Increase in tax benefits for children

The increase in tax benefits in 2016 has been approved. For the second child, the annual amount of tax benefits increases to CZK 17,004. For the third and all other children, the amount is always CZK 20,604. The increased amounts can be applied to salaries for the first time for May 2016. For the purposes of annual taxation, the increased amounts will be applied from January 2016. The difference will be settled for employees in their annual tax settlement.