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Blog about taxes

It’s still possible to submit your annual report for 2022 without any penalties!
It’s useful for all tax-paying residents of the Czech Republic to know that if you didn’t manage to file a tax return before 3.4.2023, for any reason, don’t be upset since there is one more opportunity to avoid any penalties! You can submit a report in electronic form until 2.5.2023. And we’ll show you how...
Taxation on Income from Investments
In this article, we’ll go over the various kinds of taxation on investment income, such as dividends, interest on deposits, debt holdings, P2P loans, sales of shares, cryptocurrencies, real estate, and several other investment vehicles. Income from the investment categories mentioned can be divided into two groups: Income from ownership, §8 of the Income Tax...
The turnover limit for VAT registration has been doubled
Mandatory registration as a value added tax (VAT) payer usually occurs where turnover exceeds 1 million Czech crowns within 12 consecutive calendar months. An exception does include entrepreneurs who only make non-refundable transactions, which are exempt from tax.  From January 2023, a large package of tax changes will come into effect. The most anticipated new...
DoMyTax in the UAE and the Middle East
The international company DoMyTax is expanding its portfolio of services to the Middle East (UAE)! This means that you can now receive UAE tax advice, company registration, bookkeeping and audit services in the UAE. Full list of jurisdictions served today: UAE 🇦🇪, Czech Republic 🇨🇿, Poland 🇵🇱, Lithuania 🇱🇹 and Germany🇩🇪. Now you can easily...
How to withdraw funds from a company legally
It is more difficult to withdraw money from your own business than you might think. In fact, the rules around withdrawing money create problems for business owners, due to tax law regulations. However, we can guide you through some legal solutions to these issues.  Withdrawing funds through dividend payments:  Many experienced tax consultants consider dividend...
How to properly issue an invoice in the Czech Republic?
An invoice (daňový / účetní doklad / faktura) is a document that is used to submit a request for payment for services or goods. In the Czech Republic, there is no specific law that regulates the rules for its preparation, the law points out only the mandatory data that has to be included in the...
EU mode: new VAT rules for distance sales
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
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...
Tax Revolution 2021. Considerable Government Support for Employed Workers
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...