What is Act No. 462 / 2023 Coll.?

Act No. 462 / 2023 Coll., amending certain laws relating to the development of the financial market and the promotion of old age reinsurance — Law amending certain laws in connection with the development of the financial market and the promotion of old age reinsurance.

When it became Act No. 462 / 2023 Coll. effectiveness?

Act No. 462 / 2023 Coll. became effective 01.01.2024.

Is Act No. 462 / 2023 Coll. still valid?

Yes, Act No. 462 / 2023 Coll. is still valid and effective.

How many times was it Act No. 462 / 2023 Coll. amended?

Act No. 462 / 2023 Coll. has 6 time versions of the text.

Act No. 462 / 2023 Coll. - Law amending certain laws in connection...

462

THE LAW

of 22 December 2023

amending certain laws relating to the development of the financial market and the promotion of old-age reinsurance

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

Amendment of the Income Tax Act

Čl. I

Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 2004, Act No. 5 / 1999, Act No. 5 / 2004, Act No. 5 / 1999, Act No. 5 / 2004, Act No. 5, Act No. 6 / 1999, Act No. 5, Act No. 5, Act No. 96, Act No. 5 / 1999, Act No. 96, Act No. 5, Act No. 96, Act No. 5, Act No. 5 / 2004, Act No. 5, Act No. 2004, Act No. 2004, Act No. 6, Act No. 2004, Act No. 2004, Act No. 1999, Act No. 2004, Act No. 2004, Act No. 5, Act No. 2004, Act No. 2004, No.

1. in Article 4 (1) (k):

'(k) income in the form of:

1. survivor's pension for which the period of collection is defined for at least 10 years or which is paid for life or other pension as benefits from supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution;

2. an old-age pension for which a minimum period of 10 years is defined or which is paid for life, invalidity pension or one-off pension insurance as benefits from supplementary pension savings under the Act governing supplementary pension savings,

3. pension benefits, except for one-off benefits, benefits, repayments or pensions for which a period of less than 10 years is defined and is not an invalidity pension;

4. insurance benefits from the insurance of persons, except for one-off benefits and pensions, for which a period of less than 10 years is defined, paid from life insurance, from life insurance, from life insurance with a specified age or previous death or from pension insurance, ';

2. in Article 6 (9) (m):

"(m) income in the form of a contribution paid by the employer to the tax-backed products of saving on the age of his employee or on the tax-backed long-term care insurance, the policyholder of which is his employee, up to a total amount of CZK 50,000 per year,"

Article 6 (14) reads as follows:

"(14) The income of an employee referred to in paragraph 3, third sentence, in the case of the acquisition of a holding in a commercial corporation which is an employer in respect of which he carries out an activity from which he receives income pursuant to paragraph 1 (a) to (c), or the acquisition of a holding in a commercial corporation which is a parent or subsidiary or a related capital person of that employer, or an option to acquire that holding shall be deemed to have been accounted for in the calendar month or the tax period in which the first of the periods in which the acquisition takes place are:

(a) the moment at which the staff member ceases to engage in the activity on which the income referred to in paragraph 1 (a) to (c) is generated with that employer, his parent or subsidiary, or a related capital or his successor in title;

(b) the moment of the employer's entry into liquidation;

(c) the moment when the employer or employee ceases to be tax residents of the Czech Republic;

(d) the time at which the share or option is transferred or transferred;

(e) the time at which the option is exercised;

(f) the moment of exchange of the share at which the total nominal value of the employee's shares is changed;

(g) the period of 10 years from the date of acquisition of the holding or option. ';

4. In Article 6, paragraphs 15 and 16 are added:

"(15) The income referred to in paragraph 14 may be reduced by a positive difference between the value of the share in a commercial corporation which is the employer from which the taxpayer carries out the activity from which the income is generated in accordance with paragraph 1 (a) to (c), the share in the commercial corporation which is the parent or subsidiary or the capital associated with that employer, or the value of the option to acquire that share determined under the law governing the valuation of the assets at the time of the acquisition of that share or option and the value of that share or option determined in accordance with the law governing the valuation of the assets at the first of the periods referred to in paragraph 14 (a) to (g), plus the sum of the income tax on the profit, the loss of the assets, the repayment of the excess of the premium and the value of that share or of the option, and the equivalent of those payments paid on the basis on the basis of the tax deducted on that income.

