Income Tax01/03/08 / cata_tax-news

The Ministry of Finance of the Czech Republic published Guideline No. D – 317 on average prices of fuel for calculating the amount of compensation for expenses in consumed fuel to determine income tax bases for the 2007 taxation period. Taxpayers can use these prices to determine tax expenses for consumed fuel, unless they apply expenses in documented amounts.

In addition, the Ministry of Finance issued Guideline No. D – 318 “Determination of uniform rates for the 2007 taxation period pursuant to Section 38 of Act No. 586/1992, Coll., on Income Taxes, as amended”. These rates shall be used by taxpayers who keep tax records for conversion of foreign currencies.