Tax and legal news

On Thursday 28 May 2020, the Chamber of Deputies approved the original governmental amendment to the Compensation Bonus Act. The compensation bonus can be drawn by associates of small companies .

The Chamber of Deputies approved the option of postponing payments of social security made by employers for the period May to July until 20 October 2020.

The Chamber of Deputies approved conditions for direct support of self-employed persons (the SEP) in the form of a one-time compensation bonus amounting to CZK 25,000. The amount is not subject to taxation nor insurance contributions.

Due dates for submission of corporate and personal income tax returns for 2019 and real estate transfer tax returns area postponed. Payments of depostits on income tax are waived and so is payment of road tax.

Self-employed persons do not have to pay deposits on social security payments for the period March - August 2020, deadline for submitting the 2019 contribution summaries are postponed till 3 August 2020. You can find more information here.

To help overcome the difficult financial situation, the government has suggested and will gradually implement the following measures to support companies, self-employed persons and employees: project Antivirus, loans COVID-I and COVID-II, bank guarantees for loans to companies, postponement of rent payments for entrepreneurs, a moratorium on loan and mortgage payments and so on.