Czech Republic-Kazakhstan Signs Protocol To Income and Capital Tax Treaty
The amending protocol of Income and Capital Tax Treaty (1998) between Czech Republic and Kazakhstan that was authorized on 16th October 2013 and has signed on 24th November 2014. Further details will be reported
See MoreCzech Republic-Slovak Republic Exchange of Information Agreement signs
The Tax Exchange of Information Agreement (TIEA) between Czech Republic and the Slovak Republic has signed on 13th November 2014 in Bratislava. Details of the treaty will be reported
See MoreCzech Republic: Burden of proof regarding investment incentives and transfer prices
The Supreme Administrative Court of the Czech Republic has issued a decision in a case regarding a company that took tax relief on the basis of some investment incentives and was needed to establish arm’s length prices due to its transaction with
See MoreCzech Republic: New reduced VAT Rate has approved by Lawmakers
The Senate of Czech Republic has accepted a draft bill for introducing a 10% VAT rate on October 22, 2014. The initiation of a reduced tax rate is applicable for books, medicine, and baby food from next year and diapers were also to be incorporated
See MoreCzech Republic: Second phase of Transfer pricing questionnaires
A Transfer Pricing (TP) questionnaire in August 2014 has circulated by the special tax authority of the Czech Republic. The questionnaire has been done by more than 60% of corporations to which it was delivered. On the basis of new information, a
See MoreCzech Republic: Issues transfer pricing form
From October 2014 a transfer pricing form has been introduced for submission to the tax authorities annually with the tax return, requiring information on related party transactions. This form must be submitted by taxpayers if their total assets are
See MoreCzech Republic: Expanded theory of “unreliable VAT payers”
Recently the General Tax Directorate has released the category of "unreliable VAT payers" which was effective from 1 October 2014. It was extended to contain intentionally inaccessible VAT payers, VAT payers who fail to complete the deadlines
See MoreCzech Republic-Liechtenstein Tax Treaty signed
The Income and Capital Tax Treaty between Czech Republic and Liechtenstein on 25 September 2014 has been signed. In accordance with the agreement, 0% Withholding Tax (WHT) will apply if it is the case of a beneficiary company (other than a
See MoreCzech Republic-Colombia Income Tax Treaty details
The Income Tax Treaty (ITT) between Colombia and Czech Republic has accepted Colombian Congress and it was signed on March 22, 2012. The treaty was concluded in the Czech, English and Spanish languages and needs to be declared constitutional by the
See MoreCzech Republic-Singapore ITT protocol enters into force
The amending protocol to the Czech Republic - Singapore Income Tax Treaty (ITT) has entered into force on September 12, 2014 that was signed June 26, 2013. The provisions of article 10 generally apply from September 12, 2014 and the provisions of
See MoreCzech Republic: Documentation requirement for tax payer
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
See MoreCzech Republic: Domestic VAT transactions filing from 2016
To file a new return describing all taxable transactions with other Czech registered businesses will be required for Czech VAT registered businesses from January 1, 2016. The Czech proposals contain requirements to reveal the following
See MoreCzech Republic – Excise duty on diesel and VAT on electronic services
Changes to the tax procedure and rules income tax law have passed through the first reading. At the third reading, the Chamber of Deputies has approved the following things: By re-initiating “green” diesel oil, an amendment has used to the
See MoreCzech Republic: Obligatory reporting on related-party transactions
The Czech Tax Administration has declared a new reporting obligation for all entities accountable for corporate income tax in the Czech Republic who has dealings with related parties. Czech taxpayers will have to file a separate disclosure form
See MoreCzech Republic-Luxembourg ICTT enters into force
The Income and Capital Tax Treaty (ICTT) between Czech Republic and Luxembourg has entered into force on July 31, 2014 and it will apply from January 1,
See MoreFATCA agreement between US and Czech Republic signed
United States and the Czech Republic signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on 4 August 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Czech Republic will report the information required under FATCA about
See MoreCzech Republic: Excise duty on cigarette raised to EU minimum
The Czech Republic has approved legislation increasing the excise duty on cigarettes by CZK3-4 to bring its rates into line with EU law. It was prescribed that from January 1, 2014, the overall excise duty (excluding VAT) on cigarettes shall stand
See MoreCzech Republic-Monaco TIEA signed
The Tax Exchange of Information Agreement (TIEA) between Czech Republic and Monaco has signed on July 31, 2014 regarding tax matters. Details will be reported
See More