Tax and legal news

The General Financial Directorate informs in its Financial Bulletin [Finanční zpravodaj] no. 3/2014, sec. 84/2014 FB that the interim period for sending payments to the financial offices’ old and new bank accounts will end on 31 December 2014.

The General Financial Directorate issued information on a change in the status of tax payers in accordance with section 1(1) of the legal measure of the Senate no. 340/2013 Coll., on taxes relating to the acquisition of immovable assets.

In June 2014, KempHoogstad will have been in business in the Czech Republic for 8 years.

On 19 March 2014, the First Deputy Prime Minister, Andrej Babiš, introduced draft tax measures that he would like to discuss with the coalition partners. The proposed measures are divided in four areas: legislative changes effective from 2015, Act no. 458/2011 Coll. (the act on changes to acts relating to the establishment of a single collection point and other amendments to the tax and insurance acts), measures against tax evasion, and international cooperation.

Prague hosted the Regional Congress of the IFA (the International Fiscal Organisation) at the beginning of February. The discussions were about crucial changes expected in international taxation in upcoming years.

The amendment to the Income Tax Act effective since 2013 introduced a new “solidary income tax increase”. This means that personal income exceeding a certain limit is taxed by a higher tax rate.