The standard tax year in the Czech Republic is the calendar year. Alternate tax years are allowed.
Annual tax returns must be filed within 3 months following the close of the previous tax year. The deadline is extended by one month in case of electronic filing. The deadline may be extended to within 6 months following the close of the previous tax year if the return is prepared and filed by a registered tax advisor with a power of attorney.
The deadline is automatically extended to within 6 months of the close of the previous tax year when the taxpayer is subject to a mandatory financial audit. Taxpayers subject to mandatory audits include joint-stock companies if any one of the following conditions are met, and limited liability companies if any two of the following conditions are met:
- Annual turnover exceeds CZK 80 million;
- Total assets exceed CZK 40 million; or
- The average number of employees exceeds 50.
All banks and mutual funds, and foundations, and certain other non-profit organizations are subject to mandatory audit regardless of the above conditions.
If any errors are discovered by the taxpayer, they should file a supplementary return within 1 month of discovering the error.
In response to the COVID-19 pandemic, the deadline for filing of annual income tax returns for legal entities due on 1 April 2021 for the year 2020 is extended until 3 May 2021 for paper filings, and until 1 June 2021 for electronic filings with a waiver of associated penalties for late filing. The interest on late payment of tax is also waived provided the tax is paid within the extended due dates. A penalty waiver is also allowed for the submission of additional tax returns for 2019, if filed by 3 May 2021.
Advance tax payments are required depending on the taxpayers’ previous year's tax liability.
If the tax liability exceeded CZK 150,000, quarterly advance payments equal to 1/4 of the previous year’s tax liability are required. If the tax liability exceeded CZK 30,000 up to CZK 150,000, semi-annual advance payments equal to 40% of the previous year’s tax liability are required.
Any outstanding balance due following the close of the tax year must be settled by the annual tax return deadline.
Tax returns and other forms may be filed electronically via the Czech tax portal (Czech language).