Changes in CFC regulations

We would like to bring your attention to new CFC (Controlled Foreign Companies) regulations which were passed by the parliament and will probably take effect as of 2022 CFC reconciliations: Extension of the definition of a foreign entity for CFC purposes (earlier: share in equity, profit or participation in company’s bodies of related parties of […]

Retrospective deduction of the input tax

In the tax ruling dated September 21, 2021, ref. 0112-KDIL3.4012.216.2021.2.MBN, the Director of the National Tax Information System (hereinafter: “DNTIS”) confirmed the taxpayer’s position that it is entitled to deduct input VAT on the outlays made in connection with the construction of a residential and commercial building, and the mere fact that taxpayer did not […]

October tax calendar in the Czech Republic

To avoid any threat of penalties calculated based on late submissions, or late payments, we summarized the crucial deadlines in October that should be taken into consideration with respect to your business in the Czech Republic: 11.10. – Excise duty due date, excluding excise duty on alcohol for August 202114.10. – Submission of Intrastat declarations in paper […]

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