Closing or pausing your business in Czechia

VAT (value-added tax) is often called a universal one as it is very frequently paid by physical and legal persons. It is obligatory in most countries including the Czech Republic to pay VAT. There are certain cases when companies and sole traders must register as VAT payers and we will describe them here. Type 1...

As of January 1, 2024, the Czech Republic experienced a sharp increase in property tax rates, by about 80% compared to 2023. For some taxpayers, the tax increased several times due to the introduction of local increasing coefficients. Taxpayers did not have to file a tax return due to the change in rates. The tax authority itself...

The maximum tax benefit that can be used by parents whose children attend preschool institutions in 2017 was increased to 1100 korunas for each child. The maximum discount in 2017 was 11 000 korunas, comparing to 9900 korunas available for taxpayers in 2016. When completing the Declaration on Income Tax from the Population for 2017...

Starting in 2025, the cryptocurrency market in the Czech Republic will enter a phase of significant transformation. The pan-European MiCA (Markets in Crypto-Assets) regulation will come into force, establishing unified legal standards for all industry participants. This marks the end of legal uncertainty and the beginning of crypto companies operating under clear and predictable rules...

Minimum wages in the Czech Republic were increased to 12 200 CZK in 2018. An increase in this value naturally leads to an increase in minimum possible deductions for medical insurance. They are equal 1647 korunas now. Even if an employee works under the contract on a part-time employment and earns 2000 or 3000 korunas...