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  • Personal income taxation

Personal income taxation

Every enterprise activity or employment of an individual is necessarily connected with the existence of tax or tax liability. Therefore the tax advisors of BDO TAX are ready to provide the representatives of the companies’ management, companies’ statutory representatives or board and supervisory board members with their professional assistance. In this respect our professional advisory services are designed for comprehensive tax consultancy, correct and complete tax liabilities’ fulfillment and optimum minimization of the tax burden from a personal income tax point of view.

As an integral part of our tax consulting services we also offer our assistance by the application of related legal regulations connected with social security and health insurance, which are an inseparable area of entrepreneurial activity or employment of all of us.

In this respect BDO TAX provides a complete package of tax consulting services for all categories of tax payers aiming at the correct and effective assessment of their tax situation, including the final part in the form of the preparation and filing of their personal income tax returns.

 

Preparation and filing of personal income tax return comprises as standard:

  • short initial discussion or meeting with client regarding the verification of documentation
  • explanation of personal income tax calculation and completion of the personal income tax return form
  • preparation of the advance payments breakdown (if applicable)
  • discussion with Client about chosen areas
  • formulation of the personal income tax return preparation memorandum, which clears up the most important aspects of the prepared tax return
  • filing of the personal income tax return with the relevant financial authority

 

We would like to assure you that we are also not indifferent to the tax issues connected with the employment or other similar relationship of individuals and therefore we also provide our tax consulting services in respect of the area of labor employment (evaluation and optimization of expenses in connection with employees’ remuneration, for the purposes of various kinds of payments and bonuses). In relation herewith we offer the realization of a tax analysis of particular leading employees' remuneration structure in relation to the accounting profit achieved, from both an employees and employer’s point of view.

Moreover we further provide professional tax consultancy for the purposes of immigratory services and also services related to the international hire of labor. As a component of the standard scope of our services we also offer a planning of the whole process including an analysis and suggestions regarding the internal system of its realization, planning and adjustment of this type of employment remuneration structure and solutions for particular tax aspects of such a system with a view to the related Czech and foreign legislative regulation of this area.

Another indisputably interesting and current area of the professional specialization of BDO TAX is the provision of tax consulting services in the form of tax analysis and adjustment of existing employee benefit systems, which as standard includes especially the following consulting services:

  • an assessment of the tax treatment of particular employee benefits with respect to the tax nature of expenses arising from both a personal and corporate income tax point of view and also with respect to the area of social security and health insurance contributions regarding relevant employee benefits, including differences relating to foreign employees
  • a review, analysis and suggestions of modifications of a client’s relevant internal regulations regarding the remuneration system and employee benefits provision (especially collective agreements, inter-departmental guidelines, or labor contracts)
  • tax analysis and optimization of the practical functioning of the employee benefits system based on discussion with the employees responsible for the employee benefits system, or part of it 
  • an elaboration of output in the form of a table for the purposes of its practical utilization for particular employee benefits and detailed description of the employee benefits assessment