Closing or pausing your business in Czechia

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...

Another wave of increase in the minimum wages in the Czech Republic for all categories will influence not only 150 000 employees, but also, for instance, recipients of the tax discounts or private entrepreneurs who make minimum mortgage payments for health insurance. Reasoning The minimum wage at the beginning of 2019 will increase for the...

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...

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...

Basic business registration item — legal address,  why it’s needed and where to get it: https://firma.domytax.cz/en/legal_address_in_czechia