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
Richard Schmidt Joins KŠB, Strengthening Its Corporate Criminal Liability and Compliance Practice
KŠB expanded its team at the beginning of August with the arrival of attorney Richard Schmidt, who has extensive experience in criminal law, including corporate criminal liability and related compliance matters.
Active counter-drone measures need a broader legal basis
A highly noteworthy legislative proposal was added to the VeKLEP interministerial consultation database on 21 July 2026, namely a government bill amending several laws with the aim of strengthening the resilience of critical infrastructure entities against unmanned aircraft systems. Drafted by the Ministry of the Interior, the bill includes proposed amendments to the Civil Aviation Act and the Act on the Czech Police.
Tomáš Sequens and Dana Jacková Discuss the Risks of the Proposed Amendment to the Building Act
KŠB partner Tomáš Sequens and counsel Dana Jacková recently spoke to specialist news platforms Česká justice and Ekonomický deník about the proposed amendment to the Building Act, which aims to accelerate and simplify the construction permitting process.
