At the end of March 2022, the Ministry of Industry and Trade (hereafter to be referred to as “MIT”) published on its website the official calls of the COVID subsidy programmes COVID – 2022 – Sectoral Support and COVID – Uncovered Costs – Sectoral Support. As announced by the MIT in a press release during…
Taxes and accounting
-
Lex Ukraine – addressing the situation of refugees in employment, health, social security and other areas
Read moreOn 21 March 2022, (following the (EU) Council Decision) the so-called Lex Ukraine – a set of three laws designed to address assistance to refugees from Ukraine – entered into force. Among other things, they address the legal status of refugees, their employment, access to healthcare, social security or education. The law has been enacted…
-
Donations to Ukraine will be tax deductible
Read moreOn 9 March 2022, the Government approved and submitted to the Chamber of Deputies a draft act extending the tax benefits of charitable activities in support of Ukraine’s defence efforts against aggression by Russia (hereafter to be referred to as the “Act”). The Act also implements an income tax exemption on selected donations for recipients.…
-
The Country-by-Country Report will be made public
Read moreThe so-called Country-by-Country Report (“CbCR” or “Report”) is one component of the transfer pricing documentation obligation. In the Czech Republic, the obligation to compile the CbCR was implemented in 2017 (for the period starting in 2016) and until now it has been the only mandatory document of the Master file, Local file and CbCR triad.…
-
The activity of the financial administration in the context of transfer pricing audits
Read moreIn recent years, there has been an increased amount of interest on the part of the tax administration in the area of transfer pricing. The intensity of audits has been increasing practically continuously since 2014, when the obligation was implemented to complete a separate supplement concerning transfer pricing in the context of corporate income tax…
-
Jana Skálová has again been elected to the Presidium of the Chamber of Tax Advisors
Read moreJana Skálová (TPA) was elected as one of nine members of the Presidium of the Chamber of Tax Advisors for the period 2021-2024. At the 29th regular Annual General Meeting, the Chamber of Tax Advisors also elected the president and vice-president. Petra Pospíšilová successfully defended her post as president and Petr Toman was elected as…
-
Polish Deal. Tax changes – draft bill
Read moreOn October 1, 2021, the Sejm adopted a package of amendments to tax laws implementing the tax provisions included in the economic program known as the Polish Deal. The bill will now go to the Senate. According to the government’s plan, the new regulations are to enter into force from the beginning of 2022, which…
-
The issue of “persons otherwise associated” in commercial relationships
Read moreOn 18th August 2021, the Supreme Administrative Court of the CR (hereinafter to be referred to as “SAC”) issued ruling Ref. No. 1 Afs 109/2021 – 67, in which it focused on the issue of associated persons and advertising costs. A tax subject ordered an advertisement for sports grounds through an intermediary. The tax administrator,…
-
Pardoning of VAT for electricity and gas supplied in November and December 2021
Read moreIn Finanční zpravodaj no. 34/2021 on 20th October, a ruling by the Minister of Finance (“Ruling”) [1] was made public, by which VAT is to be pardoned due to the sharp rise in gas and electricity prices. On the basis of this Ruling, VAT is pardoned on supply of electricity or gas (or when purchasing…
-
Transfer prices and COVID-19
Read moreOn the last day of March, the Financial Administration of the CR published a Czech translation of the recommendation for taxpayers and the financial administration on how to proceed when applying regulations in the area of transfer prices when assessing the period affected by the COVID-19 epidemic (hereafter to be referred to as “Instructions”) which…
