The Ministry of Finance and the financial administration react to the current situation

The Ministry of Finance and the financial administration have reacted to the current situation and will assist economic subjects as much as possible to overcome the emergency regime. The already approved Liberation Package will be supplemented with the approval of the Ministry of Finance to postpone the deadline for submitting real estate transfer tax returns until 31 August 2020. The introduced concept of retroactive use of a tax loss can be used by tax payers, who can apply the potential losses recorded in 2020 retroactively in their tax bases for the years 2018 and 2019, which means they can receive a refund from the financial administration. The Ministry of Finance also proposes to waive tax deposits of personal and corporate income tax paid in July. This means that the July deposits (i.e. the second deposit regarding quarterly payers and the first deposit regarding half-year payers) will not be paid at all. In addition, the liberation measures will be extended, namely those related to waiving penalties and fees. The exact technical requirements will be published in the Financial Bulletin and on the websites of the financial administration after being approved by the government.You can find more information here and here (in Czech only).