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Czech Republic: International tax information exchange extended

International tax information exchange extended

The Czech Republic government approved another amendment to the Act on International Cooperation in Tax Administration to introduce a new duty to share information about financial results, performed activities, staff numbers, and many other indicators. The new amendment aims to introduce the automatic exchange of information by countries (country-by-country reporting). It also introduces new duties for multinational groups of companies with a consolidated turnover exceeding €750 million.

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Read a January 2017 report [PDF 277 KB] prepared by the KPMG member firm in the Czech Republic

 

Other topics included in the report include the following:

  • Amendments to tax laws at third reading
  • General Financial Directorate clarifies value added tax (VAT) regime upon resale of telecommunication services
  • Claiming refunds of excess VAT deduction refunds
  • Correct treatment of research and development
  • Discussions regarding a new Income Tax Act

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