Tax and legal news

The new provisions of Section 72(4) of Act no. 280/2009 Coll., the Tax Code, effective from 1 January 2015 states (in brief) that every taxpayer who has access to his/her data box ("datová schránka") or is legally obliged to have final accounts verified by an auditor is obliged to send listed submissions only via the data box.

Czech tax residents may now open a "tax information box" (in Czech "daňová informační schránka" or DIS) with the Czech Tax Authority. This means that tax payers can access their tax account at the tax authority on-line and check their tax registration information, payments, tax liabilities, related documents, and other useful information.

Please let us inform you about the employees’ duty to file the 2014 personal tax returns.

The judgement of the Supreme Administrative Court, no. Afs 170/2014 – 42, regarding the correction of VAT on receivables assigned to debtors in insolvency.

At the last moment on 22 December 2014, the Chamber of Deputies approved the version of the amendment that had been returned by the Senate for further debate, which means that:

The Ministry of Finance continues to deal with the problem of the “grey economy”, especially the record-keeping of cash sales. It would like to ensure more effective tax collecting without increasing the tax burden. Moreover, the ministry would like to have an overview of current real sales. The system should be simple, and it should use existing technologies.