(16) The taxpayer shall notify the tax payer of the moment referred to in paragraph 14 (d) by the last day of the calendar month in which that moment occurred. ';

5. in Article 8 (1) (e) and (f):

"(e) performance from supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution, from supplementary pension savings under the Act governing supplementary pension savings and from pension insurance,

(f) benefits from life insurance, life insurance for a specified age or previous death and pension insurance and other insurance benefits for non-insured persons; ';

6. Paragraph 8 (6) reads as follows:

"(6) The provision of supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution, from supplementary pension savings under the Act governing supplementary pension savings and from pension insurance constitute the basis of the tax following a reduction in the contributions paid and State contributions paid by the Czech Republic, if these contributions have not been repaid; in the case of such benefits in the form of pensions, the contributions paid and the State contributions shall be broken down into the defined period of retirement. The performance of life insurance, life insurance with a fixed age or earlier death and pension insurance and other insurance of non-insured persons shall be the basis for the tax on the reduction of premiums paid; in the case of such benefits in the form of pensions, the premiums paid shall be distributed over the defined period of retirement. ';

7. Paragraph 8 (7) is deleted.

Paragraphs 8 and 9 shall be renumbered paragraphs 7 and 8.

8. In the last sentence of Paragraph 8 (8), "paragraphs 6 and 7 'are replaced by" paragraphs 6'.

9. Paragraph 15 (5) and (6) read:

"(5) The tax base can be deducted from the contributions in the total amount of up to CZK 48,000 paid by the taxpayer in the tax period for its tax-supported old-age savings products and long-term care insurance, which he is the policyholder of. The contribution to the old-age savings product shall also include insurance premiums for private life insurance and assets credited to the long-term investment product. The contribution to long-term care insurance shall be understood as premiums for such insurance.

(6) In the case of contributions to supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution and supplementary pension savings under the Act governing supplementary pension savings, only part of the monthly contribution in accordance with paragraph 5 may be deducted from the tax base, which exceeds the amount from which the highest national contribution falls under the Act governing supplementary pension insurance with a State contribution or the Act governing supplementary pension savings. In the case of the payment of one-off insurance premiums for private life insurance, for the purposes of paragraph 5, the contribution paid in the tax period of the insurance period shall be considered to be the proportion of one-off insurance premiums for that tax period determined to date. ';

10. After Paragraph 15, the following Sections 15a to 15c are inserted:

„§ 15a

Old age saving product

(1) For the purposes of income taxes, the product of the old-age saving is:

(a) supplementary pension schemes with a State contribution under the Act governing supplementary pension schemes with a State contribution;

(b) supplementary pension savings under the Act governing supplementary pension savings;

(c) pension insurance for a pension institution;

(d) private life insurance;

(e) a long-term investment product.

(2) For the purposes of income tax, a pension insurance institution means a provider of financial services authorised to operate pension insurance that is:

(a) operated on the principle of fund management;

(b) set up for the purpose of providing pension benefits outside the compulsory pension scheme (136) on the basis of a contract or otherwise agreed participation in pension insurance and carries on the activity resulting therefrom; and

(c) authorised and operated pension insurance in a Member State of the European Union or a State forming the European Economic Area and subject to supervision by a competent authority in that State.

