Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 2/21/2013

Czech Republic - Individual tax, VAT and corporate tax changes 

February 21:  Pending legislative and regulatory changes in the Czech Republic include:
  • Planned changes to tax laws effective from 2014 - The “super-gross wage” concept is expected to be repealed beginning in 2014, and the individual (personal) income tax rate is expected to be 19%.
  • First experience of the amended VAT Act 2013 - Information that a supplier is an “unreliable payer” will be published in the payers register available on the Czech tax administration website.
  • Corporate law from 2014 - The parts of memoranda of association of business corporations that are at variance with the new Corporations Act will be repealed as of 1 January 2014. Corporations will then have to accommodate their memoranda of association, and agreements on exercising an office, to the new regulation within six months of the effective date of the Corporations Act.
  • Bill on Investment Companies and Investment Funds - In addition to the standard corporate forms and the already familiar institutions for collective investments, qualified investor funds may have the legal form of, for instance, a joint-stock company with variable capital or a limited liability partnership issuing units.

Read a February 2013 report [PDF 368 KB] prepared by the KPMG member firm in the Czech Republic: Financial Update (February 2013)




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