skupina

Increase of the limit for deduction of donations already in 2020 (No. 994)

With its publication in the Collection of Laws, an amendment to the Law on Income Tax came into force, which increases the limit for the deduction of donations both for natural and legal persons. Namely, the income tax base can be reduced by donations made to education, culture, educational system, physical training, charitable gifts, religion etc.

For individuals, the limit is increased from 15% to 30% of the tax assessment base; the new rate can be applied in their tax returns for the years 2020 and 2021. The minimum amount for the donation remains at CZK 1,000.

For legal entities, the limit for applying donations is increased from 10% to 30% of the tax base, too. The increased limit can be applied for the tax periods that end between March 1, 2020 and February 28, 2022. The minimum donation amount for legal entities continues to be CZK 2,000.

Please note that the electronic forms on the Financial Administration portal have not yet taken this change into account; for more information on filing through the Financial Administration tax portal, see here.

publikováno 15.02.2021
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