Articles

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...

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,...

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...

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...

The point is that there still is no common understanding regarding what cryptocurrency is. The notion is interpreted differently in different countries. In some countries like Japan, Switzerland, and the United Kingdom, cryptocurrency is considered as payment means, however, they are not considered as currency.  In Australia and the United States, they are considered as property,...

To work with Uber in the Czech Republic, it is necessary to fulfill a number of obligations:  1. To register as an individual entrepreneur:  the provision of transport services is an economic activity and is subject to registration. This type of activity can be registered as the individual entrepreneurship (OSVČ) or a firm and should...

Due to the epidemiological situation in the country, the Parliament of the Czech Republic adopted a number of measures that will help entrepreneurs survive the decline in their economic activity in 2020. The changes will be related to social and medical insurance advance payments as well as to the terms of submitting profit reports for...

Are you employed in the Czech Republic? The Ministry of Labor and Social Affairs informs regarding your obligations during the COVID-19 outbreak. First, it is recommended that you become familiar with the official Czech Ministry of Health point of view and follow the letter of the law which considers several scenarios for every full-time employee....

Minimum wage – 14.600, – CZK The size of minimum deductions for health insurance from citizens without income – 1.971, – korunas The average salary for calculating pensions is 34.835, – CZK Minimum business deductions for 2020: Social insurance – 2.544, – CZK (a new amount of contributions is paid starting from April 2020, after...

The new 2020 year brought a lot of changes and updates. Some of them took effect since the 1st of January, 2020; others will come into force after the 1st of May, 2020. We will briefly describe the main news in this article. The increase of a minimum wage since 01.01.2020 This change will influence...

What is Electronic Service? Four years ago, the European Union has adopted changes to VAT place of supplies rules in relation to electronic supplies, including telecommunication and broadcasting. There are three types of electronic services: Telecommunication services used for the transmission and reception of signals through wires, optical or electromagnetic systems. This can be the services...

Despite the fact that the number of transactions carried out in cash among Czech companies and entrepreneurs is decreasing rapidly, they still take place. We live in a digital era ruled by the same digital money, however today we are going to describe the role of cash in financial reporting and accounting, the limits on...