Czech Republic: Income Tax Law amendment regarding participation exemption
The Senate has approved a bill on 6th April 2016 that introduces changes to the Income Tax Law. The bill must be signed into law by the President for becoming law. It has been predicted that the bill will be applicable the first day of the calendar
See MoreCzech Republic: Website on electronic reporting of revenues of VAT launched
The General Tax Directorate announced a new website on 4th April 2016 devoted to electronic reporting of revenues: www.e-trzby.cz. The president signed the Bill on electronic reporting of revenues and reduction of VAT regarding catering services on
See MoreTIEA between Belize and Czech Republic signed
An Exchange of Information Agreement regarding tax matters between Belize and the Czech Republic has signed on February 12, 2016 in Mexico
See MoreCzech Republic: Amendment allows allocation of VAT reverse charge mechanism
In regard to the value added tax (VAT) rules, there is a new provision that allows buyers and sellers to agree to an allocation of the reverse charge mechanism, without considering the value of the goods. This amendment is effective from 1st
See MoreCzech Republic: Ministry of Finance holds conference on countering tax evasion
The Finance Ministry held a conference on 18th November 2015 regarding tax evasion and measures taken to counter it. It was reported that because of intensifying the fight against tax evasion and avoidance, public revenues had increased. In
See MoreCzech Republic: Control form to counter VAT fraud to be postponed
The government has submitted a bill to parliament that would postpone the announcement of the "control form" to counter VAT fraud till 1st January 2017. Primarily, the filing requirement of the form applies with effect from 1st January 2016. The
See MoreCzech Republic: Amendment to law on international cooperation in tax administration
The Government has submitted a bill to the Parliament on 10th November 2015 regarding changes to the law on international cooperation in tax administration. The Bill must be accepted by both chambers of the parliament and signed into law by the
See MoreDTA between Czech Republic and Pakistan enters into force
The Income Tax Treaty (2014) between Czech Republic and Pakistan entered into force on 30th October 2015 and it generally applies for the Czech Republic from 1st January 2016 and from 1st July 2016 for
See MoreCzech Republic: Income Tax Law amendment submitted to parliament
It has been reported that the government submitted an amendment to the Income Tax Law to the parliament which presents corporate and individual income tax changes. The bill must be approved by both chambers of the parliament and signed into law by
See MoreUS and Czech Republic: Competent Authority Arrangement (CAA) signed
In accordance with the US and Czech Republic intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA), the competent authority arrangement (CAA) has been signed between the US and Czech Republic on 1st
See MoreCzech Republic: Filing date VAT ledger statements
The government has revealed its plans to amend the tax law and it seems the changes would not totally affect the income tax law. All taxpayers who claim for value added tax (VAT) deductions will have to file VAT ledger statements that means
See MoreDTA between Czech Republic and Senegal initialed
After completing a successful 3rd round of negotiations held in Prague, the Income Tax Treaty between Czech Republic and Senegal has been initialed on 13th August 2015. Further details of the treaty will be reported
See MoreCzech Republic: VAT reverse charge extended
The VAT reverse charge for a range of agricultural crops has been extended by the tax office. The local reverse charge mechanism is a tool used to help prevent so-called missing trader VAT fraud. This is a fraud whereby criminals target the EU
See MoreCzech tax authorities clarify implications of ECJ Skandia decision
A clarification was recently issued by the Czech Republic tax administration in relation to the implications of the Skandia America decision of the European Court of Justice (ECJ). The ECJ decision concerned Skandia which was a US corporation with
See MoreTIEA between Aruba and Czech Republic signed
An exchange of information agreement relating to tax matters (TIEA) between Aruba and the Czech Republic was signed on 8th July
See MoreCzech Republic: IMF comments on economic and fiscal position
The International Monetary Fund (IMF) issued a press release on 20 May 2015 containing a concluding statement after a visit by staff to the Czech Republic for discussions under Article IV of its articles of association. The economy of the Czech
See MoreDTA between Czech Republic and Iran signed
The Income Tax Treaty between Czech Republic and Iran has been signed on 30th April 2015. Future information of the treaty will be reported
See MoreTIEA between Czech Republic and Bahamas ratified by Czech Republic
The Exchange of Information Agreement (TIEA) between Czech Republic and Bahamas has ratified by Czech Republic on 19th March
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