(3) Private life insurance for the purposes of income taxes shall mean life insurance, life insurance with a fixed age or previous death and pension insurance, which shall not be entitled to the first calendar year in which the debtor reaches 60 years of age, negotiated with an insurance undertaking authorised to pursue an insurance activity in the territory of a Member State of the European Union or of a Member State forming a European Economic Area in which the life insurance amount, if agreed, is at least equal to:

(a) 40 000 CZK if the insurance period is not less than 10 years and not more than 20 years; or

b) CZK 70,000 if the insurance period is more than 20 years.

(4) For the purposes of income taxes, an amount corresponding to a one-off life benefit shall be considered as an insurance amount in the event of a retirement pension.

(5) For income tax purposes, a long-term investment product is defined as a long-term investment product under the Capital Market Act and a similar product provided by a foreign person authorised to provide such a product in a Member State of the European Union or a State forming the European Economic Area.

§ 15b

Tax aid for the old-age savings product

(1) The old-age savings product shall be taxed if it is agreed or otherwise determined that the payment of funds or transactions from that product or the depreciation of assets from a long-term investment product is in favour of:

(a) the taxpayer who negotiated the product, and only:

1. 120 calendar months after the product has been established, but not earlier than the calendar year in which the taxpayer reaches 60 years of age and, in the case of transactions from supplementary pension savings, to which, under the law governing supplementary pension savings, the entitlement arises by reaching 5 years of age below his retirement age under the law governing pension insurance, not earlier than 5 years of age under the law governing pension insurance,

2. in the event of third-degree invalidity; or

3. in connection with the disappearance of the old-age saving product; or

(b) another taxpayer, only in the case of:

1. the death of the taxpayer who negotiated the product,

2. Repayment by the provider of the product for its management or related services;

3. the depreciation of assets from a long-term investment product for consideration granted to that product, unless it is a write-off for consideration, the normal price of which is significantly lower than the normal price of the depreciated property; or

4. compliance with obligations laid down by other legislation.

(2) For the purposes of the exemption of the employee's income in the form of a contribution paid by the employer to the employee's old-age savings product, this product shall not be taxed if it is agreed or otherwise determined that, in the event of the death of the employee, the payment of funds or benefits from that product or the depreciation of assets from a long-term investment product is to the benefit of that employer.

(3) The staff member shall notify his employer that his old-age savings product has ceased to be taxed or that there has been a fact that results in the recovery of the old-age savings product's tax support until the end of the calendar month in which it occurred.

(4) Recovery of the tax aid for the old-age savings product shall take place if, before the expiry of 120 calendar months after its establishment or before the calendar year in which the taxpayer reaches 60 years of age,

(a) there is a payment of funds or transactions from such a product or a write-off of assets from a long-term investment product for the benefit of the payer who negotiated the product, unless

1. the payment, performance or write-off of a third-degree taxpayer's invalidity;

2. the payment, performance or write-off due to the disappearance of the provider of the product or the withdrawal of the authorisation to provide the product to the provider, provided that the funds and assets received are transferred within 1 month of their receipt to the taxpayer's tax-backed savings product of the same type or, in the case of supplementary pension insurance, to a State contribution under the Act governing the supplementary pension savings; or

3. the performance of supplementary pension savings under the Act governing supplementary pension savings, to which a claim has been made by reaching the age of 5 years below the taxpayer's retirement age under the law governing pension insurance,

(b) the funds or transactions from that product have been paid, or the assets or assets of the long-term investment product of the taxpayer have been debited, for the benefit of a taxpayer other than the person who negotiated the product, unless

1. payment, performance or write-off after the death of the debtor;

2. the payment to the provider of the product for its management or related services; or

3. write-off of assets from a long-term investment product for consideration granted to that product, unless it is a write-off for consideration whose normal price is significantly lower than the normal price of the depreciated property;

(c) the product ceases to exist without the payment of the funds or the performance thereof or the debiting of the property from the long-term investment product of the taxpayer, unless the product is terminated

1. because of the death of the taxpayer,

2. because of the disappearance of the provider of the product or the withdrawal of the authorisation to provide the product to the provider; or

3. With the simultaneous write-off of all the savings and assets on the taxpayer's tax-backed product of saving for an old age of the same type or in the case of supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution to its tax-backed supplementary pension savings under the Act governing supplementary pension savings; or

(d) the proceeds of the assets are paid in the framework of a long-term investment product outside that product.

