Tax, Legal & Business News 2015
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.
- 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
- 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.
- 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
- 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.