News

No entrepreneur can avoid registering for value added tax (VAT) when sales are higher. The obligation to pay VAT depends on the amount of turnover. We will advise you how to calculate it correctly. Who is obliged to pay VAT? According to Section 6 of the VAT Act, a taxable person (simplified as an entrepreneur carrying out economic activity)…

Is your company officially based outside the EU and yet you are registered as a VAT payer in the Czech Republic? Then you must comply with the new legal obligation to communicate with the Czech authorities by the end of February 2025. Read how to do it. New rules for communication between foreign companies and the Czech authorities The amendment…

Amendments to the law change many of the rules that have been in place for performance work agreements (PWAs). This popular way of earning extra income is not only subject to central registration, but also to new rules and a cap on levies. Join us for a look at the main changes affecting PPAs in 2024/2025*. What is a…

Are you doing business in the Czech market, but would you like to relocate your company to Malta, Switzerland, USA or vice versa? We will introduce you to the amendment to the Act on Company Conversions, which newly facilitates the conditions for changing the seat of a company outside the EU. What does the amendment to the Company…

You have probably already encountered terms such as mergers, acquisitions or company splits. The amendment to the Business Corporations Conversion Act now introduces a new concept, the spin-off. Find out how spin-offs differ from other types of conversions and how they work in practice. What is a corporate conversion by spin-off? In July 2024,…

The minimum wage is not only the lowest possible remuneration for work, but also affects other amounts. Find out how it works, who sets it, how to calculate the correct minimum wage per hour for different types of jobs and what changes to prepare for from 2025. What is the minimum wage and how is it set? Minimum wage means the lowest allowable pay…

The fundamental change to the Accounting Act will lead to amendments to a number of accompanying laws. One of them is the Income Tax Act (ITA), which should undergo a complete transformation. Find out how the terminology and tax depreciation rules you have been used to will change. Planned changes to the Income Tax Act The amended Income Tax Act…

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…

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…

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…

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…

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.…

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…

The recently adopted tax consolidation package brings a number of innovations. Find out the main changes to the real estate tax, who has to file a new tax return and how to do it. What's changing from 2024? Adjustments to the paved area rules One of the modified areas is the so-called paved area. Until now, taxation of paved area was only…

The Financial Administration informed about the launch of a pilot project for pre-filling the real estate tax return. Find out how it works and make your work with the forms easier. The new feature will make it easier for you to fill in the form Finding out data and filling in the real estate tax return is quite complicated. That's why the…

In addition to tax changes, the consolidation package will also bring innovations in the area of accounting. They will affect the definition of turnover, accounting in foreign currencies and taxation of unrealised exchange rate differences. Read what the government is planning from 2024. Changing the definition of turnover Net turnover was…

The beginning of the school year brought not only the return of children to their classrooms, but also important news from the world of accounting and taxation. The opinions of the CNB and the Supreme Administrative Court have a major impact. Let's summarise them in a nutshell. Additional tax returns are due to be relaxed The Supreme…

International tensions are also reflected in the sphere of taxation. Businesses trading with Russia are now facing a higher tax burden. Read what's changing. Russia has suspended an earlier agreement In August, Russian President Putin signed a special decree that will complicate tax relations between the Czech Republic and the Russian…

As of 1 July 2023, an amendment to the Business Corporations Act (ZOK) will come into force, which will facilitate the establishment of companies. In particular, the conditions for members of elected bodies of companies will change. See how. The state has launched a new register The registration of excluded persons is a fundamental change. This…

After a year's break, we are once again facing the Summer of Grace - a state event aimed at debt relief for citizens. Debtors can easily and cheaply resolve their debts to the state administration. We will advise you how to take advantage of this chance. What debts are affected? This year, the state will forgive various penalties incurred…