VAT News [November 2019]
The VAT Act amendment will not be passed by the end of 2019. The General Financial Directorate informed about the new VAT rounding rules. And the Court of Justice of the European Union ruled that member states …
VAT news [August 2019]
What is new in terms of VAT? During July, the Senate rejected an amendment to the Act on Electronic Sales Records. The presented motion to amend will thus be returned to the Chamber of Deputies. The General Fin…
VAT News in June
With regard to the changes in the conditions of cross-border trading with goods in the EU from January 2020, the European Commission has published material with a description of selected aspects of the new rule…
A New Transfer Pricing Guidance and the Czech Translation of the OECD Guidelines
The General Financial Directorate (the “GFD”) issued new Guidance D-34 on the application of international standards to the taxation of related party transactions. This guidance replaces existing Guidance D-332…
Outstanding Vacation Days – a reserve or an estimated payable?
Opinions as to the period in which costs of outstanding vacation days should be accounted for and how have changed over time. At first, they were not accounted for at all, then through estimated payables and ev…
On Whose Part Does Gratuitous Income Arise When the Lease and Sub-Lease Agreements are Terminated at the Same Time?
In cases in which the property owner enables the lessee to perform technical improvement on the property and to subsequently depreciate the improvement made, while no compensation is provided upon the lease agr…
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…