Other changes arising from the Act on stabilisation of public budgets
Change to the Act on cash registers
The Act on stabilisation of public budgets incorporates amendments to the Act on cash registers, repealing the obligation to keep records of payments using a cash register. The original intention was that this obligation would come into force on 1 January 2008.
New exemptions from inheritance and gift tax
As from January 2008 exemptions from taxation under the Act on inheritance and gift tax will increase. Acquisition of assets by inheritance and donation will become fully exempt from tax if the assets are acquired after 31 December 2007 by persons in class II (distant relatives). Currently, full exemption is restricted to assets acquired by inheritance and donation by individuals (physical persons) in class I (spouses, parents, children, grandchildren), save for gifts of real property.
New exemptions from land tax
As from the beginning of 2008, a municipality will have power to approve a regulation exempting arable land, hop-gardens, vineyards, orchards and permanent grassed areas from land tax.
Higher turnover threshold for obligation to keep accounts
Pursuant to amendments to the Act on accounting implemented upon adoption of the Act on stabilisation of public budgets, as from 1 January 2008 the existing threshold of 15 million CZK annual turnover (above which individuals have a duty to keep accounts) has been increased to 25 million CZK.
Other articles
Helena Navrátilová on Three Decades of the Advent Concerts of Good Will
KŠB partner Helena Navrátilová was recently interviewed on S dobrou vůlí, the podcast of the Committee of Good Will – Olga Havel Foundation. Speaking with editor Veronika Širc, Helena talked about the origins and history of the Advent Concerts of Good Will, which KŠB has been organizing for over thirty years.
KŠB advises LIPOELASTIC founders on the sale of LIPOELASTIC Group
KŠB, in collaboration with investment advisers from the Roklen Group, advised LIPOELASTIC Group founders Alena and Tomáš Hradil on their exit from the group, which they had built up over almost twenty-five years.
Chemistry Brings People Together: KŠB at the 2026 Evening of Czech Chemistry
Czech chemistry and the chemical industry are built on innovation, responsibility and the people who drive the field forward. On Thursday, 22 October 2026, leading figures from the field and industry representatives came together at the Grand Hotel International Prague for the Czech Chemical Industry Association’s annual Evening of Czech Chemistry.
