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INHERITANCE AND GIFT TAXES

Inheritance tax is payable in case of receipt of property by an inheritor due to the death of a testator. Property includes immovable (land, building), movable property, securities, etc. The receipt of immovable property located in the Czech Republic is subject to inheritance tax, regardless of the residence of the testator/inheritor. The inheritance of movable assets is in principle subject to Czech tax if the testator was a Czech citizen and/or if the movable property was located in the Czech Republic.
The receipt of assets without consideration is subject to agift tax. If property is given to a Czech individual or entity, then the recipient has to pay the gift tax. If property is given to a foreigner, the gift tax has to be paid by the Czech donator.

Based on materials published by www.businessinfo.cz