Mazars Tax View - March 2016

In the third issue of our newsletter we are bringing you an interpretation of the provision of Section 24/2/zc, the use of which in corporate income tax returns for the year 2015 requires heightened awareness and caution. Since a government Decree that once again extended the local reverse charge for VAT, this time for electricity and gas, came into effect on 1 February 2016, we also take a look at this theme.

Seeing that the deadline is approaching for submitting personal income tax returns, we bring you a concise overview of the most important changes for the 2015 tax period, one of which is undoubtedly the new information obligation concerning exempt income higher than 5 million CZK. You should pay special attention if you sold a share in a company or securities last year.Since many of you submitted a control report for the very first time in February, we are planning on taking a look at the first practical experiences with the submission of this report and the related challenges from the tax administrators.

We wish you pleasent reading!