At its meeting on 24 November 2022, the Senate approved a tax package that included a proposal for a Windfall Tax (tax on extraordinary profits) in the wording approved by the Chamber of Deputies. Therefore, the conclusions, which we have informed you about here, apply.

At the same time, other changes in corporate income tax, which we mentioned here, and changes in the taxation of individuals, which we have summarised here, will come into force.

As part of the tax package, the long-awaited amendment to the VAT Act has been approved, introducing compulsory VAT payment only for turnover above CZK 2 million over 12 months, which we informed you about here.

Author: Daniela Riegel