Starting July 1, 2025, the Czech Republic will introduce changes to the rules for collecting VAT on real estate transactions, including the payment of VAT on the sale and transfer of real estate, as well as the definition of land for development, which will be subject to VAT. The amendments will also affect the rules […]
With the end of the calendar year, VAT taxpayers find themselves in a specific situation where their last tax return for December (for monthly VAT payers) or the fourth quarter (for quarterly VAT payers) requires special attention. The last VAT return for the calendar year has some peculiarities. VAT taxpayers may need to adjust reduction […]
The concept of pre-contractual liability is governed by the Civil Code. It comes into play in situations where negotiations for a prospective deal have advanced to a point where an unjustified termination of those negotiations could be deemed unfair to the other party, potentially causing them harm. In these circumstances, pre-contractual liability may be invoked, […]
The end of the year signals the need for finalizing transactions and preparing annual financial statements. This article outlines the most common procedures for closing accounts. Accounting is often viewed as a complex system of information. To prepare a comprehensive set of financial statements, specific steps must be taken to close the books. This process […]
In the Czech Republic, property tax returns are typically filed by taxpayers who purchased real estate during the previous year. However, in 2025, as in previous years, others may also be required to file. Read on to find out if you fall into this category. Who Needs to File a Property Tax Return? Taxpayers must […]
Companies and sole proprietors in the Czech Republic have until the beginning of May to file their tax returns electronically. The new requirement to file returns electronically also applies to the report to the Czech Social Security Institution (ČSSZ). We are publishing a list of deadlines for self-employed individuals regarding income tax, social security, and […]
The world of cryptocurrencies is always in flux, with rapid price swings happening almost daily. For instance, Bitcoin recently experienced a remarkable surge, skyrocketing by 8% in just two hours. Given this volatility, many investors are keenly watching forecasts for the upcoming year to fine-tune their strategies and adjust their portfolios in response to both […]
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 […]
