Code of Ethics

Approved by the General Meeting of the CR Chamber of Tax Advisors, the Code of Ethics of the Chamber (only "Code" hereinafter) is based on legislation represented by Act 523/1992 Coll., On Tax Counselling and the CR Chamber of Tax Advisors; moreover, the Code applies the principle of professional ethics as included in the code issued by Confédération Fiscale Européenne, an umbrella organization for European tax counselling services. The Code is a background document formulated to specify the rules to be observed when providing tax counselling services. The document aims to establish the relevant ethics requirements and make sure tax counselling activities are performed in accordance with high professional and moral standards.

  1. Independence
When carrying out his/her duties, the tax advisor shall always exercise full professional independence. This requirement shall be met both in representing the interests of clients and in solving conflicts of interest between the tax advisor, the client, the Revenue Authorities, and other relevant parties.

  2. Responsibility
a)   Rendering the tax counselling services, the tax advisor shall act on his/her own responsibility. The advisor shall be responsible for his/her own work and those in his/her employ. In case tax counselling services are provided through a legal person, the responsible tax advisor shall see to it that the legal person gives the tax advice supervised and monitored by a tax advisor.
b)   The risk taken by the tax advisor in performance of his/her duties, as related to the liability for damages caused by his/her professional misconduct, negligence, or by any other legally enforceable claim of a similar nature, shall be covered by adequate professional indemnity insurance.

  3. Care & conscientiousness
When practising his/her profession, the tax advisor shall comply with applicable legal regulations, vocational rules and, within their scope, with the client's instructions.
This principle requires that the advisor is independent in all professional dealings and, in particular, and exercises objectivity when assessing a specific case. Before accepting an appointment, the tax advisor should consider, carefully and in sufficient detail, whether he/she is able to complete the required tasks in proper conformity to his/her duties and competencies.

 4.  Confidentiality
The obligation of confidentiality applies to all information entrusted to the tax advisor by his/her client, or those that the advisor obtains in performance of professional duties. The tax advisor shall make sure such confidentiality is maintained by each person that was granted access to information throught the advisor's professional activities, primarily by his/her employees and colleagues.

  5. Compatible & incompatible activities
The tax advisor is supposed to pursue only permissible activities compatible with his/her profession which do not compromise regulations, vocational duties, rules of ethics and do not damage the professional reputation of tax advisors.

  6. Publicity
The tax advisor is to inform on his/her professional activities using solely truthful information.

  7. Relations with colleagues
Acts by the advisor affecting other tax advisors shall honor the principles of morality and enhance good relations with other members of the profession.

  8. Remuneration
The client shall be entitled to know the amount to be paid as remuneration due to the tax advisor before the advisor starts providing the service. The remuneration should factor in the degree of responsibility, the character and importance of services rendered and the time needed to accomplish them.

  9. Professional education
The tax advisor is expected to develop his/her professional prowess and technical know-how throughout the entire period of providing the tax counselling services.

10. Disciplinary actions
An advisor in major breach of his/her voluntary commitment to observe this Code may be subject to a disciplinary action by the CR Chamber of Tax Advisors.