Amendments-legislative process 2024/2025
As the end of 2024, several tax-related amendments were in the approval process, with implementation anticipated to commence from January 1, 2025. In the end, this timetable was met for certain amendments to the Income Tax Act and the VAT Act, which have already been published in the Collection of Laws. The amendment to the VAT Act introduces more significant changes, including adjustments in the taxation of online events in culture, arts, sports, education, and entertainment. It also addresses registration thresholds for VAT payers, particularly concerning the introduction of a cross-border regime for small businesses and revises the rules for correcting the tax base or adjusting tax deductions.
Other forthcoming amendments in taxation, including the tax regime for crypto-asset taxation, adjustments to depreciation rules for photovoltaic power plants, and limits on donation deductions, remain under review in the Senate of the Czech Republic, with their effectiveness still pending approval.