Tax advice

Reduction of the entry price of a low-emission vehicle when using the car for business and private purposes The Income Tax Amendment Act reduces from 1% to 0.5% of the entry price of the vehicle for each calendar month the so-called add-on when using the vehicle for business and private purposes for low-emission vehicles.  A...

Under Section 38v of the Income Tax Act, individuals are obliged to report income exempt from income tax if it exceeds the threshold of CZK 5 million. Such an obligation may arise, for example, in the case of a transfer for consideration of a share in a business corporation that is exempt from personal income...

Decree 511/2021 Coll. on travel allowances has already been amended twice this year. In both cases, the decreed price of fuel was changed. As of 20 August 2022, the price of 98 octane petrol for the purpose of travel reimbursements has been increased to CZK 51.40 per litre. The price of 95 octane petrol will...

You need different document flows for different sized companies /clients/. For an accounting firm /its employees/ you need a uniform flow. Flow that you can automate, thus reducing the cost of document processing... ISDOC will improve the life of the company, but it won’t save it... You need to have both a combination option and...

With effect from 1 June to 30 September 2022, the excise duty rate on petrol and diesel will be temporarily reduced by CZK 1.50 per litre. After VAT, the final price for drivers at the pump should drop by up to CZK 1.80 per litre.

Not everyone who has a child is entitled to the 5,000 allowance... The government has backed a law on the conditions under which the allowance can be drawn. Part of the parents will get it automatically and the other part after meeting the conditions. The main criterion, the child’s residence in the Czech Republic and...

Jaspar is the responsible agent for importers of alcohol. This obligation is based on the Law on Compulsory Labelling of Alcohol. On behalf of the companies, we make the registration with the customs office and submit a continuous tax import report.

On 1 July 2022, an amendment to the Road Tax Act comes into force: You are not obliged to pay the tax for cars and trucks up to 3.5 tonnes 100% exemption for trucks up to 12 tonnes So only vehicles over 12 tonnes apply, tax rates for lorries over 12 tonnes have been significantly...

VAT refund on real estate It’s Thursday afternoon and my phone is ringing... “Hello Mr Jaspar, I am the owner and creator of XYZ companies, we bought a non-residential space, I have had problems in my personal life and I want to reclaim the VAT... ” Of course I am making light of this, shortening...

The Law Corporate income tax liability is governed by Act No. 586/1992 Coll., on Income Taxes, as amended for the relevant tax period (hereinafter referred to as the “Income Tax Act”). Tax period The tax period for corporate income tax is calendar year, the financial year, the period from the operative date of a merger...