Blog about taxes

In the Czech Republic, every company is required not only to prepare financial statements (účetní závěrka), but also to officially approve them. At the same time, a decision must be made regarding the company’s financial result — whether profit or loss (hospodářský výsledek). These procedures are mandatory and strictly regulated by Czech legislation. The main...

Starting May 1, 2025, new rules for paying radio and TV licence fees will apply to legal entities and entrepreneurs in the Czech Republic. 📻 Who Is Required to Pay the Radio Licence Fee: Legal entities and sole traders must pay if they: 💰 The Fee Depends on the Number of Employees: Additionally: 55 CZK...

Lately, Czech banks have been increasingly asking business owners questions like:“Máte zavedené postupy AML?”“Vztahuje se na vás povinnost dodržovat zákon o praní špinavých peněz?”(“Do you have AML procedures in place?” / “Are you required to comply with anti-money laundering regulations?”) If you’re wondering what’s behind these questions — or want to be ready when they...

Starting a Business as a Sole Trader (OSVČ) in the Czech Republic means not only gaining financial independence, but also taking on certain obligations to the state. In 2025, the registration process has become slightly easier, but there are still many nuances that can be confusing: which authorities must be notified when starting self-employment, what...

In 2025, new tax regulations came into effect in the Czech Republic. The minimum wage has increased, VAT thresholds have been adjusted, and new requirements for entrepreneurs and self-employed individuals have been introduced. The Czech tax system is based on the general principles of the European Union, yet, like in any country, it has its...

Effective January 1, 2025, significant amendments to the Czech VAT Act (Act No. 235/2004 Coll.) have come into force, aimed at streamlining tax administration and aligning with European regulations. Below is an overview of the key updates, some of which take effect on January 1, 2025, while others will apply from July 1, 2025. 1....

Financial reporting is an essential part of running a business in the Czech Republic. Companies and entrepreneurs are required to track their income and expenses, file tax returns, and meet regulatory deadlines. While the core rules remain unchanged in 2025, there have been some updates: the criteria for mandatory audits have been adjusted, accounting in...

New VAT Requirements and Obligations for Non-Residents in the Czech Republic Starting from 2025 Starting in 2025, non-residents in the Czech Republic will face new requirements and obligations related to Value-Added Tax (VAT). These changes aim to align with updated European Union VAT regulations and ensure compliance with the evolving tax framework. Here is an...

From 2025, changes will come into force for individual entrepreneurs (OSVČ) and self-employed persons in the Czech Republic, which will significantly increase their financial burden. The increase concerns the minimum social and health insurance contributions as well as the flat tax (paušální daň) for participants in the simplified tax regime. These changes are aimed at...

Employee benefits and compensation rules have changed in 2024. In this article, we look at key changes that affect nutrition, retirement savings, training, and other important aspects related to employee benefits and compensation. Employee meals: new limits and regulations Employers can provide meals to their employees in a variety of ways: providing vouchers, organising canteens...

From 1 July 2024, all employers in the Czech Republic will be obliged to report monthly on concluded contracts for work (DPPs)  Initial provision on performance contracts The DPP changes were originally introduced by Act No. 349/2023 Coll. known as the consolidation package to improve the state budgets.  The proposal stipulated:  New obligations of employers...

Owning and renting property in the Czech Republic involves a range of tax obligations and benefits that entrepreneurs must consider. In a detailed seminar by Irina Yakunina, Managing Partner at DoMyTax, key tax aspects related to this topic were thoroughly discussed. Main Types of Rental and Their Taxation 1. Long-term Rental: • Considered as rental...