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:
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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