Taxes and Accounting

The flat tax promises less administration for businesses from 2021 - but it will only pay off for some. The following lines will help you find out if you are one of them. You'll also find out how much to pay for each band, all the terms and conditions, deadlines and how to sign up for the flat rate tax. What is a flat-rate tax? The flat-rate…

In addition to the salary, interesting work and a relaxed team, company benefits contribute to employee satisfaction. In addition, they will also help you with recruitment. However, setting up benefits translates into the tax burden of the company and the employees. Take a look at the different types of benefits and their tax implications to…

While some voluntarily register for VAT, others want to avoid the VAT regime - therefore, when they exceed the turnover threshold for compulsory VAT registration, they prefer to set up a new company and charge from scratch. Find out why this is an inappropriate practice. Article content: When does a company become…

Do you know what your employee is entitled to when you send them on a business trip and what you must not forget? Find out under what conditions an employee can go on a business trip and what expenses are involved. What is a business trip? A business trip is nothing more than the legislative designation of the colloquial term business trip. The…

Determining tax residence can be confusing – whether you’re a Czech working abroad or a foreigner working in Czechia. Discover the criteria that will help you know where you should be paying income tax. General Rules for Tax Residence It sounds inviting – you find a country with an interesting social or tax system and choose to start your business…

When looking for ways to lower taxation, athletes often toy with the idea of changing their tax domicile. However, such a change is not possible for everyone and will only bring real savings to some. Find out under what conditions an athlete can benefit from a change in tax residency without unnecessary risk. The key to taxing…

The minimum wage is not only the lowest possible remuneration for work, but also affects other amounts. Find out how it works, who sets it, how to calculate the correct minimum wage per hour for different types of jobs and what changes to prepare for from 2025. What is the minimum wage and how is it set? Minimum wage means the lowest allowable pay…

The fundamental change to the Accounting Act will lead to amendments to a number of accompanying laws. One of them is the Income Tax Act (ITA), which should undergo a complete transformation. Find out how the terminology and tax depreciation rules you have been used to will change. Planned changes to the Income Tax Act The amended Income Tax Act…

All companies registered in the Commercial Register, associations, societies, institutes or foundations must publish their accounts. It tells about the company's management, its financial stability and its ability to stand in the future. Find out what it contains and why, and how to navigate through it. What are financial statements? …

Do you pay royalties abroad? And are you sure who is the actual recipient? Find out when you pay the full amount of withholding tax on royalties and when you can reduce it on the basis of double taxation. What are royalties? In the Czech environment, royalties are defined by the Income Tax Act (§19 of the Income Tax Act). Such…

The Ministry of Finance is working intensively on an extensive amendment to the Value Added Tax Act. The first changes will come into force on 1 January 2025, with more to follow until 2027. Changes to the Value Added Tax Act The current version of the VAT Act can be found under 235/2004 Coll. We have prepared an overview of the main changes…

The amendment to the Labour Code changes many of the previously established rules for performance of work agreements (DPPs). The popular method of earning extra income is now subject not only to central registration but also to new limits for levies. Join us for a look at the main changes that will affect DPPs in 2024/2025*. …

Are you planning to sell your apartment and wondering how to tax this income? The procedure for selling a condominium is different from selling a privately owned unit. We'll explain how to properly tax the income from the sale of a personal and cooperative apartment and when you can avoid this tax altogether. Taxation of income from the sale of a…

The popularity of company nurseries among employee benefits is steadily growing. Running a company nursery makes it easier for parents to return to work, reduces recruitment costs for new employees and saves parents time and money. However, the consolidation package has brought uncertainty to an established model and companies need to revalue this…

Have you set up a business and want to learn more about how to calculate your profit and loss, which types of profit and loss you can evaluate and how to draw on them in the future? Here is an overview of the most important profitability indicators. Why pay attention to the economic result? The profit and loss statement tells you about the…

The current accounting rules are based on legislation that was introduced in 1991. Although there have been a number of amendments to the Act itself and the related implementing decrees, they are often no longer sufficient for the current economic reality. The State is aware of this and is therefore preparing a completely new Accounting Act. Find…

Have you started a business and your company was established in the last 3 months of the year? Postpone your first corporation tax return until next year! We will tell you how to proceed. Who can extend their accounting period? If your company was established between 1 October and 31 December, you can apply to the tax office for an extension…

Every year in the spring, (not only) entrepreneurs have an unpleasant duty - filling in the tax return form. We will tell you how to deal with the document. Who fills in the tax return and how? According to the Income Tax Act (ITA), all entrepreneurs with an annual taxable income of over CZK 50,000 (or CZK 20,000 if you are an employed…

You pay one amount each month, which includes social security, health insurance and income tax. The flat-rate tax has relieved you of annoying paperwork so you don't have to worry about tax returns. But don't rejoice prematurely - it doesn't always apply! Find out which exemptions to look out for. Flat-rate tax and tax returns - when to…

The due date for the payment of the real estate tax (or the first instalment) is 31 May 2024. Last year, in order to save money, the tax administration abolished the paper postal vouchers that were traditionally sent to real estate taxpayers during May. Payment of the tax by postal order has not been charged until now, which is changing.…