Articles

In 2023, Datova Schranka will become mandatory for entrepreneurs
In 2023, Datova Schranka will become mandatory for entrepreneurs
23-01-2023
2023 has brought a number of changes to tax legislation.  The important matter of the registration of electronic Datova Schranka for individual entrepreneurs (IPs) simply cannot be overlooked. Up until now, IPs were not obliged to have a data box, but they could voluntarily acquire one by going to any Czech point. Andrej Babiš’ government...
The turnover limit for VAT registration has been doubled
The turnover limit for VAT registration has been doubled
13-12-2022
Mandatory registration as a value added tax (VAT) payer usually occurs where turnover exceeds 1 million Czech crowns within 12 consecutive calendar months. An exception does include entrepreneurs who only make non-refundable transactions, which are exempt from tax.  From January 2023, a large package of tax changes will come into effect. The most anticipated new...
DoMyTax in the UAE and the Middle East
DoMyTax in the UAE and the Middle East
19-08-2022
The international company DoMyTax is expanding its portfolio of services to the Middle East (UAE)! This means that you can now receive UAE tax advice, company registration, bookkeeping and audit services in the UAE. Full list of jurisdictions served today: UAE 🇦🇪, Czech Republic 🇨🇿, Poland 🇵🇱, Lithuania 🇱🇹 and Germany🇩🇪. Now you can easily...
How to withdraw funds from a company legally
How to withdraw funds from a company legally
30-05-2022
It is more difficult to withdraw money from your own business than you might think. In fact, the rules around withdrawing money create problems for business owners, due to tax law regulations. However, we can guide you through some legal solutions to these issues.  Withdrawing funds through dividend payments:  Many experienced tax consultants consider dividend...
Determination the right place of social and health insurance for EU citizens
Determination the right place of social and health insurance for EU citizens
01-12-2021
Our article will help to solve the problem of choosing a right place for social and health insurance for the citizens of the European Union (EU), when working not only in the country of permanent residence. Each citizen, who lives in one of the EU country has to be socially protected and has to get...
How to transfer the real estate from a company to yourself and eliminate an unwanted s.r.o.?
How to transfer the real estate from a company to yourself and eliminate an unwanted s.r.o.?
07-09-2021
Prior 2009, foreigners were not allowed to purchase the Czech real estate. As a solution for purchasing the real estate, a Czech company was registered for which the real estate property later on was purchased. Because a change of real estate ownership from a company to founders was a subject to a real estate transfer...
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...