An overview by LeitnerLeitner, Taxand Czech Republic
The Czech Financial Administration has announced that in 2023 it conducted 10,656 tax audits, resulting in increased tax liabilities of CZK 10.78 billion and a reduction in claimed losses of CZK 1.97 billion, confirming that audits continue to play a crucial role in ensuring accurate tax collection and identifying irregularities.
Key areas of focus included VAT, corporate income tax, and personal income tax. Notable results include:
- A CZK 8.57 billion rise in VAT liabilities and CZK 1.49 billion in corporate income tax.
- International cooperation leading to two joint transfer pricing inspections with the Federal Republic of Germany.
- The initiation of eight new MAP procedures.
- The issuing of a total of 131 binding assessments, of which 17 were sent abroad as part of the automatic exchange of information.
- Windfall tax collections totalling CZK 39.1 billion, representing 46% of the forecast due to reduced company profitability.
Experts from our Czech member firm LeitnerLeitner have provided a more detailed overview of the figures which you can read here.