VAT news [January 2023]
The General Financial Directorate has published two key pieces of information relating to the current amendment to the VAT Act. The Ministry of Finance has published in its newsletter a new methodology for the …
Tax authorities issued new methodology for the interpretation of Income Taxes Act
Last December, the General Financial Directorate (“GFD”) issued the long-awaited instruction GFD-D-59 on a uniform procedure for the application of certain provisions of Act No. 586/1992 Coll., on Income Taxes,…
VAT news [October 2022]
What is new in indirect taxes? The expected amendment to the VAT Act is still pending in the Chamber of Deputies. The Coordination Committee of the General Financial Directorate and the Chamber of Tax Advisors …
Waiver of levies for breach of budgetary discipline and penalties
In a recent article, we introduced the possibility of reducing sanctions imposed by the Financial Administration of the Czech Republic due to tax arrears or additional tax assessment. This time, we are focusing…
VAT news [June 2022]
The Coordination Committee of the GFD and the Chamber of Tax Advisors of the Czech Republic has adopted a decision on the tax treatment of prematurely terminated energy supplies in the event that one of the par…
General Financial Directorate released information on cryptocurrency taxation
On 31 March 2022, the General Financial Directorate (GFD) published information on the website of the tax administration of the Czech Republic regarding the tax assessment of transactions with cryptocurrencies,…
General Financial Directorate updates the interpretation of the Income Taxes Act
Inseparably linked to the Income Taxes Act (“ITA”) is the official instruction of the General Financial Directorate (“GFD”) on a uniform application of certain ITA provisions. Currently, guidance D-22 ref.no. 5…
VAT news [March 2022]
In the March VAT news, you will learn what rules for tax relief apply to the supply of goods in connection with the humanitarian crisis in Ukraine, what tax rates contact lenses are subject to according to the …
VAT news [February 2022]
Should the compensation of cost incurred in connection with wage deductions of employees under enforcement proceedings be subject to VAT? How should leasebacks be regarded from the VAT perspective? Should the s…