Compensation Bonus for Sole Proprietors
Additional support from the Ministry of Finance and Tax Authorities is planned for self-employed persons (sole proprietors) whose business has been adversely affected in connection with the spread of the coronavirus. Who is the support for? What form will it take? What do you need to be eligible? The answers are in the article below.
Crisis measures for social security and health insurance UPDATE01
Currently, when measures are being taken due to the coronavirus epidemic, a number of questions arise regarding the payment of social security and health insurance premiums. In addition, self-employed persons are resolving, for example, how the permitted late filing of income tax returns will affect the deadline for submitting an overview of income and expenditure for 2019 and the payment of insurance premium supplements and other advance payments.
Credit financing in the time of COVID - basic impacts on financing contracts
General questions with respect to the impact of extraordinary measures on contractual relations have been mentioned HERE, in relation to financing contracts there are certain specifics, the basic outline of which is set forth in this note. In addition to arrangements between suppliers and customers, financing contracts are another cornerstone of any business and private life, so due attention should be paid to them in times of emergency measures so that the particular entities have not lost access to financing of their business and other activities.
COVID II programme – Government financial support for self-employed and small and medium-sized enterprises
Aid for self-employed persons ('self-employed') and small and medium-sized enterprises ('SMEs') affected by anti-coronavirus measures pursuant to the Czech Government’s 'COVID GUARANTEE' programme was exhausted in one day. On Monday, March 30, 2020, the terms and conditions of the follow-up COVID II program will be published, in which CZK 5 billion should be available. The rush of applications is expected, so action needs to be taken quickly and not delayed.
Support in the form of subsidies or "carer allowance" for self-employed
As of April 1, 2020, self-employed persons (“self-employed persons”) can file applications for so-called carer allowance benefits at the Trade Licensing Office in the amount of CZK 424 per day. However, it is not a special social benefit, as initially envisaged, but a State aid in the form of a grant with a stricter regime. Below is a brief overview of the conditions for obtaining this form of assistance.
What impact do the new tax measures have on VAT payers' obligations?
VAT payers, who have monthly obligations, may no longer be oriented in the flood of newly adopted tax measures to help taxpayers to overcome the current situation caused by the spread of the coronavirus. For this reason, we provide a brief overview of the tax measures specifically related to VAT and add some important remarks that should be kept in mind.
Crisis measures for social security and health insurance
Currently, when measures are being taken due to the coronavirus epidemic, a number of questions arise regarding the payment of social security and health insurance premiums. In addition, self-employed persons are resolving, for example, how the permitted late filing of income tax returns will affect the deadline for submitting an overview of income and expenditure for 2019 and the payment of insurance premium supplements and other advance payments.
Tax relief will be extended. Ministry of Finance has prepared a second liberalization package
In addition to the already approved liberalization package, which we have already reported in detail in recent days, the Ministry of Finance has prepared further measures to help taxpayers bridge the emergency caused by the current situation caused by the spread of coronavirus. What is the content of the second liberalization package?
How to proceed with income tax advances in the current situation? And what if we expect a tax rebate (i.e. we have overpaid advances)?
On our blog, we have already reported on the mitigating tax measures approved by the government in relation to the current situation caused by the spread of coronavirus. The Ministry of Finance has now prepared further measures, which also relate to obligations to pay advances for income tax. So what are the options and obligations in the area of advance payments now? What if the taxpayer expects a tax overpayment? The comments below concern mainly taxpayers who are subject to the end of the deadline for filing income tax returns on April 1, 2020.
How to sign documents electronically in the time of coronavirus (or any other time)?
When and how can contact with a counterparty be avoided and the document signed electronically? Is it possible to consider the electronic way of signing relevant for the eligibility of such a conclusion of a contract and how does Czech legislation and case-law treat this?
Czech Government Approves Mitigation Measures Related to Coronavirus Emergency UPDATE02
In connection with the coronavirus emergency, the Czech government has approved a liberation tax package aimed at mitigating the consequences of the emergency. What does it contain?