Forvis Mazars Tax View 6/2024

We would like to briefly introduce the content of the new edition of our tax newsletter. In the opening article, we will introduce you to a press release from the Czech Financial Administration regarding tax audits focused on transfer pricing, which indicates a growing interest from tax offices in this area.

The second article deals with the OECD report aimed at simplifying the application of the arm’s length principle for marketing and distribution companies, which is expected to be incorporatedinto the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations from 1 January 2025.

In the next contribution, you will read about a recent opinion of the Court of Justice of the European Union on the application of VAT in the case of non-monetary contributions to a business corporation’s share capital in exchange for newly issued shares, and the new questions and uncertainties this decision has raised.

In this edition, we have also summarized proposed changes in the employment of foreigners effective from 1 July 2024.

On the 7th of June, the president signed the amendment to the Income Tax Act, aiming to clarifydisputable matters arising from the adoption of the so-called consolidation package. Our comments on selected points of this amendment, which concern adjustments in the area of personal income tax, can be found in one of the articles.

We believe that you will find our articles stimulating and useful, and we wish you pleasant reading.