Tax and legal news

According to the amendment to Road Tax Act, the road tax for passenger cars and buses was abolished and a tax advantage was introduced for the use of low-emission vehicles.

A new tax on unexpected profit should become effective on 1 January 2023. The third reading of the relevant parliamentary bill – which includes voting on individual amendments – was held on Friday 4 November 2022.

An amendment proposes the extension from 1 January 203 of the extraordinary depreciation regime relating to tangible assets of the first and second depreciation groups.

Together with restrictions on school attendance during the 2020-21 pandemic, practical workplace training of future employees was also restricted.

Currently, entrepreneurs can pay tax and social security and health care contributions at the flat-rate amount if their income does not exceed CZK 1 million in a single calendar year. Many payers appreciate this, as financial and administrative simplification because they are not obliged to file a tax return or the social security and health insurance overviews.