You have a new business partner? Your legal address changed? Please read following information about how to make typical changes in registration details of your company: https://firma.domytax.cz/en/making_changes_in_a_company_structure_in_czech_republic
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In the Czech Republic, every company is required not only to prepare financial statements (účetní závěrka), but also to officially approve them. At the same time, a decision must be made regarding the company’s financial result — whether profit or loss (hospodářský výsledek). These procedures are mandatory and strictly regulated by Czech legislation. The main...
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Important figures in 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...
VAT on electronic services in EU. MOSS Scheme
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...
Opening an account in the Czech Republic (Czechia) for a non-resident company
Why do foreign companies need to open accounts in Czech banks and what is the procedure? How can DoMyTax be helpful in this task? This is what we will cover in this article. Does your company cooperate with companies from Europe? Do you need state guarantees to protect your funds held on the account? Do...