(5) Recovery of the tax aid for the old-age saving product means:

(a) the creation of an income pursuant to Article 10, in the amount of the total of the taxpayer's contributions deducted from the tax base for the preceding 10 tax years, paid for that product or for the product of saving for the same age from which all the funds and assets saved were transferred to that product; and

(b) the creation of an income pursuant to Article 6 in the amount of the total of the contributions paid by the employer to the product or to the product of saving for an old age of the same type from which all the money and assets saved were transferred to that product, which was exempt from tax during the tax period in which the tax aid for the product of saving for old age was recovered and in the immediately preceding 10 tax periods; that income is not considered to be paid by the payer of the income tax on dependent activities.

(6) If there is a fact that results in recovery of the tax aid for the old-age savings product,

(a) the product ceases to be tax-supported by:

1. the tax period in which that fact occurred, for the purposes of deducting non-taxable parts of the tax base; and

2. The calendar month following the calendar month in which that event occurred, for the purposes of the exemption of the employee's income in the form of a contribution paid by the employer to its tax-backed product of saving for old age; and

(b) the performance of that product shall not be reduced by the employer's contributions to that product for the purposes of determining the taxable amount, except:

1. Contributions in respect of which the income referred to in paragraph 5 (b) has been generated;

2. contributions not exempt from natural persons's income tax,

3. contributions paid by the employer before 1 January 2000 to supplementary pension schemes with a State contribution under the Act governing supplementary pension schemes with a State contribution; and

4. contributions paid by the employer before 1 January 2001 to private life insurance.

§ 15c

Long-term care insurance

(1) Long-term care insurance for income tax purposes means insurance whose insurance event is the dependency of the policyholder or his close to the assistance of another natural person in the management of basic living needs due to their long-term unfavourable health status, agreed with an insurance undertaking authorised to pursue an insurance activity in the territory of a Member State of the European Union or of a State forming the European Economic Area.

(2) Long-term care insurance is tax-backed to the extent that:

(a) the right to claims arising from an insurance claim arises to the insured;

(b) applies to dependencies corresponding to the degree of dependence III or IV under the Social Services Act; and

(c)

1. repayable insurance with a renegotiated monthly insurance provision provided throughout the period of dependency of the insured corresponding to the degree of dependency III or IV under the law governing social services; or

2. Damage insurance with agreed insurance performance in the form of provision of care for the insured throughout the period of dependency of the insured corresponding to the degree of dependency III or IV under the Act governing social services or reimbursement of the costs of such care.

(3) Long-term care insurance is not taxed if the insurer

(a) it may terminate the insurance contract later than 2 months after the date of its conclusion or it may terminate it following notification of the occurrence of the insurance event; or

(b) has the right to change the amount of the premiums depending on the age or state of health of the insured. ';

11. in Article 34c, the following paragraph 5 is added:

"(5) In case of doubt by the tax administrator, the content of the project documentation referred to in paragraph 1 may be demonstrated by further evidence. ';

12. in Article 36 (2) (k):

"(k) from the provision of supplementary pension insurance with a State contribution under the Act governing supplementary pension insurance with a State contribution, supplementary pension savings under the Act governing supplementary pension savings, pension insurance, life insurance, life insurance, life insurance with a fixed age or earlier death and pension insurance, and from other insurance of non-insured persons,"

13. in Paragraph 36 (2), point (o) is deleted;

Points (p) and (r) shall be renumbered as points (o) and (p).

