Tax, Legal & Business News 2015

Zobrazit stránku: Česky

The PwC bulletin Tax, Legal & Business News, the next generation of Tax & Legal Alert. Issued regularly on monthly basis, Tax, Legal & Business News bulletin places emphasis on changes and news in connection with Czech tax legislation, audit, accounting and financial advisory and their particular implications on your business.

Tax Flash is another publication you can read and download from this page. Tax Flash is issued in response to important changes in Czech and European legislation. Its aim is to supply the Czech business community with information applicable to its business operations.

We hope that you consider our newsletters useful and a valuable source of information.

December 2015

  • Restriction on state aid provided by EU member states can also influence advanced pricing agreements
  • Double taxation treaty with Pakistan came into force
  • Establishment and operation of children‘s groups now financed by EU structural funds
  • Change in rules for personal data transfer to the USA
  • Consolidation of financial statements, even for smaller groups, according to Czech accounting standards from 1 January 2016
  • Tax-exempted incomes above 5 million subject to notification duty
  • Changes in pension and life insurance
  • The Czech labour market will be opened for specialists from Ukraine

VAT FLASH December 2015 - Control Statement

November 2015

  • OECD published a final report in a BEPS Project
  • Planned changes in the area of Real Estate Tax since 2016
  • It will be necessary to plan the internal reorganisation of a group of companies carefully
  • The draft law on electronic records of sales is heading to the third reading in the Chamber of Deputies
  • IASB works on a new text on leasing standards
  • Higher cap on social security from 2016
  • Higher minimal wage from 2016
  • Chile was included into a program “working holiday”

October 2015

  • Register of real owners
  • Excise duty on tobacco products will increase
  • The Financial Office will have the right to prompt you to prove incomes
  • Verification of annual reports for this year under new rules
  • Planned changes in income tax from 2017
  • Iran as a new potential market for your business
  • Lower social security contribution rates for families with children?

September 2015

  • Automatic exchange ofinformation about financial accounts is approaching
  • EU Report criticises Member State Tax Codes for Profit Shifting
  • EU member states will share Advanced Pricing Agreement
  • OECD protocol to agreements on the exchange of tax information expands their possibilities
  • Control Statement –four months for preparation
  • Horizontal delegation ofauthoritative competence can make the functioning ofthe company more effective
  • Corporations have to finish the general opt-in till the end of the year
  • Accumulation of functions: Isit possible or not?
  • News in the area of employee cards
  • Tax inspection is focused onpayroll accounting forseconded staff

VAT FLASH July 2015 - Control Statement

Czech Financial Administration published a report detailing the required technical structure of the control statement. Now nothing is standing in the way of control statements being prepared, so it is possible to submit the first control statement (CS) by 25 February 2016 at the latest.

June 2015

  • Tax proceedings: new interest on tax deduction is really not comforting
  • Excise duty on tobacco products is increasing
  • Double taxation treaty between the Czech Republic and Liechtenstein
  • Interest-free loan offered to employees can be taxable benefit
  • IFRS is changing
  • News in energetics
  • Turkish citizens have free access to Czech labour market
  • Uwe Schwalm is the new German Business Group leader in the Czech Republic
  • Bořivoj Líbal is joining PwC Legal as a managing partner
  • Appendix - Business in Africa

May 2015

  • Hockey tickets in the tax return
  • Overview of transactions with related parties – FAQs
  • Transfer pricing: tax officials are knocking at the door
  • Risk of cancelling permits in excise duties
  • Expanding automatic exchange of information in tax
  • Mortgage? Better wait till next year
  • We invite you
  • The Academy

April 2015

  • Correction of the VAT amount for receivables from debtors in insolvency is changing again
  • Excise duty on tobacco products is rising
  • Decision rights for estate settlement and taxes
  • E-books fall under the standard VAT rate, as decided by the European Court of Justice
  • Tax proceedings: “Crime & punishment” in electronic submissions
  • Bitcoins and taxes...
  • Uncertainty about form of power of attorney
  • New service: personnel strategy for small and medium enterprises
  • Study
  • We invite you
  • The Academy

Tax flash - 19 March 2015

  • The Specialised Financial Office (“SFO”) as well as local tax offices (“TOs”) are launching field investigations related to transfer pricing. At the beginning of the field investigation, the tax administration asks for particular documents (e.g. agreements, transfer pricing documentation, etc.), and they arrange a meeting with the company´s representatives. Then during the meeting, the tax administration poses prepared questions which are usually very specific and partially based on the voluntary questionnaire from 2014. This confirms the current trend of the tax administration, which is placing a greater emphasis on related party transactions and using a systematic approach to review transfer prices (we informed you about the SFO’s nationwide inspections in February).

Tax flash - 13 March 2015

  • On 11 March, the General Financial Directorate (GFD) published information about the application of the local reverse charge mechanism on selected products in the years 2015 and 2016 (regime).
  • The information confirms that the threshold of CZK 100,000 for application of the regime needs to be applied to the total value of the selected supplied goods. It further provides guidance on how to deal with special situations, such as receipt of an advance payment or correction of the VAT base.

February/March 2015

  • Amendment to the Investment Incentives Act brings new possibilities for applicants
  • TRANSFER PRICING Watch out for service fees
  • Adapting to BEPS requirements
  • Children’s groups benefit both employees and employers
  • Practical changes in electronic submissions application
  • The end of trust funds?
  • Audit reports will change considerably starting 2016 – they will provide more information!
  • Foreigners with free rein on labour market after amendment
  • Study: PwC protected the Oscar secrets again
  • We invite you
  • The Academy

January/February 2015

  • PwC is the most desired employer in taxes in the Czech Republic
  • Tax proceedings: Mandatory electronic format of “form submissions”
  • Local reverse charge regime – new commodities from 1 April 2015
  • The Financial Administration published information about the 10% VAT rate
  • The General Financial Directorate commented on the creation of statutory provisions and the depreciation of receivables
  • Change in the taxation of executives
  • One year with the new law on Czech citizenship
  • PwC CEO Survey: As long as we have people, we will grow, say Czech business leaders

Tax Flash - 18 February 2015

  • On 18 February, the Specialised Financial Office ("SFO") published information on its portal, based on which it launched nationwide inspections of transfer pricing in multinational companies.