VAT

From the beginning of 2015, a new rate of value added tax (VAT/DPH) of 10% comes into force. This rate will sell medicines, substitute food for children and infants, books and medicines for animals.

From April 2015, the reverse charge rule in domestic transactions will be extended to trade in the following goods, the value of which in a given transaction exceeds a total of CZK 100,000 (net):

- agricultural products and raw materials with the customs nomenclature code starting with 1005, 1201, 1205, 1206 00, 1207 50, 1207 91, 1209 10 00, 1212 91, except for sugar beet, where the reverse charge obligation will come into force only from 1.9.2015.

- metals mentioned in chapter 71 and class XV of the customs nomenclature

- mobile phones with the codes of the customs nomenclature 8517 12 22 and 8517 18 00

- integrated circuits and processors with code 8542 31,

- devices for automatic data processing with code 8471 30 00 (e.g. notebooks, tablets),

- video game consoles about the code of the customs nomenclature 9504.

The codes of the customs nomenclature, common for the entire EU, can be checked on the following pages: Customs here .

PIT

In 2015, the amount of tax relief for children will increase. For families with two children, the discount will increase by 200 kroner each month. For parents bringing up three or more, the allowance will increase by CZK 300 per month.

Also from this year there will be a new allowance for costs related to enrolling and attending a child to nurseries, kindergartens and other forms of childcare, i.e. kindergarten points, private centers, etc.

We remind you that the allowances are deducted directly from the tax due, not from the tax base.

Due to the new civil code, the concept of a person cooperating with an entrepreneur covers not only cooperating persons living in one household, but also other family members who participate in the economic activity of the family enterprise.

Another significant change concerns the lump sum tax costs for entrepreneurs using this form of income settlement. From the new year, a limit of 1,200,000 will be introduced for entrepreneurs using the 60% write-off.

CIT

The most important change is related to the new company code. From 2014, both newly established and existing companies are not required to create a reserve fund, and if such a fund has been established, it can be dissolved and a dividend paid from it. The dividend is subject to standard taxation.

The second significant change concerns the adjustment of income due to the company's defaults. The overdue liabilities of companies with maturities exceeding 30 months increase the company's tax base.

Labor law

There has also been a significant change in this matter. From the new year, the lowest penalty for hiring an employee illegally or for employing an employee under a contract other than provided for in the law is PLN 50,000. crowns (e.g. crypto-employment of a subcontractor).

The tariff for the lowest salary will also change. For individual professional groups, the minimum monthly wage will increase by an average of CZK 700.



photo: Pixabay - author:"jarmoluk"