Competitiveness / Tax & Finance

This section feature research, opinion and progress reports on how the Czech Republic compares to other EU countries economically. It includes analysis of international rankings such as the WEF and World Bank.

Spotlight issue

1st March 2021 / Competitiveness / Tax & Finance


OECD on loss situation due to COVID

Lower levels of demand. Disruptions to supply chains. Increases in exceptional, nonrecurring operational costs. These are the key factors which have led to a loss situation faced by many companies of multinational groups during the COVID-19 pandemic, irrespective of whether they are a limited risk or a fully fledged entity. What is the OECD’s view regarding how entities should approach transfer pricing in light of these circumstances?
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19th February 2021 / Competitiveness / Tax & Finance


Mazars shares global market view on future direction of audit

Mazars, the international audit, tax and advisory firm, today releases the results of its survey of 500 audit users and decision makers from 12 countries in ‘The future of audit: market view - myths, realities and ways forward’. Data from 12 countries increases understanding of today’s audit market and helps dispel four ‘myths’ relating to audit’s objectives, appetite for joint audit and the role of auditors and technology Vast majority (93%) of audit users think audit needs to be reformed and 87% are favourable to joint audit Companies overwhelmingly welcome auditors expanding assurance services beyond financial reporting (96%); value a human-centric approach supported by technology to reinforce audit quality; and view boosting objectivity, confidence, and performance as primary audit goals
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5th February 2021 / Competitiveness / Tax & Finance


Deloitte CFO Survey 2021: CFOs more optimistic than at the start of the pandemic but cautious

After a year of living in the pandemic crisis, CFOs in the Czech Republic are cautiously optimistic in their outlook for the future. According to the 12th edition of the Deloitte CFO Survey 2021, 48% respondents are more optimistic about their company’s financial prospects, which is 38 percentage points more than in the spring of 2020 at the time of the first pandemic wave, and 17 percentage points more than before its outbreak. 
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3rd February 2021 / Competitiveness / Tax & Finance


Navigate Tax and Legal Measures in response to COVID-19

The ​COVID-19 pandemic continues to present significant challenges around the globe and the disruption continues to evolve. Now’s the time for organisations to rethink and reconfigure their strategies, focusing efforts on supporting key areas of their businesses in a new environment.  
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2nd February 2021 / Competitiveness / Tax & Finance


Committee: correction of tax base for bad debts – knowledge test

The Coordination Committee of the General Financial Directorate and the Chamber of Tax Advisors of the Czech Republic has finalised its discussion paper concerning the ‘knowledge test’, i.e. whether a creditor knew, should, or could have known at the time of a delivery of goods or provision of services that the supply would not be properly paid, and its implication for correcting the VAT base for irrecoverable debts.
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Members of the American Chamber of Commerce in the Czech Republic