Remember that you can newly claim the expected current tax loss within the immediately preceding period (č. 950)
In connection with the negative impacts of the current epidemiological conditions, we remind you that we have previously informed you about the possibility of claiming the estimated loss for the current tax period (usually the year 2020) in the income tax return for the previous tax period (most frequently for 2019).
Claiming the estimated tax loss for 2020 may result in an overpayment of income tax already paid for 2019, significantly earlier than waiting until the tax assessment after the income tax return filing in 2021. Finally, if, after the tax has been set for 2021, the loss assessed is lower that the estimated loss, a penalty in the form of interest on default payment arises. Conversely, if the assessed loss is higher than the estimated loss, it will be possible to claim the difference in subsequent tax periods.
The estimated tax loss can be claimed in the supplementary tax return in accordance with the procedure specified on the Financial Administration website.
Despite the possible sanction in the form of interest on default payment, this is an interesting opportunity how to respond relatively quickly to the current economic situation during exceptional measures and a slowdown in economic activities.