From 1 January 2014 Czech taxpayers must send in a separate disclosure form entitled Overview of Transactions with Related Parties at the time of filing the corporate tax return. This applies to taxpayers with foreign related party transactions in the period and turnover above CZK 80 million; assets above CZK 40 million and more than 50 employees in the relevant period. if the taxpayer only had transactions with Czech related parties in the period the reporting requirement still applies if the company is showing losses for the period or if it is in receipt of tax incentives. A separate disclosure form is required for each related party.
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