News
Czech Republic: Limits for Cash Payments
The limit for cash payments will be decreased from the current CZK 350 000 to the new limit in the amount of CZK 270 000. Any payments exceeding this limit must be carried out in the form of cashless tranfers via bank accounts. This decrease of the limit complies with the EU directive.
Czech Republic: Change of the payer of property transfer tax
From 1 November 2016 it will be a purchaser who shall pay the immovable property transfer tax. This also shall mean that escrow accounts will no more be needed for securing the payment of this tax.
Czech Republic: Act on Retail and Wholesale Opening Hours
From 1 October 2016 wholesale and retail stores with a sales area exceeding 200 m2 shall be closed during certain days of Czech state holidays.
Czech Republic: Proof of origin of property
On 18 March 2016 Constitutional and Legal Committee of the House of Commons recommended introduction of proving the origin of property.
Czech Republic: Act concerning the origin of assets
The government approved a bill concerning the origin of property. Financial authorities should be able to analyze the amount of assets in connection with the tax return.
Czech Republic: Introduction of Kurzarbeit
So called Kurzarbeit will from October 2015 come into force by amendment to the Employment Act, which was signed by President Zeman earlier.
Czech Republic: replacing custody with electronic bracelets
Proposal of the Ministry of Justice, according to which it should be possible in certain cases to replace custody by using electronic bracelets, was approved by the government in May 25, 2015.
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Slovakia: Minor Offences Act Ammendment
A new amendment to the Minor Offences Act entered into effect as of January 1, 2015.
Slovakia: New Employers Obligations in Healthcare Area
As of January 1, 2015, all employers must provide occupational health services to their employees and that regardles on the risk categorisation of the work the employees are executing.
Slovakia: New Act on Whistleblowing
As of January 1, 2015 the new Act No. 307/2014 Coll. on Certain Measures Related to Reporting of Wrongdoing and on Amendment and Supplements to Certain Acts will be effective.
News
New software for law firms
Peter Compel, CAG member for the Czech Republic, developed together with Kamar sofware a new application for law firms in CZ and SK. This program helps law firms with time-sheets, monthly billing and invoicing. Once ENG version is prepared, the interested CAG members will evaluate the possible use of this program in other CAG member countries.
This application is the first commercial project within the CAG network.
You can find the CZ and SK version of this sofware here:
Different approach of states to real estate transfer tax? YES.
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Publications
Tax on transfer of immovable property in CZ, SK, BG, SWE, TR
Is there any tax on transfer (or acquiring) of ownership of immovable property (land, buildings, flats) from a seller to buyer?