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.


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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On 28 February 2022, the tax portal at adisepo.mfcr.cz ceased to operate and the tax information boxes on this website can no longer be accessed. So where to file your tax return online in 2022? MODERNISED TAX PORTAL MOJEDANE.CZ A year ago, the Financial Administration launched a new tax portal Mojedane.cz and from this year all electronic filings will be…

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There are over 500,000 registered legal entities in the Czech Republic, but 20% of them are not actually doing business. The number of "dormant companies" has declined in recent years, but their owners should beware. What about the tax return for an inactive company with no income? Find out in this article. CORPORATE INCOME TAX RETURNS: WHAT IF YOUR…

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The new year brings changes in taxes for entrepreneurs and employees, as well as a number of legal innovations. Higher minimum wage and taxpayer's rebate, increase in insurance premiums for self-employed persons, amendment of data boxes or directive on work-life balance and others. Read the full overview and stay up to date on what's coming up this year. …

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Did you sell stocks or other securities in 2021? Then watch out for tax liabilities! The last two years have been quite busy on the capital markets. Many people have been selling their shares, fearing what the next developments in the coronavirus pandemic will bring. But now, at the start of 2022, tax returns are slowly starting to be compiled. So it's a…

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The taxation of cryptocurrencies is not yet firmly anchored in Czech legislation. However, there is no doubt that cryptocurrencies are intangible movable property and you should not forget to include a number of transactions in your tax return. How is the possession, exchange or sale of cryptocurrencies taxed? Find out in our article. …

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Tax records and accounting are two different things. It is common for new entrepreneurs to be confused about these concepts and not know which one to choose. So let's explain both terms. We will describe the differences and you will learn who has to keep tax records and who has to keep accounting records. WHAT IS TAX REGISTRATION? The main objective of…

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Even if you are not a VAT payer in the Czech Republic, be careful when trading with foreign countries. You may be obliged to register as an identified person. WHO MUST REGISTER AS AN IDENTIFIED PERSON? In short, an identified person (IP) is a VAT payer only for cross-border transactions. As an IO, you get your VAT number, but unlike VAT payers, you…

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VAT may not be a simple matter even for experienced entrepreneurs, especially when it comes to foreign transactions. In this article, you will find basic information on the VAT rules that apply to sales of goods to EU countries and beyond. PLACE OF SUPPLY AND VAT FOR FOREIGN TRANSACTIONS When you trade with foreign countries, you need to correctly…

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Do you rent an apartment through Airbnb? If so, how do you pay tax on your income? Income From Rent or Self-employment? Government anti-epidemic measures over the past two years have severely restricted not only travel but also accommodation. The aforementioned restrictions have not only affected traditional hotels and guesthouses, but also…

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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. %%jakeBlogByTags-11%% %%jakeMagazineNext%%

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We give you a brief overview of the most important changes in the field of taxes and accounting for in 2021. TAX NEWS IN 2021 TAX PACKAGE Perhaps the biggest story at the end of 2020 was the discussed new tax package. The main changes include: abolition of the super-gross wage; changes in depreciation of tangible and intangible assets; flat…

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News from our blog