Czech Republic

International agreements

In 2014, the United States and the Czech Republic signed an intergovernmental agreement (IGA) implementing the tax reporting and withholding procedures associated with the Foreign Account Tax Compliance Act (FATCA). The deadline for the annual reporting is 30 June for the preceding calendar year.

The Common Reporting Standard (CRS), whereby financial institutions report certain information on the accounts they keep, was implemented into Czech legislation in 2017. The deadline for the annual reporting is 30 June for the preceding calendar year.

The Czech Republic has an effective bilateral TIEA with the following countries: Andorra, Aruba, Bahamas, Belize, Bermuda, British Virgin Islands, Cayman Islands, Cook Islands, Guernsey, Isle of Man, Jersey, Monaco, and San Marino.

The Czech Republic is also a party to the multilateral OECD Convention on Mutual Administrative Assistance in Tax Matters.

In 2020, the Czech Republic ratified the Multilateral Instrument whereby it implemented into its DTTs a principal purpose test provision, a new wording of preamble, and a Mutual Agreement Procedure.