Tips and advice

Tax returns are a nightmare for many entrepreneurs. You'll make a mistake or two when filling it out. That's why, in addition to the regular tax return, there are amended and supplementary returns. We will advise you when to use them. Regular tax return A regular tax return is a tax return filed by the deadline set by the tax code. You must…

Do you file a tax return? Do you know how to do it? In practice, this obligation applies mainly to entrepreneurs. But if you earned income last year from, for example, selling property, renting out your home, stocks and bonds, or combining several part-time jobs at the same time, you may not be able to avoid it either. Deadlines for…

After the employees have started, you will be expected to handle payroll and regular contact with the authorities. Other formalities are involved when employees leave the company. Read on to find out what to think about. What to do before you start? As a new employer, you cannot do without registering with the tax office, health insurance…

The business is growing, so you decide to hire reinforcements. However, with the first employee comes a fair amount of administration. Here's what to remember. As an employer, you have a number of obligations to: Czech Social Security Administration (ČSSZ),health insurance companies,the tax officeand other institutions. Your first step is…

Starting a business requires careful preparation. However, in order not to make an important step blindly, it is worth mapping out the environment you want to enter with your idea in advance. Strategic analysis methods are used to assess the market situation, which you can use not only when setting up your company, but also for key management…

A business plan will give your idea of a new company a concrete form. It will help you not only in finding investors, but also in starting the business itself. Read on to find out what the plan should look like. What is a business plan? A business plan, or business plan, summarises the basic facts about an emerging business. It also outlines…

The flat tax is still a relative novelty in the Czech Republic. It promises less administration for entrepreneurs - but it pays off only for some. The following lines will help you determine if you are one of them. What is a flat tax? Flat tax is a special type of tax that self-employed people can voluntarily pay from 2021. It is a flat…

Once you've filled in and sent in your tax forms, all that's left to do is pay. But what information to use when paying your taxes? We'll explain the rules to make sure your taxes get where they need to go. Bank account for tax payment The bank account number depends on which specific tax or fee you want to pay. For…

When you register your company, you provide the address where you plan to formally establish your business. However, you can't use any location - there are legal criteria for the registered office too. Read on to find out what they are. What is the purpose of a registered office? The registered office is the place from which you officially run…

Do you plan to trade with countries outside the European Union? Then be sure to register with EORI to avoid problems at the border. Find out exactly what it is and how to get it in this article. What does EORI mean and what is it for? It is a unique identification number used in customs procedures. Every business that…

Business is booming; are you looking for opportunities for further growth? The solution may be to switch from a self-employed person to a limited company, i.e. to transfer your business from a natural person to a legal entity. We will advise you on how to make the change. Setting up an LLC and the subsequent change of business form is a minor…

Starting a business also involves initial investment. In addition to depositing the share capital, you need to complete several administrative steps to get your company off the ground. Most of these formalities are chargeable, so the establishment of an LLC will cost you several thousand crowns in total. What do I need to do and what are the…

Setting up a company in the Czech Republic involves a lot of administration. The whole process here takes even twice as long as in other developed countries. That's why it's good to have an overview of how to proceed. The procedure for setting up a limited liability company. Setting up a limited liability company takes time and patience. However,…

Thanks to the amendment to the Accounting Act, from 2022 you can ask the tax office to forward your company's financial statements to the registry court, which will publish them in the collection of documents. Would you like to take advantage of this possibility and make your work easier? Find out how to do it. What are the financial statements…

With high inflation, every extra crown is useful. You can support your family budget even if you already have a job. Just start a business as a "side job". Find out what it takes. What are the options? Running a business while working is not difficult in the Czech Republic. Apart from your time and effort, you only need to complete a few…

You have drawn up the articles of association and registered the company in the Commercial Register (OR) - unfortunately, the paperwork associated with the new Ltd. does not end there. You will soon be facing other administrative and tax obligations. We will help you navigate them. Tax obligations One of the first administrative necessities you…

Some of the costs of your business affect your income tax base and therefore the amount you subsequently pay to the state. However, other cost items will not affect the tax calculation. We have prepared a summary to help you understand the issues. How to know which costs are tax deductible? When preparing your income tax return,…

Paying taxes pleases few. Not only are you obliged to pay part of the money you earn to the state, but you don't miss out on the paperwork and possible checks. So you may wonder why anyone would volunteer to pay any tax. In the case of VAT, the answer is obvious - for many companies it pays. Are you one of them? And how do you voluntarily…

Are you planning to start a business? To start a company, you need a memorandum of association, which regulates the basic organisation of the company. Read on to find out exactly what it is and what it must contain. What is a memorandum of association? A Memorandum of Association is a document that establishes a company or cooperative…

Do you want to start doing business in the Czech Republic and you’re a citizen from another country? Don’t forget to take care of social security and health insurance. Compared to Czech citizens, registering for SS and HI as a self-employed foreigner comes with a number of specifics. Learn how you can avoid any complications. Duties, insurances,…