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 […]
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 […]
