financial Directorate (“GFD”) was published in the Financial Bulletin of the Ministry of Finance on the binding assessment of the pricing method b…
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…
Hard versus soft Brexit. What will the divorce agreement with the EU bring?
The time of the withdrawal of Great Britain from the EU is inexorably approaching and the issue of Brexit has become a frequent topic of discussions. Although the political process regarding Britain’s withdrawa…
Ruling: Correction of Accounting Errors and Tax Base Implications
This article summarises the key information arising from judgment 3 Afs 28/2017 – 43 which was issued in October 2018, addressing two areas as follows: corrections in accounting records including implications f…
Possible Changes in the Real Estate Acquisition Act
The Czech Pirate Party has prepared a draft amendment to the ordinance on real estate acquisition tax which, if approved, would decrease the tax rate on the acquisition of real estate for natural persons purcha…
The Court’s New View on the Utilisation of Clinical Studies as Part of the R&D Deduction
The Supreme Administrative Court (the “SAC”) has found against Vestra Clinics s.r.o. (the “Plaintiff”) in the matter of the possibility of utilising clinical studies as deductible items for research and develop…
Tax changes in the taxation of investment funds: New corporate rate of 19 %
In the June issue of dReport, we informed you about the amendment included in the planned change in the taxation of basic investment funds. On 19 July 2018, an act was adopted (with effect from 1 January 2019) …