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For six years, companies have reported all related-party transactions in the tax return. The Income Tax Act also requires companies to increases their tax base if they cannot sufficiently substantiate the difference between the negotiated price of such a transaction and the price that would be...
The obligation to notify the local tax authority of the conclusion of a contract based on which a foreign company can set up a permanent establishment in the Czech Republic is often a neglected obligation. However, the Income Tax Act requires that it be fulfilled without delay, and the tax...
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As of 1 May 2020, the final phase of electronic sales registration (EET), which was brought about by the amendment to the EET Act in 2019, will be launched. The obligation to record sales thus arises for almost all businesses. Only the Constitutional Court of the Czech Republic can delay or...
The GDPR has been in place since May 2018 and still about half of companies have yet to complete its implementation. The neglected areas include camera systems. The following is based on my experience with the setup and operation of CCTV systems. The recommendations are also based on the strict...
The Ministry of Finance's proposal to extend the employers' contribution to employee meals as tax-free income by deducting amounts directly from the tax base – a "meal voucher lump sum" – is one of the positive amendments to the Income Tax Act. At long last, this is an effort to simplify the tax...
Declaration of foreign income very likely includes a wider range of income than many businesses that meet the reporting obligation realise. It is important to note that we also pay abroad for services rendered. These services represent the income of tax non-residents who are taxed only in the...
The risk of not proving entitlement to exemption when delivering goods to another EU Member State increased significantly in the past year. EU Council Implementing Regulation 2018/1912 of 4 December 2018 provided rules on how to prove this correctly. While these rules provide certainty for...
The Mergers & Acquisitions Department was created with my arrival in the company in autumn 2019. Put very simply, we provide advice on transactions with businesses, in particular the sale of a business or the purchase (acquisition) of another business. Our typical clients are company owners who...