Anti-crisis tax package

On 29 May 2020, the Chamber of Deputies approved the retroactive use of past tax losses accrued in the tax period ending 30 June 2020 or later and regarding personal and corporate income tax. This applies to tax losses accrued in 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.

Together with the change in the deduction of a tax loss, the Chamber of Deputies also reduced the value added tax rate regarding accommodation services and admission fees to sport and cultural events from 15 per cent to 10 per cent.

The bill is currently being deliberated in the Senate.