After lengthy debates last month, the government presented various areas of the consolidation and economical package, aimed at stabilizing the state budget. In the opening article, we have summarized its most important points regarding the tax area.
In the next article, we will introduce you to the decisions of the Supreme Administrative Court and Constitutional Court, which dealt with the question of whether the tax administrator is authorized to use camera recordings to challenge the logbook. Furthermore, we will outline the three main pillars of the so-called ViDA package (VAT in the digital age), recently introduced by the European Commission, which will affect the majority of business entities based in the EU in the future. Significant changes to VAT for immovable property are coming soon, so we have prepared an overview of the most important ones for you.
As there has been a significant increase in tax authority audits in the field of transfer pricing last year, in the last article, we describe the areas of this issue that require increased attention.
We believe that our articles will be helpful and thought-provoking for you, and we wish you enjoyable reading.
The government led by Prime Minister Petr Fiala presented a consolidation package last month, which is expected to bring savings of 94 billion Czech crowns to the state budget this year and 148 billion Czech crowns after two years. The recovery package consists of 58 measures aimed primarily at reducing the budget deficit. The long-discussed pension reform is also part of the measures. Below, we...
The Constitutional Court decided on a case in which the tax administrator used police camera recordings to challenge the logbook and rejected the claimed VAT deduction for the purchased vehicle.
The European Commission’s action plan called ‘VAT in the digital age’ (hereinafter as ‘ViDA’) proposed a notable changes to the current VAT legislation. These changes aim to enhance the EU VAT system’s resilience to fraud and modernize it to adapt to the digital age. As ViDA package will be applied to all sales of goods and services to customers in the EU, all businesses based in the EU will be affected...
In the near future, there are several changes expected in the field of VAT for immovable property. From 1 January 2024, an amendment to the VAT Act should come into force in connection with the adoption of Act No. 284/2021 Coll., which amends, among other things, the VAT Act in connection with the new building regulations (hereinafter the ‘Amendment’). There is also a discussion about the publication...
Current statistics on the results of tax audits show that the Czech tax authorities’ interest in tax audits related to transfer pricing is growing again, following a temporary reduction in the 'accessibility' of the tax authorities during the COVID-19 pandemic. Both key variables monitored (i.e. additional tax assessed and additional increase in the tax base) increased by more than 70% in 2022 compared...
Mazars published for the eleventh time its regional tax guide, which presents snapshots and comparative charts of the tax systems of 25 CEE countries for 2023.
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