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Taxation in the Czech Republic

  • Incorporation time: 20 days
  • Shelf companies: Yes
  • Accounting: Yes
  • Secretary: Yes
  • Nominee Shareholder: Yes
  • Nominee director: Yes
Tax 19%
1 CZK = 0.03 €

Czech Tax Rates

In the Czech Republic corporate income tax and capital gains tax are levied at 19%. Investment revenue and pension funds are taxed at 5%.

It is possible to deduct the following for tax purposes: depreciation of assets; materials and services purchased; wages; health insurance and social security contributions; donations; and, R & D expenses.

VAT is 21% with a 15% concession for books and food and health products.

Individual income tax is charged at 15%, and pension contributions, disability allowance, mortgage interest, life insurance and business gifts are all tax-deductible.

Links:
Tax Guide

Accounting Requirements in the Czech Republic

National Accounting Standards govern the preparation of accounts by Czech companies and are administrated by the Ministry of Finance who impose International Financial Reporting Standards.

The fiscal year must be different from the calendar year and Czech companies are therefore free to choose their fiscal year which can be any other 12 month period.

Companies’ financial statements must be prepared in Czech and accounted for in CZK. All financial statements must include a balance sheet, a statement of profit and loss, as well as notes and must be audited.

Links:
Ministry of Finance
Chamber of Certified Accountants

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