News

The option of extending the deadline for submitting tax return

The option of extending the deadline for submitting tax return

1 July 2021 remains the utmost deadline for submitting the income tax return (this applies to taxpayers, who have a statutory obligation to have their financial statement verified by an auditor, or if tax return is submitted by a tax consultant), i…
Increase of tax credit for the 2nd child and other children from 1 July 2021

Increase of tax credit for the 2nd child and other children from 1 July 2021

The Chamber of Deputies has approved an amendment of the act, when the tax credit for two and more children is to increase from 1 July 2021. The amendment being approved reckons with an increase of tax credit for the second, third and further…
Information on return of value added tax to persons liable to tax residing in the United Kingdom of Great Britain and Northern Ireland after the transition period has ended.

Information on return of value added tax to persons liable to tax residing in the United Kingdom of Great Britain and Northern Ireland after the transition period has ended.

On 18 May 2021, the General Financial Directorate published the Information with file no. 29374/21/7100-20116-010212 on return of VAT to persons liable to tax residing in the United Kingdom of Great Britain and Northern Ireland (hereinafter “the…
Prolongation of exemption from customs charges and VAT in case of import of goods for the purposes of the COVID-19 pandemic

Prolongation of exemption from customs charges and VAT in case of import of goods for the purposes of the COVID-19 pandemic

The Financial Administration has published the information on its website on prolongation of the time limit of exemption from customs charges and VAT for import of goods necessary for fighting against the effects of the spreading of the COVID-19…
A possible “prolongation” of the deadline for submitting income tax return is being discussed

A possible “prolongation” of the deadline for submitting income tax return is being discussed

The Chamber of Tax Consultants has turned to the general director of the General Financial Directorate, Ing. Tatjana Richterová, in the matter of a possible extension of the deadline for submitting tax return beyond 1 July 2021. We will see, if the…
Pension reform

Pension reform

This is a topic that probably concerns all of us, and we would therefore like to know, what the situation will be for us and if we can even expect any pension. The currently set rules are unintelligible, unjust and unsustainable, and for this reason…
The Czech National Bank has kept the interest rates on their current level

The Czech National Bank has kept the interest rates on their current level

At its meeting on 6 May 2021, CNB Bank Board kept the interest rates on their current level. The two-week REPO rate remains on 0.25 %, the discount rate on 0.05 % and the Lombard rate on 1 %.
Waiver of health and social insurance prepayments for the self-employed for January to July 2021

Waiver of health and social insurance prepayments for the self-employed for January to July 2021

Same as last year, the Parliament of the Czech Republic is proposing to remit health and social insurance levies for sole traders for the period of January to July 2021. The Parliament is explaining this proposal by saying that it wants to help…
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