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Higher credit for a second child and for further children approved Tax & Accounting

On 27 July 2021, Act no. 586/1992 Coll., on Income Taxes, as amended (hereinafter the “Income Tax Act”), was changed, bringing new regulation of tax credit...

Roman Burnus
Marek Toráč
| 4 min read | August 27, 2021
Waiver of VAT on respirators - prolongation COVID-19

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...

2 min read | August 25, 2021
Income tax credit in the case of stopped distrainments Tax & Accounting

The amendment of the enforcement code brings a change in the income tax on grounds of stopped distrainments. These are unenforceable distrainments of...

Roman Burnus
| 3 min read | August 18, 2021
Final sale of heated tobacco products Tax Audit

In connection with the gradual change in the tax rates for tobacco products in the stages from 1 Feb 2021, 1 Jan 2022 and 1 Jan 2023, the ban on the sale and...

3 min read | August 3, 2021
Children's groups Tax Audit

The Chamber of Deputies has approved the funding of children's groups from the state budget. The support will be linked to contracts with the parents and...

3 min read | August 2, 2021
New rules for deducting interest on housing finance loans Tax Audit

With the entry into force of Act No. 386/2020 Coll., repealing Senate statutory measure No. 340/2013 Coll., on the Tax on the Acquisition of Immovable...

Marek Toráč
| 5 min read | July 26, 2021
Prolonged guarantee and VAT – exempted insurance activity Tax Audit

In its recent decision in the case C-695/19 (Rádio Popular), the European Court of Justice provided answers to preliminary questions regarding VAT assessment...

5 min read | July 23, 2021
Rules and consequences of the extensive waiver of default interest in connection with the COVID-19 pandemic Tax Audit

In connection with the extraordinary situation relating to the COVID-19 pandemic, the finance minister issued several decisions last year and this year,...

6 min read | July 21, 2021
Tax perspective on donations to victims of natural disasters Tax & Accounting

Act no. 586/1992 Coll., on income taxes as amended (hereinafter the “ITA”) governs provided gratuitous transactions (donations) from the perspective of being...

5 min read | July 20, 2021
Introduction of carbon levy Tax & Accounting

As part of the “Carbon Border Adjustment Mechanism (CBAM)”, the European Commission has proposed the introduction of a carbon levy, which is to take effect...

2 min read | July 19, 2021
Waiver of VAT on respirators - prolongation COVID-19

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...

2 min read | July 8, 2021
Regions affected by the tornado will receive tax relief Tax & Accounting

In connection with the extraordinary event – a tornado in the districts of Břeclav and Hodonín, the Finance Ministry published Financial Newsletter no....

5 min read | July 8, 2021
Confirmed by the Supreme Administrative Court: taxpayer is entitled to interest on interest Tax Audit

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...

7 min read | June 29, 2021
Practical procedure for electronic trade: new VAT rules expected to take effect from 1 July 2021 Tax & Accounting

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...

4 min read | June 28, 2021
Shortening of the deadline for applying excise tax Tax Audit

Based on fresh case law of the Supreme Administrative Court, the Customs Administration of the Czech Republic has announced a change in administrative...

3 min read | June 25, 2021
DAC7: new regulations to increase tax transparency in the digital economy Advisory

The European Commission has adopted new rules to increase tax transparency in the digital economy (DAC7). Digital Platform Operators will have to identify,...

6 min read | June 22, 2021
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