The following instructions were published in Financni zpravodaj No. 5/1998.

Decree D - 160

Decree D-160 deals with the application of VAT in the non-profit sector and in the health service, education, and cultural sectors. The decree also deals with the application of VAT by municipalities.

The decree is effective as of 1 January 1998 and replaces decree D-111.

Decree D - 161

Decree D-161 deals with the application of VAT to accommodation services and catering provided for the recreation needs of children.

The decree is effective as of 1 January 1998 and replaces decree D-101.

Decree D - 162

Decree D-162 deals with the application of VAT to accommodation not open to the public (e.g. on-site accommodation for employees).

The decree is effective as of 1 January 1998 and replaces decree D-102.

Decree D - 167

Decree D-167 deals with VAT de-registration, in particular with the conditions for VAT de-registration and VAT liability arising upon de-registration. It also deals with the reconciliation of the VAT reclaim for the last period of the calendar year and its correction.

The decree is effective as of 1 January 1998 and replaces decree D-139.

Decree D-178 on application of VAT on financial services

Decree D-178 replaces decree D-130. The new decree confirms that sale of securities by a company which does not have a license to trade in securities has no impact on the input VAT recovery entitlement of this company. The decree further stipulates that derivative transactions which are concluded for currency hedging purposes are not considered to be taxable supplies under the VAT Act.

Instruction on the application of the Double Taxation Treaty between the Czech Republic and Belarus

The instruction deals with the practical application of the reduced withholding tax rates or tax exemption applied on dividend, interest and royalty payments in accordance with the Treaty.

Instruction on the application of the Double Taxation Treaty between the Czech Republic and Ireland

The instruction deals with the practical application of the reduced withholding tax rates or tax exemption applied on dividend, interest and royalty payments in accordance with the Treaty.

Based on Irish domestic legislation, dividends paid out from Ireland to the Czech Republic are not subject to taxation in Ireland.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information on the above, please contact Mr Richard Fletcher by telephone on +420 2 2440 1300 or E-mail directly to Click Contact Link