The key tax news of 2024
A number of tax changes came into force at the beginning of 2024. This article provides a summary of the most crucial ones.
Are better days ahead for the R&D tax deduction checks?
Effective from 1 January 2024, Section 34c of the Income Taxes Act has been amended by adding a new provision stating that in case of doubts by the Tax Administrator, the content of the project documentation ca…
Long-term investment product is a new option for saving for retirement
President Petr Pavel signed an amendment to the Act which, among other things, provides an alternative to existing state-supported products intended to provide financial security in retirement. The bill modifie…
What is new in real estate taxation?
As part of the consolidation package, the Real Estate Tax Act has also been amended. Most of the changes will already be relevant for the upcoming year 2024. Although many of the changes will be reflected autom…
Proposal to change the taxation of employee stocks under ESOP
A new regulation on the taxation of employee stocks was submitted on 24 October 2023 within draft amendment No. 3452 to the Government Bill amending certain acts in relation to the development of the financial …
European Commission issues draft transfer pricing directive
On 12 September 2023, the European Commission published a proposal for a transfer pricing directive (the “EU Directive”) as part of the so-called “BEFIT” package. In addition to introducing a common EU-wide inc…
Restrictive interpretation for the application of the 5% tax rate for SICAV sub-funds
In its recent judgments, the Municipal Court in Prague has supported the interpretation of the tax administration and rejected the application of the 5% corporate income tax rate to sub-funds of companies with …
Consolidation Package: Proposed changes to employee benefits
As we have already informed you, the draft Consolidation Package entered the legislative process on 30 June 2023. The external comment procedure led to some changes to employee benefits, with further adjustment…
Transfer pricing: judgment on the including the depreciation of valuation difference in the cost base
The Regional Court in Hradec Králové issued judgment No. 31 Af 21/2022-99 on transfer pricing, where it confirmed the tax administrator’s view that when a valuation difference arises in an intra-group restructu…