Articles

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...

We will describe a turnover between the Czech Republic and other EU countries in this article. Although the same rules and regulations apply to all the EU countries, there are some nuances in the legislation of a particular country. Today we will look at the situation from the position of the Czech Republic in relation to...

Value-added tax (DPH – Daň z přidané hodnoty in Czech) is one of the most important taxes in the taxing system. It is deducted from every item or a service merchandized in the country. This type of tax can be compared with a bearing wall during the construction of the state budget. All companies registered...

We already described ways of obligatory registration of a physical or a legal person entrepreneur as a VAT payer in our blog post. Here we will introduce one more way to register as a VAT payer, specifically as an identified person (Czech editor’s note ‘identifikovana osoba’, hereinafter only identified person). What is it and what...

Do you plan to rent your apartment/house out but still have concerns regarding taxes? Then this material is exactly what you need. In this article, we will describe such a type of rental property, when an apartment owner rents it out as an individual without opening a business license. First, let’s turn to the tax...

Another wave of increase in the minimum wages in the Czech Republic for all categories will influence not only 150 000 employees, but also, for instance, recipients of the tax discounts or private entrepreneurs who make minimum mortgage payments for health insurance. Reasoning The minimum wage at the beginning of 2019 will increase for the...

Tax policy of the Czech Republic regarding cryptocurrencies, mining cryptocurrencies and selling merchandise and services for cryptocurrencies. All the mentioned points are described in this article. Methodological introduction. The concept of «cryptocurrency» Currently, there are more than 1000 virtual or digital «currencies» also called cryprocurrencies (“kryptoměny (KM)” in Czech) in the world. The most popular ones...