The Treaty was published as No. 108 in the Collection of Laws. According to Article 5, a construction site, assembly or installation project or its supervision or the provision of services in the other state give rise to a permanent establishment if they last more than 6 months.
The Treaty states the maximum rates of withholding tax as follows:
- Dividends: 10% if they are paid to the beneficial owner, except that interest received by a government or central bank of the other state is exempt from tax in the state where the interest arises. Also interest on the loan approved by that government paid to a resident of the other state will be tax exempt in the first state up to any amount approved by the government
- Interest: 10% if paid to the beneficial owner
- Royalties: 10% if paid to the beneficial owner
List of foreign Stock Exchanges
The Collection of Laws published a list of foreign Stock Exchanges whose rates can be applied for valuation of publicly tradable domestic and foreign securities that are to be traded only on foreign stock exchanges.
Act on Universities
The Act on Universities was published as No. 111 in the Collection of Laws. The Act enables formation of private (non-state owned) universities based on a licence from the Ministry of Education. The Act also amended the Income Tax Act, which now refers to Public Universities, when dealing with taxation affairs.
Exemption from court fees
The Decree on exemption from Court fees was published as No. 117 in the Collection of Laws. All exemptions are related specifically to health insurance.
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
