Tax News: 2007/10, No. 10  rss

Newsletter: Tax News – 2007/10, No. 10
Search Results Total: 7 / Displayed: 1–7

Judicature by the Constitutional Court Applicable to Malice in Law

Tax News   1. 10. 2007 Link

At the end of October 2007, the Constitutional Court denied a constitutional complaint against a decision by the Supreme Administrative Court and admitted that “malice in law” may be applied to tax issues.

Altered Interest Rate

Tax News   1. 10. 2007 Link

The banking council of the Czech National Bank decided to raise the 2T repo rate to 3.50%, the discount rate to 2.50% and the Lombard rate to 4.50% at its meeting held on 29 November 2007. The new rates shall apply beginning 30 November 2007.

Instruction No. D-312

Tax News   1. 10. 2007 Link

The Ministry of Finance issued Instruction No. D-312 regarding application of reduced tax rates to license fees under the Double Taxation Treaty between the Czech Republic and Belgium. The Instruction sets forth, for the purposes of the aforementioned Treaty, that the listed license fees may be taxed in the country of origin by not more than 5 percent of the gross amount thereof. The Instruction shall take effect on 1 January 2008.

Double Taxation Treaty between the Czech Republic and Bosnia and Herzegovina

Tax News   1. 10. 2007 Link

The Ministers of Finance of the Czech Republic and Bosnia and Herzegovina signed a Double Taxation Treaty between both countries on 20 November 2007. The Treaty shall result in termination of the provisions of the Double Taxation Treaty between the Czechoslovak Socialistic Republic and the Socialistic Federative Republic of Yugoslavia (applicable to Income and property taxes) signed in Prague on 2 November 1981. The termination shall take effect on the effective date of the new Treaty. This may occur on 1 January 2009 if the following legislative procedure in both countries proceeds in the standard manner.

Beginning January 2008, VAT Payers May Apply for Group Registration

Tax News   1. 10. 2007 Link

The effectiveness of the Act on Stabilization of Public Budgets will provide VAT payers with the alternative of group VAT registration. The group registration makes it possible for affiliated parties (companies) to act as a single VAT payer with a single registration number for VAT purposes. This means that an entire corporate group will only file a single VAT tax return. Supplies delivered between individual group members are not deemed to constitute taxable supplies. The first groups of VAT payers shall be registered effective 1 January 2009, provided that they apply by 31 October 2008 at the latest.

Deadlines in Tax Proceedings

Tax News   1. 10. 2007 Link

In connection with the tax entity’s authorization to draw attention to the tax administrator’s inactivity on the grounds of processing filings by tax entities by reasonable deadlines, the Ministry of Finance issued Instruction No. D-308 imposing deadlines on tax administrators for processing filings by tax entities and other parties involved in tax proceedings.

2008 Foreign Currency Food Allowance Base Rate

Tax News   1. 10. 2007 Link

The Ministry of Finance issued Decree No. 338/2007 – on calculation of base rates of food allowances in foreign currency for 2008. Decree No. 549/2007 Coll., on base rates of food allowances in foreign currency for 2007 shall terminate on the new Decree’s effective date, i.e. 1 January 2008.  

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