Tax and legal news

On the basis of an amendment to the Income Tax Act effective from 1 June until 30 September 2022, the excise tax on diesel and unleaded petrol will be reduced by CZK 1.50 per litre as a means of mitigating the current rise in fuel prices.

The Ministry of Finance has submitted its amendment to the VAT Act to the comment procedure. The bill should increase the yearly turnover for mandatory registration for VAT to CZK 2 million (EUR 85,000) and it should become effective from 1 January 2023.

The Court of Justice of the EU was dealing with the question of whether the permanent establishment of a parent company can be created for VAT purposes in another EU member state (where the subsidiary resides) if the subsidiary provides the parent company with marketing and other services (e.g. regulatory, advertorial and representative services), and those services are invoiced monthly.

KempHoogstad have received an excellent evaluation again in the new edition of Legal 500.

On 28 February 2022, the Czech National Bank (CNB) launched steps toward the revocation of the banking licence of Sberbank CZ, a.s

On Monday 29 November 2021, the Czech government approved several legal provisions that reflect the extraordinary measures taken by the Ministry of Health with respect to the latest wave of Covid-19.