The amendment to the Income Tax Act was published in the Collection of Laws under No. 210/1997. The amendment is generally effective from 1 January 1998. Please refer to our June and July News for more detailed information.
Apart from the above, the Act on Foundations and Foundation Funds No. 227/1997 (see also below) includes a new amendment to the Income Tax Act. Foundation income arising from leasing of real estate, artistic works, authors and patent rights, interest and dividend income and interest from financial facilities are exempt from corporate income tax provided that the relevant assets are included in the foundation property and are registered in the Register of Foundations. The amendment is effective from 1 January 1998.
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 richard.g.fletcher@arthurandersen.com
You may also wish to read through related material on the Czech Republic provided by Arthur Andersen. You can view the entire archive via the Internet on Business Monitor Online (http://www.businessmonitor.co.uk), or via your online provider by entering "Arthur Andersen" and "Business Monitor" as a free text search.
See More Popular Content From