Tax & Legal Update
Technical amendment to consolidation package approved by chamber of deputies
During the discussion of an amendment to the Act on Investment Companies (Print 570), the chamber of deputies approved proposals to amend the Income Tax Act and other laws amended at the end of 2023 within the consolidation package. The proposals…
Chamber of deputies passes amendment important in company conversions
The Chamber of Deputies has passed an important amendment to the Act on Conversions of Commercial Companies and Cooperatives (the Company Conversion Act). Its main novelties deal with the transfer a company's registered office outside the European…
Estimated payables as seen by recent case law
The Supreme Administrative Court (SAC) has recently issued two judgments dealing with estimated payables and their effect on the income tax base. The court’s reasoning provides taxpayers with important general information on what to have ready for…
Importance of detailed documentation for claiming R&D allowance
In its recent decision, the Supreme Administrative Court (SAC) confirmed that detailed and structured documentation is essential for successfully claiming R&D allowances. The absence of clear documentation may lead the tax authority to deny the…
CJEU confirms its position on supply of goods to specific recipient
In a recent case submitted by Czech courts, the CJEU commented on an intra-community supply of goods to a specific recipient (C 676/22 B2 Energy). According to the CJEU, a VAT exemption could not be granted because the goods were not delivered to a…
Employment of foreigners from third countries to undergo further changes
Effective 1 July 2024, the Employment Act will undergo significant changes which will affect foreigners from countries outside the European Union without free access to the labour market. Specifically, processes relating to the reporting of job…
Fraudulently issued invoices: who pays VAT?
The Court of Justice of the European Union (CJEU) commented on who is considered a person liable to pay tax for invoices fraudulently issued by a company’s employee.
Non-performing loans – regulation of credit purchasers and servicers
Following the EU directive, a new law on the non-performing loan market was passed, regulating the credit trading and servicing sector. Collection agencies will be required to obtain a licence and will be subject to supervision by the Czech National…
Major amendment to Code of Administrative Justice – evolution or revolution?
After more than twenty years, the Code of Administrative Justice is about to undergo a significant amendment to reflect the decision-making practice of the Supreme Administrative Court (SAC), and to overcome or eliminate the shortcomings of previous…
Electromobility support now available
On 18 March 2024, the National Development Bank in cooperation with the Ministry of Industry and Trade started accepting applications for support in Call I - Electromobility Guarantee announced under the National Recovery Plan.
Applications for photovoltaic power plant subsidies now accepted
Since 1 March 2024, it has been possible to apply for support for the installation of photovoltaic power plants (PV plants) under the RES+ No. 1/2024 - Photovoltaic Power Plants 10 kW - 5 MW for Self-Consumption call announced under the…