Retroactive use of past tax losses

The Income Tax Act implemented the possibility to use past tax losses retroactively. It applies to tax losses accrued in the tax periods ending 30 June 2020 or later with respect to personal and corporate income tax and it covers up to two preceding tax periods where the tax loss was created. The maximum amount of such used tax loss can be CZK 30 million.

Now, the tax loss can be used in five future tax periods and two past tax periods.

The retroactive use of past tax losses can be done through a supplementary tax return for the previous periods.