Entrepreneurs in the Czech Republic have several options for how they report business expenses and match them with their income. What is the most advantageous approach, and what factors should be considered when choosing how to declare expenses? Self-employed individuals (commonly referred to as “sole proprietors”) must meet specific obligations in connection with their business […]
Under a newly approved law, small businesses and self-employed individuals in the Czech Republic will no longer have to pay radio and television license fees. The Czech Senate has passed an amendment that introduces several key changes to the media law, including how fees are calculated and who is required to pay them. Concession Fees […]
In the Czech Republic, the tax return includes not only taxable income from employment, self-employment, or rental activities, but also other types of taxable income. But what exactly does that include? These types of income are defined in Section 10 of the Income Tax Act. Taxpayers who have such income are required to complete Appendix […]
When an individual sells real estate, they may be required to pay tax on the income received – but this obligation doesn’t always apply. So, in which cases is the sale of real estate taxable, and where should the income be reported in the tax return? Since real estate sales are not everyday transactions, they […]
Although filling out reports for the Czech Social Security Administration and health insurance companies takes only a few minutes, there are many potential mistakes that entrepreneurs can make. To better understand the most common errors and how self-employed individuals can avoid them, we spoke with employees of the Social Security Administration and insurance companies. Variable […]
The deadline for filing tax returns in the Czech Republic is approaching, ending at the beginning of May. But what should you do if errors are discovered in your tax return? Taxpayers are required to submit income declarations for both individuals and legal entities. The deadline for submission depends not only on the filing method […]
The European Union wants companies to monitor their employees’ AI literacy. But what does this requirement – and the other regulations introduced by the AI Act – mean in practice? Let’s take a closer look. Concerned about the rapid development of artificial intelligence and the risks it poses, the European Union adopted the AI Act […]
Tax depreciation can play a significant role in optimizing expenses for tax purposes. But which assets can be depreciated, and who is entitled to claim depreciation? In the Czech Republic, income taxpayers can apply so-called tax depreciation. However, it is important to distinguish between accounting depreciation and tax depreciation. While accounting depreciation reflects the actual […]
International double taxation occurs when the same income is taxed in two countries — both in the country where the income originates and in the country where the recipient is a tax resident. Simply put, taxation takes place simultaneously in the source country and the recipient’s country of residence. There are many situations in which […]
The tax rebate for a spouse is one of the key benefits that can help reduce tax liabilities, not only for low-income families. However, as of 2024, the rules for claiming this rebate in the Czech Republic have changed, impacting many individuals filing their tax returns this year. In this article, we explain who is […]
The AML Act, also known as the Anti-Money Laundering Act, introduces new obligations for Czech accountants starting in 2025. The compliance deadline is set for 10 March; failure to meet it may result in a substantial fine. The primary obligation – to register as a contact person with the Financial Analysis Office – had to […]
The most common mistakes in tax returns remain largely unchanged. Typically, issues arise when claiming tax deductions. This year, it’s particularly important to pay attention to changes in the eligibility criteria for tax benefits for non-working spouses. We’ve compiled a list of common errors made by taxpayers. For a more detailed understanding of this issue, […]
In the Czech Republic, most employees don’t have to worry about taxes, as their employer typically handles all tax obligations in their annual tax return. However, some employees need to file their own tax returns. This includes those with higher income from capital assets, who rent out real estate, or have other income outside of […]
Even if you’re not an entrepreneur and aren’t legally required to file a tax return, it might still be beneficial to do so in certain situations. By filing a return with the tax office, you may be able to reclaim all the advance payments you’ve made. This typically applies to taxpayers who had taxable income […]
