Czech Republic: Amendments to bill containing proposed direct and indirect tax changes
Amendments to bill containing proposed direct and indirect tax changes is expected to apply beginning 1 January 2024
Amendments to bill containing proposed direct and indirect tax changes
The government has agreed on amendments to the bill containing proposed direct and indirect tax changes announced in May and expected to apply beginning 1 January 2024. Read TaxNewsFlash
The amendments include:
- Possibility to keep accounts in foreign currency
- Taxation of realized exchange rate transactions only
- Taxation of non-monetary employee benefits
- Abolition of exemption for managers’ accommodations
- Simplified records for agreements to perform work
- Unified 12% value added tax (VAT) rate for newspapers and periodicals
- Slower pace on increase to excise duty on electronic cigarettes, but faster pace on increase to excise duty on alcohol
Read an August 2023 report prepared by the KPMG member firm in the Czech Republic
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