Submission of income tax return for 2019 and other income tax relief (LIBERATION PACKAGE III). (No. 922)

The income tax return for 2019 for both individuals and legal entities can be submitted and the tax can be paid by 18th August 2020 without any sanctions. However, this relief does not apply to those legal entities whose tax period is not the calendar year. Furthermore, this relief does not apply to entities whose tax administrator is the Specialized Tax Office. These entities may apply for an extension of the deadline for submitting a tax return individually.

Based on the decision of the Minister of Finance, which is published in the Financial Bulletin No. 9/2020 (available only in Czech), the sanctions resulting from the late submission of tax return and late payment of tax (1st April 2020 or 1st July 2020) are waived. If the tax return is submitted and the tax is paid (credited to the tax office's account) no later than 18th August 2020, then the fine and interest for late submission of the tax return are automatically waived. If the deadline of 18th August 2020 is not met, then both sanctions (fine and interest) will be calculated from the original day of deadline (from 1st April 2020 or from 1st July 2020).

The waiver of sanctions also applies to the late submission of a notification of exempt personal income if the notification is submitted by 18th August 2020 and it also applies to late submission of settlement relating to personal income tax paid in advances prepared and filed by the employer if it was submitted by 31st May 2020.

Individuals who were obliged to submit an supplementary tax return for 2018 (due to a change in the method of expenditure´s application or due to the accounting start in 2019) are also exempted from fines for late submission of this supplementary tax return and payment of this tax only if the tax return is submitted and the tax is paid until 18^th August 2020.

publikováno 12.06.2020