VAT news [October 2023]
What is new in the amendment to the VAT Act approved by the Chamber of Deputies? How did the Court of Justice of the European Union rule on the question of whether or not a gift of higher value received by subs…
CESOP: Cross-border payments reporting obligation is about to come into force
With effect from 1 January 2024, an amendment to Act No. 235/2004 Coll., on Value Added Tax, will establish new obligations for payment service providers. They will have to newly record and report data on cross…
Market for comprehensive health insurance for foreigners opens up
The latest amendment to the Act on the Residence of Foreign Nationals has brought about a long-awaited change in the area of health insurance for foreigners. The monopoly of the PVZP insurance company has come …
Consolidation package heading to the Senate
On 13 October 2023, the consolidation package, or print no. 488 of the Chamber of Deputies, passed its third reading in the Chamber of Deputies of Parliament of the Czech Republic and was referred to the Senate…
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 …
Subsidy support for the development of research and innovation infrastructure
At the beginning of August, applications for the first call for Infrastructure Services were already open. The call will provide CZK 1 billion to support the development and improvement of research and innovati…
Favourable interpretation of the deadline for filing additional tax return for lower tax
After a lengthy period of interpretive ambiguity, the Extended Chamber of the Supreme Administrative Court (SAC) has issued a landmark judgment, departing from its previous case law regarding the deadline for f…
The Supreme Administrative Court has decided when interest on incorrectly assessed tax does not arise
In its July 2023 decision, the Supreme Administrative Court ("SAC") upheld the existing case law stating that a taxpayer is not entitled to interest on an incorrectly assessed tax if the taxpayer paid the tax b…
Support up to CZK 100 million for renewable energy sources from OP TAC
As of Wednesday 6 September, companies can apply for financial support for the use of renewable energy sources, specifically for the construction and modernisation of small hydropower plants and for the convers…