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Czech Rep

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Czech Ministry of Finance Extends COVID-19 Tax Relief

The Czech Ministry of Finance has announced the extension of tax relief introduced in response to the COVID-19 pandemic. This includes the automatic deferral of tax payments by businesses whose primary activity falls into one of the areas explicitly targeted by government restrictions, including:

  • operation of restaurants and bars;
  • operation of music, dance, game, and similar social clubs and discos;
  • organizing concerts and other musical, theatrical, film performances;
  • organizing wedding celebrations, celebrations of joining a registered partnership and funerals;
  • operation of circuses and variety shows;
  • organizing pilgrimages and similar traditional events;
  • organization of congresses and other educational events;
  • organization of trade fairs;
  • operation of indoor sports grounds, gyms and fitness centers, artificial swimming pools, wellness facilities;
  • operation of zoos; and
  • operation of museums, galleries, exhibition spaces, castles, chateaux and similar historical or cultural objects, observatories, and planetariums.

The automatic deferral applies for all payments of VAT, income tax, and road tax due during the emergency period and only requires sending a notification that the taxpayer meets the conditions. The deferral applies until the end of this year (December 2020).

The announcement also notes the loss relief previously approved that allows companies and individual entrepreneurs to carry back losses incurred in 2020 for offset against taxable profit in 2018 and 2019. With respect to the loss relief, it is provided that taxpayers expecting a loss for 2020 may request a refund (if available after offset) and the refund will be paid as a matter of priority.

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