Tax News: 2007/03, No. 3  rss

Newsletter: Tax News – 2007/03, No. 3
Search Results Total: 5 / Displayed: 1–5

Recast of the Sixth Directive

Tax News   1. 3. 2007 Link

On 1 January 2007 new EU Directive [1] ("Recast") governing the common system of value added tax in all Member States came into force. The Recast supersedes the Sixth Directive [2]. The Recast was issued to simplify the Sixth Directive which, owing to numerous amendments, had become difficult to follow, unsystematic and often incomprehensible.

Increased state aid "de minimis" threshold

Tax News   1. 3. 2007 Link

European Commission Regulation no. 1998/2006 has increased the de minimis state aid threshold (a sum which, if exceeded, gives rise to the presumption that state aid can distort economic competition and is therefore incompatible with the common market).

Finance Ministry instructions D-190, D-223 and D-267 replaced with instruction D-300

Tax News   1. 3. 2007 Link

The instruction sets out the Czech Finance Ministry's interpretation of some provisions of ITA. Although not binding on tax payers, the instruction is likely to be followed by tax authorities. The wording of instruction D-300 has been more closely specified and now reflects the comments of the Czech Chamber of Tax Advisors and other conclusions approved by the Co-ordination Committee of Czech Finance Ministry and Czech Chamber of Tax Advisors.

Export Control System comes into operation in the Czech Republic

Tax News   1. 3. 2007 Link

Pursuant to amendments to Commission Regulation no. 2454/93 on implementation of the customs codex, as from 1 February 2007 the Czech Republic commenced operation of the Export Control System (ECS) (e-Export), intended to facilitate rapid electronic exchange of information between customs authorities in Member States on exports to third countries.

Chamber of Deputies: amendments to the Act on Accounting approved

Tax News   1. 3. 2007 Link

The amendments repeal the obligation to publish final accounts in electronic form in the Commercial Bulletin, since final statements are available in digital format in the documents registries of the Commercial Register.

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