Articles

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...

Liechtenstein, known for its stable legal and economic environment, offers a unique opportunity for establishing family foundations. These foundations provide asset protection, management flexibility, and high confidentiality. Benefits of a Family Foundation 1. Asset Protection: Reliable protection from creditors and third parties. 2. Confidentiality: All information about owners and beneficiaries is strictly confidential. 3. Management...

Registering a holding company in Luxembourg offers unique opportunities to organise a holding company in a reputable, stable jurisdiction. Find out why more and more international companies are choosing Luxembourg. Key benefits: Why Choose DoMyTax: DoMyTax offers a full range of services for the registration of holding companies in Luxembourg: Contact us today: Start the...

We are pleased to announce the launch of our new service — turnkey registration of a holding company in the Czech Republic. This product is designed for companies seeking to optimise tax costs, diversify risks and improve asset management. The service offer and its price can be found here. Advantages of a holding company Why...

As of January 1, 2024, the Czech Republic experienced a sharp increase in property tax rates, by about 80% compared to 2023. For some taxpayers, the tax increased several times due to the introduction of local increasing coefficients. Taxpayers did not have to file a tax return due to the change in rates. The tax authority itself...

DPP / DPČ working contracts are very popular in labour relations because of their flexibility and  low taxation for the employer. Beginning from October,1, 2023, the Labour Code was amended, resulting in significant changes in the regulation of work contracts (DPP) and employment contracts (DPČ). There are new obligations and rights for both employers and employees,...

Changes in VAT rates The consolidation package of measures brought changes also in the Czech VAT. In particular, the VAT rates have changed. Instead of the existing 2 reduced rates: 15% and 10% from 1 January 2024 will be reintroduced only one — 12%. The basic rate will remain unchanged.  Transfer between different VAT rates...

President Petr Pavel has signed the «Konsolidační balíček» — a package of measures to revitalise the Czech Republic’s economy, which will reduce the budget deficit by CZK 150 billion totally in the next two years. The measures out of 65 amendments to laws will start to take effect on 1 January 2024. We have selected...

From 2023, the income limit for the possibility of being a single tax payer has been increased to 2 million kronor, with three levels of taxation introduced. When switching to a flat rate tax system (paušální daň), a self-employed person (OSVČ) gets rid of the obligation to declare income tax and to report to the social and health insurance...

How to do business with blacklisted companies In recent years, there has been a significant increase in the number of companies that are blacklisted and become unreliable VAT payers. Entrepreneurs and companies should treat transactions with such organizations with caution. According to the legislation, an unreliable VAT payer is considered to be a taxpayer who...

Currently and until the end of September, the so-called «tax holiday» according to Act 182/2023 Coll. and the «insurance holiday» according to Act 181/2023 Coll. are in effect. This is an action from the state, which allows you to get rid of penalties and other costs related to taxes and social contributions not paid on time. The tax holiday applies...

Value Added Tax (VAT) is a tax that is applied at every stage of the production and sale of goods and services. However, VAT payers are entitled to a refund for this tax from the budget of Czechia. In this article, we will talk about the terms and conditions that must be observed in order...