New Act The new Act on Registration of Beneficial Owners (“AML Act”) brings significant changes in the regulations for recording of beneficial owners. Implementation of penalties for contravention of record-keeping obligations is fundamental. Members of statutory bodies, beneficial owners, but also obliged entities, such as accountants, auditors and tax advisors, pursuant to the AML Act…
Taxes and accounting
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Accounting of subsidies from the COVID rent III program
Read moreFiling requests in this program was closed on 8 April 2021 and numerous accounting entities have posed the question as to how to account these subsidies. Especially confusing for accounting entities is the fact that the months of October, November and December 2020 constitute the applicable period for which support has been provided, and are…
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New subsidy programs
Read moreWe would like to draw your attention to subsidy programs that were announced at the beginning of April. After the announcement, certain conditions of the program were further clarified; the text below draws from information announced on 9th April 2021 on the Ministry of Industry and Trade web. There are two programs, from which entrepreneurs…
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The Antivirus Program
Read moreThe Antivirus Program has been extended to 30. 4. 2021, but only for those employers who accept changes stemming from Cabinet Resolution No. 186/2021. Certain conditions, for which allowances are granted, have changed; see below. These changes will be implemented into agreements closed after 28. 2. 2021 – in the form of a supplement to…
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Quarantine allowance “izolačka”
Read moreFrom 1. 3. 2021 to 30. 4. 2021, employees are eligible for a special allowance during quarantine (isolation) by order. The employer pays them the allowance. The employer deducts these allowances from social security insurance and the contribution to the state employment policy. The allowance is determined for an employee who has been under quarantine…
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Pardoning VAT for supply of listed goods
Read moreThe Ministry of Finance has followed up on the current pardon of VAT pursuant to the Minister of Finance’s ruling on VAT pardoning due to special events, made public in Finanční zpravodaj No. 8/2021 on 1. 2. 2021, about which we had already informed you in our Newsletter No. 3/2021. If an obligation arises to…
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“Postponement” of deadlines for filing tax returns – a general pardon
Read moreWe would like to inform you that a general pardon was declared in Finanční zprvodaj (Financial Newsletter) 16/2021, enabling one to file (without penalty in the form of a fine for overdue tax statements) individual and corporate income tax returns (if the tax period is the calendar year) by 3. 5. 2021 where filing the…
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General pardon on obligations for VAT payers and identified persons
Read moreWe would like to inform you as to new reliefs which were made public in Finanční zpravodaj (Financial Newsletter) No. 13/2021. The Minister of Finance has ruled on pardoning of fines A) for late filing of VAT tax returns for the February 2021 period and B) for late filing of supplementary VAT tax returns which…
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Intragroup transactions and the new OECD instruction for financial transactions
Read moreIn connection with the issue of the instruction for transfer prices in financial transactions, which supplements the OECD Directive on transfer prices for multinational businesses and tax administrations (2017), we would like to draw attention to the fact that that one can expect the activity of tax administrators in the context of audit activity focused…
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Latest Posts
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TPA won in the category Best Tax & Finance Advisor, thus defending its victory last year at the CIJ Awards competition
1. 12. 2023
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TPA awarded SOS Children's Villages the Special Prize for the Best Annual Report
1. 12. 2023
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TPA donated CZK 35,000 to Dlaň životu as part of Giving Tuesday
15. 11. 2023
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TPA donated CZK 20,000 to support the Trust Line
15. 11. 2023
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TPA covered the costs of the school club
15. 11. 2023
Meal voucher flat fee – yes or no?
As of 1st January 2021, the new institute of the so-called meal voucher flat fee was added to Czech legislation. In view of the fact that we are often asked by our clients as to its advantages or possible pitfalls, we would like to put forward several arguments which should be taken into account when…