Advice to restaurant owners or part-owners: at lunch today a friend tells me about a story he saw on TV Nova on how restaurants are reacting to the impending deadline to add 22% VAT to food prices. Apparently there's a revenue threshold below which you don't have to add the tax. It's 1 million Kc, I was told. So restaurant owners, some at least, are dividing their businesses into several parts, say a restaurant, cafe and, oh, I don't know, say a combined video rental and massage parlor. Anyway, whatever you do, each one has to have a different nominal jednatel (chief sausage), and the restaurant itself has to somehow book less than 1 million Kc a year.

Your tax avoidance tip of the day, courtesy of TV Nova. MacMillan take note.

Steve | 00:13 |