Czech Republic: New withholding tax provisions

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The Czech President signed some amendments to the Income Tax Act, which include the withholding tax (WHT) provisions. The amendments will be effective on the 15th day of its publication. There is an indication of its publication date and it is 1st of July 2017. The new provisions of withholding tax basically alerts for shareholder associations and profit companies and financial institutions that pay interest on these companies. The changes extend the chance of 19% withholding tax on interest in case of deposits. This new measure imposes extra requirements on banks and savings and credit organizations.

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