DAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreCzech Republic: Financial Administration announces to expect a delay on DAC6 implementation
Amid COVID-19 pandemic, and in response to requests from European trade associations, the European Commission has published its proposal to amend Directive 2011/16/EU which deals with various strands of administrative co-operation in the field of
See MoreCzech Republic: The Chamber of Deputies passes anti-crisis tax package for second time
On 16 June 2020, the Chamber of Deputies passed the anti-crisis tax package for the second time aimed at mitigating the adverse economic effects of the pandemic on entrepreneurs and companies. The package is set to be signed by the president and
See MoreCzech Republic: Finance Ministry announces liberation package III due to COVID-19 pandemic
On 9 June 2020, the Ministry of Finance announced on its website that the so-called next liberation package III has been approved to extend and extend certain tax exemptions, tax accessories and administrative fees due to an emergency caused by
See MoreCzech Republic: Finance Minister announces to delay the DST with a reduced rate
On 14 May 2020, the Finance Minister announced in a televised interview that the Government agreed to reduce the digital service tax (DST) from 7% to 5%. Also, the Government agreed to postpone the introduction of DST until 1 January 2021. The
See MoreCzech Republic deposits ratification instrument for MLI
On 13 May 2020, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, Czech Republic
See MoreCzech Republic: Finance Ministry announces latest updates in response to COVID-19 outbreak
On 14 April 2020, the Finance Ministry has made announcement about some measures related to VAT. The measures are given below: The penalty of amount CZK 1,000 applies in case of fail to file a control statement during the period lies from 1
See MoreCzech Republic: Government approves measures to mitigate Coronavirus effect
On 16 March 2020, the Government approved the tax measures to mitigate the effects of COVID-19. Basic measures to be implemented are: No penalty and late-payment interest will apply, as long as the tax return is filed by 1 July 2020. In fact,
See MoreCzech Republic: President signs a Law to ratify BEPS MLI
On 13 February 2020, the President signed a law for ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). On 28 November 2019, the Chamber of Deputies approved the ratification of BEPS MLI. The
See MoreCzech Republic: Senate approves DTA with Taiwan
On 30 January 2020, the Senate of the Czech Republic approved the Double Taxation Agreement (DTA) with
See MoreCzech Republic: Government publishes final draft Bill of DST in Parliament
On 22 January 2020, the final draft Bill regarding the digital service tax (DST) was published in the Parliament. This Bill proposed to introduce a single digital tax of 7% for companies with a global revenue thresholds of EUR 750 million and
See MoreDTA between Czech Republic and Korea (Rep.) enters into force
On 20 December 2019, the Double Taxation Agreement (DTA) between Czech Republic and Korea (Rep.) was entered into force and applies from 1 January 2020. From this date, the new DTA replaces the former DTA of 1992. The DTA contains Dividends
See MoreDTA between Bangladesh and Czech Republic signs
On 11 December 2019, the Double Taxation Agreement (DTA) between Bangladesh and Czech Republic was signed in Prague. The DTA contains Dividends rate 10% for at least 25% capital holding; otherwise 15%, Interest rate 10%, and Royalties rate
See MoreCzech Republic: Chamber of Deputies approves ratification of BEPS MLI
On 28 November 2019, the Chamber of Deputies approved the ratification of the multilateral convention to implement tax treaty related measures to prevent BEPS (MLI). The Czech Republic now has to deposit its instrument of ratification in order to
See MoreCzech Republic: Government approves draft bill regarding digital service tax
On 18 November 2019, Government approved a draft bill regarding digital service tax (DST), which responds to the dynamic development of digital economy services and straightens the conditions in the Czech tax environment. The Ministry of Finance
See MoreCzech Republic: Parliament debates proposed changes to Income Taxes Act
The Chamber of Deputies debate with some changes to the Income Taxes Act, which may come into force in 2020. The measures must be approved by the Chamber and the Senate and signed by the president before coming into force. The provisions of the
See MoreCzech Republic: Cabinet approves draft budget for 2020
On 16 September 2019, Government announced that Czech cabinet approved the draft budget proposal for 2020. This draft budget was prepared by the Ministry of Finance. It focuses mainly on pensions, wages, parental allowance and government spending
See MoreBangladesh’s Cabinet approves the signing of a DTA with Czech Republic
On 26 August 2019, Bangladesh’s Cabinet approved the signing of a double taxation agreement (DTA) between Bangladesh and Czech
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