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Forvis Mazars Tax View 12/2024
In our first article, we follow up on our previous issue, where we introduced the changes that the VAT Act amendment will bring from the beginning of 2025. This time, we focus on changes that will come into effect later. We continue with the VAT topic in the second article, which presents a package of changes known as VAT in Digital Age (ViDA). This reform of the European Union VAT system includes, among other things, the introduction of mandatory electronic invoicing and digital reporting within the EU.
Furthermore, in this issue, you can read about the new obligation for selected accounting entities to prepare and make accessible the so-called Income Tax Report, which was implemented into Czech legislation as part of the Accounting Act Amendment.
The next article will introduce you to modifications in the taxation of agreements to perform work and changes in the taxation of employee benefits from 2025, along with a positive development regarding the extension of the increased limit for income tax base deductions for donations.
In the final article, we focus on the simplification of rules for taxation of Employee Stock Ownership Plan (ESOP) income, which should bring greater flexibility and administrative relief for employers.
We believe that our articles will be useful and help you navigate through the upcoming changes.