The Czech Ministry of Finance has issued a new Decree D-300 on the interpretation of certain provisions of the Income Tax Act, which was published in the Financial Bulletin No. 11-12/2006 on 15 December 2006. This Decree replaces the old Decree D-190. This decree is treated as the administrative interpretation guidance of the individual provisions of the Income Tax Act. While not legally binding, it is an important and useful guidance, which is widely followed by all the instances of the tax administration in the Czech Republic. The guidance contains a number of specific sections relating to personal and corporate...