Taxes and Accounting

Looking for a deadline for your financial statements? Need to know more about VAT or how to fill out your tax report? In this section you’ll find everything your company needs about taxes and accounting.


Thanks to a recent amendment to the law, many companies are no longer affected by the road tax. Since the change occurred only during the year, many businesses have overpaid the tax. Are you one of them? Road tax overpayments exceed one billion During 2022, the Road Tax Act was amended due to economic developments. This amendment…

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Selling a property can raise a decent amount of money in today's market. However, this amount is also subject to income tax, which can easily run into hundreds of thousands of crowns. Fortunately, the law sometimes allows this income to be exempt from tax. We have written down the conditions you need to meet. Basic criteria: length of ownership…

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Thenew year traditionally brings a number of legislative changes. Some of them will also affect entrepreneurs. For example, self-employed persons must adjust their payment orders to new amounts. The new amounts are based on the average wage Even in 2023, we will not be able to avoid the usual increase in monthly payments. Why? In the Czech…

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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…

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The tax deductibility of costs is a very complex topic, in which many companies struggle and some even try to shortcut the tax. How the administrative authorities deal with such a situation is shown by two cases concerning advertising, which were considered by the Supreme Administrative Court (SAC) in 2022. Tax (dis)deductibility of advertising…

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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,…

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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…

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As a result of the turbulent economic situation and the general increase in prices (inflation), the decree regulating the amount of reimbursement for meals or the average price of fuel has been updated. How is the average fuel price changing? Due to the evolution of fuel prices on the market, there is an adjustment, although now only…

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Do you use your car for business and private purposes? Make sure you keep the necessary records. Many people use their cars for business and personal use. However, be sure to keep the different uses separate on your records. If you do not keep proper records, the tax authorities can easily reduce your input VAT deduction. Natural persons who…

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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,…

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The tax administration has detected irregularities in the tax returns of a number of taxpayers. The major irregularities were mainly related to the taxation of cryptocurrency income. Auditors will therefore focus on this area again. Will this affect you? Hundreds of millions of dollars of data don't add up A few days ago, the General…

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Despite the beginning of the holidays, including the parliamentary ones, it is not a bad idea to summarise what changes in the field of taxes are planned for the next year. Their final form will depend on the legislative process, but a number of the items under discussion have relatively broad support across the political spectrum, so their…

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The establishment of a company also entails tax obligations. The first step in this area is to register the company for income tax. Learn how to do it and what else to look out for. Basic facts about VAT Corporate income tax (CIT) is compulsorily paid to the tax office by every legal entity doing business in the Czech Republic.…

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What does it mean that a company or self-employed person is a VAT payer, how to register for VAT and when is it worthwhile? Find out the answers to these questions in the article. Who is a VAT payer? A VAT or value added tax payer is a legal or natural person who can purchase goods or services at a "discount" for the purposes of their…

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From 1 July 2022, two amendments relating to road transport will enter into force. Which are they and what do they change? ROAD TAX NOW ONLY ON LARGE VEHICLES The first amendment relates to the Road Tax Act. In order to limit the impact of the war in Ukraine on taxpayers, the government decided to significantly narrow the road tax, i.e. to limit…

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A side business is an ideal option for anyone who wants to earn extra money to supplement their studies or employment. Compared to your main occupation, it brings a number of advantages - you pay lower taxes and often you are not even subject to monthly insurance premiums. What are the other specifics of self-employed secondary activities? …

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Some mistakes are repeated in tax returns every year, even though the tax administration draws attention to them. Find out which ones - you'll increase your chances of getting your return right first time. Plus, we've prepared a guide on what to do if you've filed a return with an error. WHAT TO LOOK OUT FOR TO AVOID MISTAKES IN YOUR TAX RETURN …

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The closing of the accounts for the previous year and the compilation of the statements is in full swing. This is often linked to decisions about profit-sharing payments. How to proceed from a tax perspective? HOW ARE DIVIDENDS PAID IN THE CZECH REPUBLIC TAXED? Unfortunately, the payment of a profit share is subject to taxation, namely a withholding…

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You are probably most familiar with data digitization in connection with the IT world. But what about the digitisation of accounting - do you know what to think of this term and how to automate and simplify accounting processes? We will answer your questions in this article. After reading it, you'll have a clear understanding of what digital and online…

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Under the flat-rate scheme, you pay one amount each month, which includes social security, health insurance and income tax. The flat-rate tax gives you relief from administration so you don't have to worry about filing your tax return. But beware, it doesn't always apply! Find out which exemptions to look out for. FLAT-RATE TAX AND TAX RETURN - WHEN…

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