Here’s a brief overview of the most important tax changes that will impact self-employed individuals, employees, and VAT payers. The new year will bring several innovations in the tax landscape, including adjustments related to the newly established minimum and average wages for 2025. Tax Return for 2024 It’s important to note that the consolidation package […]
The Czech Ministry of Labour and Social Affairs has prepared a regulation that specifies the exact amount of flat rate compensation for employees working remotely in 2025. The compensation will be set at CZK 4.80 per hour, which is approximately $0.20. New regulations for remote work in the Czech Republic (often referred to as home […]
Incidental income refers to extra earnings that you don’t have to pay tax on, as long as they don’t exceed CZK 50,000 per year (starting in 2024). We’ll clarify what happens if you go over this limit and explain why you can’t hold a business license in the Czech Republic in that case. As of […]
The Czech Republic is making a significant shift to “European” accounting. This change will prioritize financial reporting over traditional accounting practices, aiming to eliminate unnecessary formalities and simplify the overall accounting process.
If a company or entrepreneur is facing financial difficulties, they can request an extension to pay their tax debt. Here are the details and conditions that must be met to exercise this right in the Czech Republic.
Fundamental changes are about to occur in the Czech Republic that could affect anyone using cryptocurrencies. The Chamber of Deputies has adopted a law that equates cryptocurrencies with stocks. This law will simplify the taxation of profits from cryptocurrency sales and relieve many users from excessive bureaucracy. The new law will allow cryptocurrency users to […]
Exciting changes are coming for employers looking to hire foreign workers in the Czech Republic. To employ foreigners, employers will now need to register and obtain verified employer status, along with meeting several other important requirements. The good news is that the state is also ready to offer benefits to foreign investors, as well as […]
The conditions for VAT registration in the Czech Republic are changing. Small business owners will have to closely monitor their company’s turnover, as the new law introduces two important thresholds that affect registration. It is important for every entrepreneur to monitor changes in legislation and study their impact on their business. To stay up to […]
Entrepreneurs looking to save on income tax can take advantage of not only traditional deductions but also the non-taxable portion of their tax base. Deductions for donations, mortgage interest, or pension contributions can significantly reduce your tax liability — often down to zero! While some tax benefits were eliminated by last year’s consolidation package passed […]
If you are an individual and have decided to sell your securities, this article is for you. Here you will find information about the taxes you need to pay on the profit you make. Contact the specialists at 360WEDO for a personalized consultation; we will answer all your questions about taxation. What Can We Count […]
Significant changes are coming to the Value Added Tax (VAT) Act in the Czech Republic, set to take effect on January 1, 2025. These amendments are particularly relevant for entrepreneurs who currently pay VAT or may become taxpayers in the future, as they will impact mandatory tax accounting. Currently, all entrepreneurs whose turnover exceeds 2 […]
When selling real estate in the Czech Republic, the income generated from the sale may be subject to personal income tax. This tax applies to the profit made from the sale, which is calculated as the difference between the sale price and any associated expenses, and falls under Article 10 of the Income Tax Act. […]
The average and minimum wages in the Czech Republic for the coming year have already been announced. Several key parameters will be derived from these figures, which will impact various aspects of taxation in 2025. Specifically, changes will occur in the calculation of tax advances, social and health insurance contributions, the income threshold for tax […]
A new limit of CZK 40 million for tax exemption on income from the sale of a share in a business will come into effect in the Czech Republic in 2025. The existing five-year ownership requirement remains unchanged.
