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In business, IČO and DIČ are perhaps the most commonly used abbreviations. If you are setting up a business or establishing a trade, you are bound to come across these terms. That's why you need to know how these two identifiers differ, who assigns them to you, and where you can look up the ID numbers and TINs of other companies or sole…

The Ministry of Finance has prepared an extensive amendment to the Value Added Tax Act. Take a look at the main innovations that the amendment brings from 1 January 2025. Others will follow until 2028. The current version of the VAT Act can be found under 235/2004 Coll. Changes in the calculation of turnover Until now, the calculation of…

The general meeting is the highest body in a limited liability company (a.s., s.r.o.). It decides on the most important issues in the company and usually meets at least once a year. Are you unsure in what situations the law requires a general meeting to be called? Find out more about holding general meetings in a public limited company and a…

Are you considering whether an association is the right solution for your plans, or have you already made the decision but don't know how to get started? We'll guide you through the whole process of setting up a society from the initial idea to registration with the society register and the responsibilities after the actual incorporation - so you…

As a business, you deal with accounting or tax documents every day. Get to know the types of accounting documents and their requirements - a proper understanding of these documents will make your business easier and help you avoid problems with the authorities. What you will learn in this article: The difference between an…

Do you file your own personal tax returns? You can save significantly on income tax by claiming allowances and deductions correctly. We explain the difference between discounts and deductions, how you can claim them and what you need to document. Article content: The difference between tax deductions and rebates What tax deductions…

Have you sold shares or other securities? Then watch out for tax liabilities! The capital markets have been quite busy in recent years. When tax filing season rolls around, it's a good time to evaluate whether to include your income from sold stocks or ETFs. Our article will help you find the answer. Which stock transactions are taxable? …

Every year in the spring, (not only) entrepreneurs have an unpleasant obligation - filing a tax return form. We'll tell you what you need for your tax return, how to fill in the tax form and fulfil your tax obligation. Who fills in the tax return and how? According to the Income Tax Act (ITA), all entrepreneurs with annual taxable income…

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 all about zero returns. Business tax returns: what if…

Choosing a car for a company is not the same as choosing one for your family. While with a family car you will be mainly interested in comfort, consumption or safety, with a company car it is all about how it will affect your taxes, VAT deductions and running costs. The car does not belong to you, but to the company. We'll introduce you to how to…

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)…

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…

Starting a business can be challenging. We'll give you an overview of the responsibilities of the self-employed - from tax and accounting to insurance payments and registration to planning and business development. Find out what not to forget after setting up a business. Obligations of the self-employed at a glance: …

Entering the world of self-employment can be exciting but also challenging. Every step of the way, you will be faced with decisions that can affect your future success in business. Read through the main requirements and essentials of setting up a business so you can start your business with confidence. What do you learn in this article? …

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…

A limited liability company is the most popular type of company mainly due to its simplicity and limited liability of its owners (partners) for liabilities. But how does "limited liability" for debts work in practice? Find out if and what the partners, the managing directors and the company itself are liable for. Bodies in a limited…

You know each other well, maybe you've been partners, siblings, classmates or best friends since kindergarten. You have a great business idea, so you decided to start a company together. What could go wrong, you think. But even the best personal relationships can't guarantee a successful business partnership. What to look out for when you're…

While some voluntarily register for VAT, others want to avoid the VAT regime - therefore, when they exceed the turnover threshold for compulsory VAT registration, they prefer to set up a new company and charge from scratch. Find out why this is an inappropriate practice. Article content: When does a company become…

You've decided to do business in the UK market, chosen the right form of business and now you want to make sure you haven't forgotten anything after setting up in the UK? Read on for a summary of the main obligations you may face as a Czech entrepreneur in the UK. Applying for a visa The requirement to apply for a visa to do…