I.    Control report

From 1. 1. 2016 Czech VAT payers must file monthly report in which provide tax authorities with details of individual taxable supplies provided and received on the territory of Czech Republic. Monthly report must be filed till 25th day of the following month.


II.    Exempt income reporting 

Starting from the taxable period of 2015, natural persons must report to tax authorities its exempt income that exceeds yearly amount of 5 mi. CZK (e.g. exempt income from sales of shares etc.). Not disclosing of such income is subject to penalty in amount of 0,1%, 10% or 15% of income.


III.    Real estate transfer tax

Starting from April 1st 2016, taxpayer should be purchaser instead of the seller, but final decision was postponed again by parliament.


VI.    Changes in the accounting law

After many years, there are several changes in the Czech accounting law. Starting from January 1st, changes in the accounting reporting obligations occur for different size of companies, there are changes in the accounting of incorporation costs, gifts, WIP, semi-finished goods and FG and changes in the statutory format of balance sheets and P&L statement.


V.    Electronic evidence of sales

The Czech government and senate agreed incorporation of electronic evidence of sales for entrepreneurs that receives cash incomes. Starting from November 1st, at the first stage, all individual sales must report segment of meal and accommodation services (hotels, restaurants, etc.). In the second stage, in the three months’ time, retail and wholesale segment follows and in one year time all other businessman’s with except of craftsman’s, who will have 3 months more time for praparation.