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 […]
All companies registered in the public register of the Czech Republic, as well as those required to do so by special regulations, must publish their financial statements. However, half of the businesses subject to this obligation fail to comply. Currently, all companies listed in the Czech Republic’s commercial register are required to publish their financial […]
In 2024, fewer tax credits and deductions are available, meaning some taxpayers will see a significant increase in their income taxes—potentially tens of thousands more per year. Families with preschool-aged children and those who are no longer eligible for the non-working spouse tax deduction will be particularly affected. With tax credits and deductions reduced, many […]
In the Czech Republic, both companies and sole proprietors are legally required to pay health insurance contributions. Failing to meet this obligation can lead to serious consequences, including the loss of a business license. In some cases, health insurance providers may even initiate the revocation process. This action is typically taken when an entrepreneur consistently […]
The number of self-employed individuals in the Czech Republic has risen again, reaching its highest level in the past 15 years. By the end of 2024, authorities registered nearly 28,000 more self-employed people than in 2023. Experts attribute this record increase primarily to confusion over work performance contracts. According to data from the Czech Social […]
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 […]
