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The government has approved a second Tax Liberation Package

Company: PricewaterhouseCoopers Česká republika, s.r.o.

In view of the current situation, the Ministry of Finance has extended the Tax Liberation Package with further measures. It waives the obligation to pay advance payments for PIT and CIT due in June 2020. With regard to income tax, it also introduces the "loss carryback" measure for 2020, whereby it will be possible to apply the tax loss for the current year retrospectively in the tax returns for 2019 and 2018. 

The package also includes the remission of the fine for late filing of a real estate acquisition tax return, for late payment of a real estate acquisition tax or an advance on this tax. Without the risk of a penalty, these returns can be filed by 31 August 2020. The last measure is to suspend the obligation to electronically record sales for entities in all stages of the EET (Elektronická evidence tržeb – Electronic Sales Records) for the period of the emergency and the following three months. "Loss carryback" and suspension of EET now require amendments to the respective laws.***

Martin Diviš, Tomáš Vlk
PwC | Daňové a právní služby

Tags: Finance | Health |

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