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ΠΡΟΦΙΛ ΣΥΝΑΛΛΑΣΣΟΜΕΝΩΝ ΧΩΡΩΝ
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Taxes - Accounting
Tax rates |
Accounting rules
Tax rates
Consumption taxes
- Nature of the tax
-
Value added tax (VAT)
- Tax rate
- 19%
- Reduced tax rate
- 9% (food, books, special healthcare products)
- Other consumption taxes
- Excise taxes are also perceived (on tobaccos, oil productions, beer, wines and liqueurs), applied according to the type and the quantities of products. They are payable under 10 days after announcement of Customs.
Energy tax on supplies of electricity, natural and other gases, and solid fuels with effect from 1 January 2008. More detailed information on excise duties is available on the European Commission website.
Corporate taxes
Tax rate
| Corporate tax for tax periods starting in 2009 and |
20% |
| Corporate tax for tax periods starting in 2010 and afterwards |
19% |
| Income from investment and pension funds |
Reduced rate of 5% |
- Tax rate for foreign companies
- All Czech tax residents are subject to these taxes on their worldwide income and capital gains, while Czech tax nonresidents are taxed only on their income from Czech sources.
The tax residency of a legal entity is its seat or place of effective management in the Czech Republic.
- Capital gains taxation
- Capital gains are taxed at the normal corporate income tax rate.
- Main allowable deductions and tax credit
- Tax deductible costs. Similar to that in other countries (if incurred in order to generate, assure and maintain the taxable income - tax depreciation on assets, purchased material and services, wages, salaries and social security and health contributions).
Tax deductible items: charitable donations, research and development costs allowance, acumulated tax losses carried forward from previous year, tax relief.
- Other corporate taxes
- withholding taxes
value added tax
real property tax
real estate tax
Individual taxes
Tax rate
- Allowable deductions and tax credit
- Employee's contribution to an old-age pension, a taxpayer's annual exemption, exemptions for non-working wife, disability allowance, high school / university students, contributions to the public benefit, to 10% of the tax, interest on mortgages , ...
- Special expatriate tax regime
- Taxable income includes earnings from dependent activities including benefits in-kind (e.g. housing
allowances, use of a company car for private purposes, etc.), income from business activities, and income from capital, leasing and other sources. For more information please check the tax report of Czech Invest.
Double taxation treaties
- Countries with whom a double taxation treaty have been signed
- List of Treaties on Income and on Capital
- Withholding taxes
- Dividends: 0/15%, Interest: 0/15%, Royalties: 15%
- Bilateral agreement
-
 We can indicate you which local taxes are applied to your product.
Accounting rules
- Tax year
- The Amendment to Law on Accountancy allows taxpayers to keep accounts in another fiscal period than the calendar year. The fiscal tax year must have 12 consecutive months.
- Accounting standards
- The Czech accounting system is based on double-entry bookkeeping and is largely consistent with the systems of other European countries with certain minor difference regarding, for example, financial leasing or depreciation of fixed assets. Czech accounting rules are determined by the Ministry of Finance. They come from the National Accounting Standards. Czech Republic tries to get accounting rules in accordance with IAS, IFRS.
- Accounting regulation bodies
-
Ministry of Finance
- Accounting reports
- Companies have to establish a balance sheet, a profit and loss account and annexes. Those accounts must be published in Czech, in CZK. More, companies obliged to have an audit must prepare the statement of cash flows and the statement of changes in equity. Corporations limited and societes listed on Stock Exchange have to the management report.
- Publication requirements
- The balance sheet and the profit and loss account must be prepared in accordance with the model which is on your disposal in the annexe of the Act. on Accounting.
Tax payers must file tax returns within three months following the end of the tax period. Czech legal entities that are required to prepare audited financial statements must file their tax returns within six months following the end of the taxable period.
- Professional accountancy bodies
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Union of Accountants
Chamber of Certified Accountants
- Certification and auditing
- Chamber of Auditors of the Czech Republic
- Accounting news
-
Union of Accountants (in Czech)
Ministry of Interior, coll. of codes (in Czech)
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