14. in Paragraph 38g (5):

"(5) The tax return must be lodged by the taxpayer who, in the context of the recovery of the tax support of the old-age savings product, has received income pursuant to § 6. '

15. in Paragraph 38j (2) (f), at the end of point 7, the dot is replaced by a comma and the following point 8 is added:

"8. The amount referred to in the third sentence of Article 6 (3) shall be the acquisition of a holding in a commercial corporation which is an employer in respect of which the taxpayer carries out the activity from which the income is generated pursuant to Article 6 (1) (a) to (c), or in a commercial corporation which is a parent or subsidiary or a capital-related person of that employer, or an option for the acquisition of that holding, and the date on which that holding or option is acquired."

16. in Article 38k (5) (f):

"(f) the amount to which it deducts from the taxable amount the contributions paid to its tax-backed product of the old-age savings and the long-term care insurance which it is a policy holder."

17. in Paragraph 38k (5), point (g) is deleted;

Point (h) shall be renumbered as point (g).

18. in Paragraph 38l (1), the dot is replaced by a comma at the end of paragraph 1 and the following points (j) and (k) are added:

"(j) a long-term investment product contract and an annual confirmation by the person providing it of the assets attributed by the taxpayer to that product during the previous tax year;

(k) a long-term care insurance contract or insurance policy contract and an annual confirmation by the insurer of the insurance premium paid by the policyholder for the long-term care insurance of which he is the policyholder, during the previous tax period or of the proportional part of the one-off premiums paid for the previous tax period. "

19. In footnote 136, "as amended by Regulation No 988 / 2009 of the European Parliament and of the Council 'is replaced by" as amended'.

Čl. II

Transitional provisions

1. For taxes on income taxes for the tax period started before the date of entry into force of this Act and for the rights and obligations related thereto, Act No. 586 / 1992 Coll., as effective before the date of entry into force of this Act, shall apply.

2. For the payment of the funds of the pension savings participant at the end of the pension savings pursuant to Act No. 376 / 2015 Coll., on the termination of pension savings, as amended by Act No. 183 / 2017 Coll., Paragraph 4 (1) of Act No. 586 / 1992 Coll., as effective before the date of entry into force of this Act, shall apply.

3. On the supplementary pension insurance with a State contribution pursuant to Act No. 42 / 1994 Coll., on the supplementary pension insurance with a State contribution and on changes to certain laws related to its implementation, as amended, supplementary pension savings pursuant to Act No. 427 / 2011 Coll., on supplementary pension savings, as amended, pension insurance and private life insurance arising before the date of entry into force of this Act

(a) apply paragraphs 6 (9), 6 (14), 8 (1) (e) and (f), 8 (6), (7) and (9), 15 (5) and (6), with the exception of the maximum amounts which can be deducted from the tax base, Article 36 (2) (k) and (o) and Article 38k (5) (f) and (g) of Act No 586 / 1992 Coll., as effective before the date of entry into force of the Act; and

(b) they shall not apply § 8 (8), § 15a and 15b of Act No. 586 / 1992 Coll., as effective from the date of entry into force of the Act.

4. For employer's contributions to private life insurance paid before 1 January 2015:

(a) apply § 6 (9) (p), § 8 (7) and § 15 (6) of Act No. 586 / 1992 Coll., as effective before 1 January 2015, and

(b) Articles 8 (6) and 15b (5) (b) of Act No. 586 / 1992 Coll., as effective from the date of entry into force of this Act.

5. The maximum amount which may be exempt pursuant to Article 6 (9) of Act No. 586 / 1992 Coll., as effective from the date of entry into force of this Act, shall be reduced by the sum of the amounts which are exempt under Article 6 (9) of the Act No. 586 / 1992 Coll., as effective before the date of entry into force of the Act.

6. The maximum amount that can be deducted for the tax period concerned from the tax base pursuant to Article 15 (5) of Act No. 586 / 1992 Coll., as effective from the date of entry into force of the Act, shall also apply to contributions and premiums under Article 15 (5) and (6) of the Act No. 586 / 1992 Coll., as effective before the date of entry into force of the Act.

