Trust funds are payers of corporate income tax. The subject of taxes does not include the trust fund’s income from dedicated property to the trust fund or from property to increase trust fund assets via a contract or last will. For the purpose of the Income Tax Act, it is assumed that a trust fund established under Czech law has its registered office in the Czech Republic and is thus a tax resident of the Czech Republic. Tax residents of the Czech Republic have tax obligations which apply both to income from sources in the Czech Republic, as well as from sources abroad.