Taxes

Regions affected by the tornado will receive tax relief

Regions affected by the tornado will receive tax relief

In connection with the extraordinary event – a tornado in the districts of Břeclav and Hodonín, the Finance Ministry published Financial Newsletter no. 26/2021 of 29 June 2021, which enables deferring some tax obligations. Deferral of tax…
Waiver of VAT on respirators - prolongation

Waiver of VAT on respirators - prolongation

The Finance Ministry is prolonging the waiver on VAT during local supply of respirators including their purchase from another member state and import, from 1 July 2021 to 31 August 2021. This decision published in the Financial Newsletter no. 25…
Confirmed by the Supreme Administrative Court: taxpayer is entitled to interest on interest

Confirmed by the Supreme Administrative Court: taxpayer is entitled to interest on interest

This article is dedicated to a legal opinion expressed by the case law of the Supreme Administrative Court regarding the question if entitlement on interest from unjustified action of the tax administrator under the stipulation of article 254 of act…
Practical procedure for electronic trade: new VAT rules expected to take effect from 1 July 2021

Practical procedure for electronic trade: new VAT rules expected to take effect from 1 July 2021

On 21 June 2021, the General Financial Directorate issued information on the amendment of the VAT act in the area of electronic commerce (e-commerce) with planned effect from 1 July 2021 that we already informed you about in our previous article.…
Shortening of the deadline for applying excise tax

Shortening of the deadline for applying excise tax

Based on fresh case law of the Supreme Administrative Court, the Customs Administration of the Czech Republic has announced a change in administrative practice for assessment of the beginning of the six-month deadline for applying entitlement to…
DAC7: new regulations to increase tax transparency in the digital economy

DAC7: new regulations to increase tax transparency in the digital economy

The European Commission has adopted new rules to increase tax transparency in the digital economy (DAC7). Digital Platform Operators will have to identify, trace and report on revenues made by sellers on their digital platforms and will have to…
Retroactive use of tax loss, waiver of its application and shortening of the preclusive period?

Retroactive use of tax loss, waiver of its application and shortening of the preclusive period?

Slowly but surely, the standard deadline for submitting corporate income tax return with the taxable period of a calendar year has been approaching. Due to the government restrictions in 2020 and the general weakening of the economy, among other…
Complex management of the digital currencies agenda  (cryptocurrencies)

Complex management of the digital currencies agenda (cryptocurrencies)

We currently encounter questions about automated or algorithmic trading on financial markets increasingly more often, about trading on unregulated cryptocurrency exchanges or about using cryptocurrencies as means of payment. Related questions…
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