Articles

Import modes: IOSS and outside of the EU. Distance sales of goods imported from third countries
Import modes: IOSS and outside of the EU. Distance sales of goods imported from third countries
14-06-2021
Let us review two import modes: IOSS and outside of the EU. IOSS mode Until June 30 2021, the buyer has to pay VAT on imported goods from third countries, if the value of each item is higher than 22 EUR. Goods, with the value not exceeding 150 EUR, are exempt from customs duties. Starting...
EU mode: new VAT rules for distance sales
EU mode: new VAT rules for distance sales
14-06-2021
Starting July 1, 2021, the currently operating “mini One Stop Shop” (MOSS), about which we previously wrote in our article, will expand. The MOSS mode that currently applies to telecommunications, broadcast and electronic services will cease to be the “mini”, but becomes the OSS (in English: “One Stop Shop”) and will also apply to distance electronic...
New VAT rules for distance sales (“e-commerce”) starting 1 July 2021
New VAT rules for distance sales (“e-commerce”) starting 1 July 2021
14-06-2021
We are presenting you a series of articles about innovations in e-commerce distance sales. In this article, we describe the basic matters related to OSS mode. Who can use the OSS special mode? • E-shop owners: distance sales of goods via e-shop to end consumers of the European Union, individuals (B2C) • Companies and entrepreneurs...
Law changes related to the deduction of income tax losses. / What to do with the 2020 losses?
Law changes related to the deduction of income tax losses. / What to do with the 2020 losses?
02-03-2021
The year-end reporting time is quickly approaching, which means it is time to take stock for 2020. Due to the COVID situation, a number of laws have been amended. One of them is the regulation of the deduction of tax losses, enshrined in Law No. 299/2020, which entered into force on 1.7.2020. This option is...
Tax Revolution 2021. Considerable Government Support for Employed Workers
Tax Revolution 2021. Considerable Government Support for Employed Workers
19-01-2021
The Czech Parliament approved the long-awaited tax package of Law 609/2020 Sb. from 22.12.2020, which amends some taxation and other laws. One of the most significant changes is the cancellation of super-gross wages “superhrubé mzdy”, which means an increase in net wages for all employed persons. The wages of most employed workers in the Czech...
Single tax flat rate (paušální daň) for Individual Entrepreneurs
Single tax flat rate (paušální daň) for Individual Entrepreneurs
07-01-2021
Starting from January 1, 2021, Czech individual entrepreneurs will be able to voluntarily choose a new system of paying for the income tax and transferring monthly premiums to social and health insurance funds. This means there will be one combined payment instead of three (as before); and there will be no need to file your...
BREXIT – how to prepare for the end of the transition period
BREXIT – how to prepare for the end of the transition period
11-12-2020
BREXIT will in one way or another affect all companies and entrepreneurs registered in the UK. Since the country will leave the European Union, it will become a so-called “third country”. Trading companies selling and purchasing goods from the European Union will feel the most significant changes. Also, manufacturing companies that purchase raw materials from...
Amazon for non-residents of the Czech Republic
Amazon for non-residents of the Czech Republic
01-12-2020
We in general terms discussed this topic in our introductory part. Below we will explain the specifics of Amazon sales for non-tax residents of the Czech Republic. We would like to remind you that everything described applies to Amazon, eBay and other e-commerce platforms. In a previous blog post, we took a close look at how...
Amazon for Czech tax residents
Amazon for Czech tax residents
01-12-2020
This topic in general terms was discussed in our introductory article. Below we will explain the specifics of Amazon sales for tax residents of the Czech Republic. We would like to remind you that everything described applies to Amazon, eBay and other e-commerce platforms. In the table below, let us review in detail the VAT obligations...
Selling goods on Amazon. General Overview.
Selling goods on Amazon. General Overview.
01-12-2020
Today it has become very popular to sell products via online shops using e-commerce platforms. One of the most famous online sale platforms is Amazon. If you decide to use Amazon for selling goods, it would be helpful for you to be familiarized with tax responsibilities in details. Amazon offers different options for business cooperation,...
The real estate acquisition tax is cancelled!
The real estate acquisition tax is cancelled!
21-09-2020
On the 15th of September, 2020 deputies finally approved the cancellation of the real estate acquisition tax. Once it is signed by the President of the Czech Republic, this law will be published in the Collection of laws.  The purpose of the update is to create more comfortable conditions for purchasing accommodation, to stimulate the real...
Representation abroad: when is it required to organize it?
Representation abroad: when is it required to organize it?
05-08-2020
Are you an entrepreneur, an individual or a legal entity that provides services or sells goods on the territory of another state? Both foreign companies doing business in the Czech Republic and Czech firms trading in other countries under certain conditions must additionally register for the income tax and VAT. The income tax law lists...