Articles

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...
What is a cryptocurrency? Is it money? Is it an asset? Is it a property, a bond?
What is a cryptocurrency? Is it money? Is it an asset? Is it a property, a bond?
13-07-2020
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,...
Uber in the Czech Republic: obligations and taxes of a driver
Uber in the Czech Republic: obligations and taxes of a driver
22-06-2020
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...
Changes in social and medical insurance payment for entrepreneurs in 2020
Changes in social and medical insurance payment for entrepreneurs in 2020
20-04-2020
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...
Information about the coronavirus from the Ministry of Labor and Social Affairs of the Czech Republic
Information about the coronavirus from the Ministry of Labor and Social Affairs of the Czech Republic
17-03-2020
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....
Important figures in 2020
Important figures in 2020
28-02-2020
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...