The electronic reporting of sales was originally scheduled to be effective beginning in 2016. The effective date, however, was postponed to February 2016, and then again postponed to April 2016. The electronic reporting of sales has now been postponed indefinitely.
Restaurants and hotels were to have been the first entities to comply with the electronic reporting requirements.
The Supreme Administrative Court issued a decision that was expected to resolve a disagreement between the seventh and ninth panel of judges, relating to the application of a “magic” provision in section 24(2)(zc) of the income tax law, allowing for the reclassification of expenses from non-deductible to deductible.
The extended panel of judges, however, did not give a clear answer to whether it is possible to apply the “magic” measure for the re-classification of expenses or revenues when the subject amounts represent an item included in the calculation of a fee for provided services.
Read an October 2015 report [PDF 1.5 MB] prepared by the KPMG member firm in the Czech Republic
Other topics discussed in the KPMG report include:
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