Taxes
Merciful summer for tax and social security debtors
Merciful summer for taxes
The Chamber of Deputies has approved the bill on extraordinary waiver and extinction of certain tax debts and submitted it to the Senate. The aim of the proposal is to give tax debtors the opportunity to get rid of…
Long-term investment product for old age
The government is currently debating an amendment that would introduce a new retirement savings product called the “Long-Term Investment Product.” The amendment will probably take effect on 1 January 2024. This innovative product will enable…
Groups of companies with consolidated revenues of more than EUR 750 million must prepare for a global minimum tax from the year 2024 already
As of 1 January 2024, an EU directive will come into force, under which the income of multinational and domestic groups in the EU with a consolidated turnover of a minimum of EUR 750 million will be subject to a 15% corporate income tax rate. From 1…
Overview and implications of the decision of the European Court of Justice (ECJ) of 27th April 2023 in case C-537/20
Proceedings I R 1/20 and I R 2/20, among others, are currently pending before the Federal Fiscal Court on the conformity of Sect. 11 of the German Investment Tax Act (GITA) 2004 with European law. The question is whether there is unequal treatment…
Government has shortened the period of temporary reduction of excise duty on diesel fuel
As we have informed you in our earlier articles, last year, in connection with the war in Ukraine, the government approved a reduction of excise duty on petrol and diesel by CZK 1.50 per litre (for more information, see here), with the lower rate to…
Case law on transfer pricing: profit mark-up on value added vs. total cost
In a recent judgment, the Regional Court in Brno dealt with a dispute between a taxpayer and the tax administration regarding the choice of a profitability indicator in the context of the evaluation of transfer prices of a Czech company engaged in…
Tax authorities will not penalise incorrectly filed tax returns this year
In connection with the establishment of a data box for a significantly expanded range of persons, the tax office has noticed a large increase in incorrectly filed income tax returns of natural persons or even legal entities due to non-compliance…
Abolition of the exemption of income from the sale of securities and shares above CZK 40 million
We would like to draw attention to one of the key issues that has been announced as part of the recovery package, but has not received as much media attention.
The government has proposed to completely abolish the exemption of income from the sale…