All industries are discussing the use of artificial intelligence. But what role does it play in HR? What does it help with, and what should we approach cautiously? The portal Podnikatel.cz presents a study on the use of artificial intelligence in recruiting and HR in general and advises on how to approach this technology. Daily […]
Amendments to the Czech Republic’s Accounting Act are expected to come into effect in 2025. In addition to modernizing accounting, the law aims to change some established accounting methods, reduce administrative burdens, and ensure compatibility with international accounting standards. At the beginning of 2023, the Czech Ministry of Finance published the long-discussed draft of the […]
Who needs to file an income tax return if you are employed under an employment contract or are a self-employed individual paying tax at a unified fixed rate? We address the question of who is obligated to file a tax return and who, conversely, is not required to do so. 38g of the Income Tax […]
The most recent revision to the Labor Code, which took effect in October 2023, made major changes to the electronic distribution of papers to employees. We will talk about several sorts of electronic signatures, how they protect data, and how they’re used. But has the revision to Act No. 262/2006 (hereafter referred to as the […]
The fifth Plenary of the FATF under the Presidency of T. Raja Kumar of Singapore concluded on 23 Feb 2024. Delegates from the FATF’s Global Network of over 200 jurisdictions and observers from international organisations participated in three days of discussions on key money laundering, terrorism financing and proliferation financing issues at the FATF headquarters […]
In 2020, the Czech Republic committed to achieving net-zero greenhouse gas emissions by 2050, and a number of subsidy programs were implemented to help achieve this target. Among these is an electric car subsidy for businesses and individuals (self-employed), which they can take advantage of this year and next. The subsidy starts at 200,000 Czech […]
How should Bitcoin be taxed if you decide to accept it at your store and then either keep it or sell it on an exchange? And how should this be reflected in your tax declaration? Bitcoin has already established itself in society as a cryptocurrency, to the point where some major retailers are now taking […]
Many business owners grapple with the decision to outsource their accounting needs. Hiring well-known and trusted accounting firms can greatly improve the general quality of financial management. Why might it be better for a business’s finances to outsource accounting instead of hiring an accountant to work for them? Firstly, it facilitates cost optimization. Second, it […]
Certain professions necessitate specific workwear. For individuals with the obligation to wear company clothing, understanding how to approach its purchase in terms of both accounting and tax considerations is crucial. Several professions or businesses may enforce a policy regarding workwear as an integral part of their operations. Typically, these include professions such as builders, doctors, […]
The Ministry of Labor and Social Affairs in the Czech Republic has introduced a new decree outlining compensation details for workers from home: 4.60 CZK per hour. It’s noteworthy that employers have the option to negotiate with employees regarding expense coverage. As of now, these regulations are in effect, as reflected in the recent amendment […]
In November, Czech President Petr Pavel put his signature on a consolidation package that brings forth alterations to a multitude of laws, with a primary focus on taxation. Notable changes encompass the introduction of only two value-added tax rates, set at 12% and 21%. Furthermore, the corporate income tax rate is slated to rise from […]
Did you know that you must pay VAT if you use sponsored advertising on Facebook and Instagram as part of your business. You should submit a VAT return and summary report based on the advertising bills. How do I correctly account for social media advertising? How do I fill out tax forms? And when do […]
A trademark (TM) is a legal instrument that protects your company from competitors. It distinguishes your company from others in the market, and in addition to exclusive rights, a trademark lends legitimacy to your brand. What is the distinction between R(®) and TM(TM)? The letter R (®) is derived from the English term registered and […]
Starting next year, the number of workers and self-employed individuals in the Czech Republic subject to the increased 23% income tax rate will significantly increase. Currently, the elevated tax rate of 23% applies to income exceeding 48 times the average annual salary. The new threshold is planned to be reduced to 36 times. However, as […]
