Articles

Employee benefits and compensation rules have changed in 2024. In this article, we look at key changes that affect nutrition, retirement savings, training, and other important aspects related to employee benefits and compensation. Employee meals: new limits and regulations Employers can provide meals to their employees in a variety of ways: providing vouchers, organising canteens...

From 1 July 2024, all employers in the Czech Republic will be obliged to report monthly on concluded contracts for work (DPPs)  Initial provision on performance contracts The DPP changes were originally introduced by Act No. 349/2023 Coll. known as the consolidation package to improve the state budgets.  The proposal stipulated:  New obligations of employers...

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...

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...

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...

From 1 January 2023, the minimum wage has been increased by 1.100 CZK to 17.300 CZK. This base minimum wage is set for a full-time job, i.e. 40 hours of working time per week. For non-employment contracts (DPP, DPČ), the hourly minimum wage is used instead of the monthly minimum wage, which in 2023 is...

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...

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...