Mazars Tax View - November 2021
We would like to briefly present the contents of the November issue of our tax newsletter. In the initial article, we introduce you to the decision of the Supreme Administrative Court regarding the fixed assets created through one’s own activities, the proper identification of which is important for the application of the right to a VAT deduction.
This issue continues last issue’s look at the amendment to the VAT Act and we will present some more changes that this amendment brings. We will also inform you of the interpretation of the National Accounting Board, which deals with the conversion of foreign currency receivables.
We summarise the recent decision of the Supreme Administrative Court, dealing with the question as to whether the activities of the members of statutory bodies can be an economic activity from the perspective of the VAT Act. We are also bringing you commentary on the decision of the Municipal Court in Prague, which reclassified rental income from Airbnb to income from self-employment.
This decision could have a significant impact not only on the area of personal income tax and on the related social and health insurance payments, but also on the area of VAT.
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