Dear Readers,
We are bringing our short news for October 2023:
- The Chamber of Deputies approved the consolidation package on 13 October 2023 (Parliamentary Press No. 488); the press’ discussion by the Senate was included in the agenda of the 18th meeting (starting on 8 November 2023). We are monitoring the legislative process and will keep you informed about the progress.
- On 27 October 2023, the Chamber of Deputies approved a law amending Act No. 235/2004 Coll., on Value Added Tax, that will introduce new obligations for payment service providers from 1 January 2024; you can find background information in our previous article. At the same time, the Financial Administration published related information on their website.
- The Chamber of Deputies approved the Act on Top-up Taxes (the global minimum tax; Parliamentary Press No. 515) on 27 October 2023; the bill will be discussed in the Senate.
- An amendment to the Labour Code (281/2023 Coll.) came into force on 1 October 2023; you can find a summary in our previous article.
- A law amending laws related to the financial market’s development has been in the legislative process (Parliamentary Press No. 474). A proposed amendment submitted during the law’s discussion deals with taxation of employee stock schemes (deferral of income’s generation to specific moments is being proposed); another submitted proposed amendment is to modify Section 34c (5) of the Act on Income Taxes (a deductible item for research and development – additional evidence could be used in the event of the tax administrator’s doubts). We are monitoring the legislative process and will keep you informed.
- The EU Council updated the list of non-cooperative jurisdictions to include Antigua and Barbuda, Seychelles and Belize. Quite to the opposite, the British Virgin Islands, Costa Rica and the Marshall Islands were removed from that list.
- The average salary for 2024 will amount to CZK 43,967 (based on the general assessment base for 2022 in the amount of CZK 40,638 and the re-calculating coefficient at 1.0819) on the basis of Government Regulation No. 286/2023 Coll.
- Please be advised that the tax Merciful Summer is in effect until the end of November 2023. Individuals who will pay their arrears on tax accrued before 30 September 2022 by that deadline can apply for remission of the tax’s accessories. The Financial Administration published more information here.
- Please note that the CBAM Regulation (introducing the carbon tax) came into force in October 2023.
- The Financial Administration launched a new service of filling in returns for real property tax. The service of pre-filling the tax return can only be used by users logged in the Tax Information Box plus (DIS+) at the MOJE daně (My Tax) portal; you can find more information here.
- The Financial Administration has repeatedly advised road tax payers and namely former payers with a road tax overpayment to apply for the overpayment’s return (overpayments primarily resulted from the cancellation of the road tax liability in relation to passenger vehicles and payment of advances). According to the Financial Administration, tax offices carry overpayments in the approximate amount of CZK 635 million; more information is available here.
- The Financial Administration published information on providing data for the payment of real property tax to data boxes; you can obtain more information here.
- The Ministry of Finance issued the following Financial Newsletters:
- No. 11/2023: A list of contracting states complying with a common standard regarding reporting and material days published pursuant to Section 13b (2), Section 13e (7), Section 13g (5) and Section 13p (2), and a list for the purpose of discharging the duty to inform pursuant to Section 13s (1) of Act No. 164/2013 Coll., on International Cooperation in Administering Taxes and on a Change in Other Related Laws, as amended (the “List of Contracting States”); and
- No. 12/2023: A list of states presented in the EU list of non-cooperative jurisdictions from the tax area approved by the EU Council.
Michaela Kozminská
kozminska@edmutilitas.cz
