Czech News - Dec 96 - Important Income Tax Changes - Investment And Pension Fund

Special rules have been introduced to apportion income/expense upon a transformation to or from an investment fund during the tax year.

The claiming by pension funds of a credit for the 25% withholding tax on bonds has been severely restricted in 1997.

The tax treatment of the liquidation surplus upon liquidation of a mutual fund has been clarified and is subject to 25 % withholding tax.

The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.

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