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Do you pay royalties abroad? And are you sure who is the actual recipient? Find out when you pay the full amount of withholding tax on royalties and when you can reduce it on the basis of double taxation. What are royalties? In the Czech environment, royalties are defined by the Income Tax Act (§19 of the Income Tax Act). Such…

The Ministry of Finance is working intensively on an extensive amendment to the Value Added Tax Act. The first changes will come into force on 1 January 2025, with more to follow until 2027. Changes to the Value Added Tax Act The current version of the VAT Act can be found under 235/2004 Coll. We have prepared an overview of the main changes…

You probably know who the CEO is, but do you have any idea what the CTO is responsible for, what the COO does, and when to turn to the CFO? Find out the difference between each leadership position and how they can help your company grow. Top management organization The rapid growth of companies brings with it the need to optimize their…

The amendment to the Labour Code changes many of the previously established rules for performance of work agreements (DPPs). The popular method of earning extra income is now subject not only to central registration but also to new limits for levies. Join us for a look at the main changes that will affect DPPs in 2024/2025*. …

A business cannot do without a business plan. Whether you have your vision, mission, and goals in your head or actually described in detail, the Lean Canvas method will teach you how to work with them in a whole new way. Quickly, flexibly and, above all, with maximum clarity. What is Lean Canvas? We explain the Lean Canvas method in…

Attempts to defraud businesses are increasing and becoming more sophisticated - from emails from external and internal sources to fraudulent SMS, fake calls or imitation registers. We've put together a glossary of the most common terms associated with fraudulent behaviour and explain how to spot fraud and protect your data and finances. …

The vision, mission and values summarize the company's main ideas and mission and are part of the business plan. Thanks to them, you and your employees will have an imaginary map of the company's journey and everyone will be clear about where you are heading. Such an overview will make planning easier and help you make decisions. Find out how to…

Are you planning to sell your apartment and wondering how to tax this income? The procedure for selling a condominium is different from selling a privately owned unit. We'll explain how to properly tax the income from the sale of a personal and cooperative apartment and when you can avoid this tax altogether. Taxation of income from the sale of a…

The popularity of company nurseries among employee benefits is steadily growing. Running a company nursery makes it easier for parents to return to work, reduces recruitment costs for new employees and saves parents time and money. However, the consolidation package has brought uncertainty to an established model and companies need to revalue this…

If you are acting on behalf of a business corporation, you will usually encounter a situation during your business activities when you need to modify a certain entry in the Commercial Register (CR). Here is an overview of the most common reasons for changing a CR entry and how to make the change in practice. All mandatory and optional data…

The government's consolidation package brings many changes and unpopular decisions. However, not all of the innovations are bad and some of them will even simplify business for self-employed entrepreneurs - such as the abolition of the previously mandatory income tax registration with the tax office (FÚ). Compulsory registration for new self…

Have you set up a business and want to learn more about how to calculate your profit and loss, which types of profit and loss you can evaluate and how to draw on them in the future? Here is an overview of the most important profitability indicators. Why pay attention to the economic result? The profit and loss statement tells you about the…

The monitoring of the impact of business on the environment (E), employees and society (S) as well as topics related to management (G) are being included in Czech legislation. Companies will now prepare a so-called sustainability report. In 2024, this obligation will affect only the largest companies, but will gradually apply to other companies.…

The current accounting rules are based on legislation that was introduced in 1991. Although there have been a number of amendments to the Act itself and the related implementing decrees, they are often no longer sufficient for the current economic reality. The State is aware of this and is therefore preparing a completely new Accounting Act. Find…

Have you started a business and your company was established in the last 3 months of the year? Postpone your first corporation tax return until next year! We will tell you how to proceed. Who can extend their accounting period? If your company was established between 1 October and 31 December, you can apply to the tax office for an extension…

Every year in the spring, (not only) entrepreneurs have an unpleasant duty - filling in the tax return form. We will tell you how to deal with the document. Who fills in the tax return and how? According to the Income Tax Act (ITA), all entrepreneurs with an annual taxable income of over CZK 50,000 (or CZK 20,000 if you are an employed…

You pay one amount each month, which includes social security, health insurance and income tax. The flat-rate tax has relieved you of annoying paperwork so you don't have to worry about tax returns. But don't rejoice prematurely - it doesn't always apply! Find out which exemptions to look out for. Flat-rate tax and tax returns - when to…

The due date for the payment of the real estate tax (or the first instalment) is 31 May 2024. Last year, in order to save money, the tax administration abolished the paper postal vouchers that were traditionally sent to real estate taxpayers during May. Payment of the tax by postal order has not been charged until now, which is changing.…

Running a business as a sideline is an ideal option for anyone who wants to earn extra money for their studies, employment or even maternity leave. Compared to your main gainful activity, it brings a number of advantages - you pay lower taxes and often do not even have to pay social security and health insurance contributions. What are the other…

As part of the consolidation of public finances, the government has introduced measures to help the over-indebted treasury, the so-called consolidation or recovery package. It was signed by the President on Wednesday 22 November 2023 and subsequently published in the Collection of Laws. Most of the adjustments concern taxes and other compulsory…