7. For tax proceedings initiated before the date of entry into force of this Act, the provisions of Section 34c (5) of Act No. 586 / 1992 Coll., as effective from the date of entry into force of this Act, shall not apply.

ČÁST DRUHÁ

Amendment of the Act on the Czech National Bank

Čl. III

Act No. 5 / 2009 Coll.

1. in Article 43f (1), the following point (f) is inserted after point (e):

"(f) for the purpose of publishing averages of borrowing rates under the Consumer Credit Act,"

Points (f) to (h) shall be renumbered as points (g) to (i).

2. in Article 43f (1) (h), the text "f)" is replaced by "g)";

3. In Paragraph 46e (3), the words "or sets the upper limit of the fine by multiplying the amount of undue benefit or by the annual turnover achieved 'are inserted after the text" CZK'.

ČÁST TŘETÍ

Amendment to the Pension Insurance Act with a State contribution

Čl. IV

Act No. 20 / 2013 Coll.

1. In the first sentence of Paragraph 2 (1), the words "permanent residence in the Czech Republic 'are deleted.

2. Paragraph 2 (2) and (3), including footnote 1ab, are deleted and paragraph 1 is deleted.

3. in Article 19 (1), points (f) and (g) are deleted;

Point (h) shall be renumbered as point (f).

4. In Article 21, at the end of paragraph 5, the sentence "If both the participant and the person designated in the contract at the same time or in circumstances preventing the finding of the first person who died from being killed, it shall be considered, for the purposes of assessing the entitlement to the survivor's pension, that the participant has survived that person and the amount calculated in accordance with Article 23 (3) becomes the subject of the inheritance under the conditions of Paragraph 25. '

5. In Article 23, the following paragraph 2 is inserted after paragraph 1:

"(2) If both the participant and the person designated in the contract die at the same time or in circumstances which prevent the finding of which of them died first, the participant shall be deemed, for the purpose of assessing the existence of a right of disposal, to have established that the participant has survived that person and the amount calculated in accordance with paragraph 3 becomes the subject of the inheritance under the conditions of Paragraph 25. ';

Paragraphs 2 and 3 shall become paragraphs 3 and 4.

6. In the last sentence of Paragraph 24 (4), "3 'is replaced by" 4'.

7. In Paragraph 25, "2 'is replaced by" 3';

8. In Paragraph 27 (1), the words "than the amount giving rise to a State contribution (Paragraph 29 (2)) 'are replaced by the words" more than CZK 100'.

9.

„§ 29

The provision of a State contribution to the benefit of a supplementary pension insurance participant shall be governed by the law governing supplementary pension savings. ';

10. In the first sentence of Paragraph 30 (1), the words "pursuant to Paragraph 29 'are deleted.

11. in Paragraph 45a (4) of the introductory part of the provision, the text "paragraph 1" shall be deleted;

12. In Paragraph 45a, paragraph 6, including footnote 1ac, is deleted.

Paragraphs 7 to 10 shall be renumbered paragraphs 6 to 9.

ČÁST ČTVRTÁ

Amendment of the Enforcement Order

Čl. V

Act No. 20 / 2011, No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act No. 20 / 2011, Act.

1. In the first sentence of Article 34 (3), the words "co-operation 'are replaced by the words" or financial institution co-operation' and the words "monetary institution co-operation 'are replaced by the words" monetary institution or financial institution co-operation'.

2. In the second sentence of Article 34 (3), the words "not required 'are replaced by the words" not required'.

3. In the second sentence of Paragraph 44a (2), "8 'is replaced by" 9'.

Citation	Act No. 462 / 2023 Coll., amending certain laws relating to the development of the financial market and the promotion of old age reinsurance
Regulation Type	Law
Author	-
Collection	Code of Laws

Date of Promulgation	29.12.2023
Effective from	01.01.2024
Effective until	-
Status	Valid

Act No. 462 / 2023 Coll.

Law amending certain laws in connection with the development of the financial market and the promotion of old age reinsurance

Contents