A properly issued tax document is essential for claiming the right to a VAT deduction. At the same time, it serves as a key accounting and tax record. Its required format and content are defined by VAT legislation.
Many entrepreneurs rely on external sources of financing — in other words, borrowed funds — to support their business operations. One common option is credit financing. But how exactly are loans recorded in accounting?
Artificial intelligence (AI) is becoming an essential tool across a wide range of industries — and accounting is no exception. As technology continues to evolve, it’s reshaping the way we work, helping us process large volumes of data with greater speed, accuracy, and efficiency.
In the Czech Republic, four out of five sole proprietors currently pay no more than 100 crowns a month in income tax. Economists from PAQ Research and the Institute for Labour and Social Affairs (RILSA) argue that it’s time to rethink this setup. Adjustments to the lump-sum tax regime and a reduction in flat-rate expenses could generate up to 25 billion crowns annually for the state, they estimate.
Voluntary pension insurance offers a way to fill in gaps in your insurance record and potentially increase your future pension, especially during times when you're not employed or are working outside the Czech social security system.
All taxpayers in the Czech Republic should have already received information regarding the amount of their real estate tax. If someone has not yet received a notice, they can check the amount either through the financial administration or via the MOJE daně portal.
Outsourcing has become an increasingly common strategy among businesses seeking to delegate specific tasks or services to external providers. One area where outsourcing is especially prevalent is accounting. But what exactly does accounting outsourcing entail, and what are its key advantages and disadvantages?
Many entrepreneurs in the Czech Republic turn to our specialists with a common question: is it more advantageous to operate as a non-VAT payer, or to voluntarily register for value-added tax?
Does your company own a warehouse, office, garage, or land? If so, you are required to pay property tax by 31 May. Unlike most other taxes, property tax is paid in advance for the calendar year, always by 31 January of the relevant year.
In the Czech Republic, the number of individuals engaged in entrepreneurship alongside their primary employment has reached a record high. But does this trend reflect genuine entrepreneurship? The number of sole traders – individuals for whom business activity is a secondary rather than a primary source of income – has hit an all-time high, approaching […]
A simple electronic signature is currently one of the most widely used forms of digital signature. As a result, many commercial providers offering simple electronic signature services have entered the Czech market – platforms such as DocuSign, DigiSign, Signi, Signature Factory, and others. But how safe are these commercial tools for signing business contracts? And […]
The period leading up to the deadline for electronic tax return filing is often a time of increased stress, pressure, and unexpected complications for many entrepreneurs, especially for accounting firms. While the official deadlines may seem generous at first glance, in practice, many unforeseen circumstances can prevent the timely and correct submission of a tax […]
A comprehensive amendment to the Czech VAT Act will take effect on 1 January 2025. In this series of articles, we will explore the most important VAT changes in detail. First, we’ll look at the new rules for calculating turnover for mandatory VAT registration. Turnover Calculation for VAT Registration Until the end of 2024, a […]
Beginning in 2026, the thresholds for mandatory company audits in the Czech Republic will be raised. As a result, small businesses will no longer be required to have their financial statements audited. While companies have welcomed the proposal, the Chamber of Auditors of the Czech Republic warns that it could have several negative consequences. Let’s […]
