In connection with the declared state of emergency, the Ministry of Finance announced that businesses can defer their tax obligations, provided that more than half of their income comes from government-prohibited or restricted activities.
Fulfillment of more than half of the income from selected activities must be notified to the tax authorities. These include, for example, the operation of restaurant facilities and bars or the operation of indoor sports facilities, gyms and fitness centers or operation of cultural events. These businesses can defer VAT payments for the months of September, October and November in the case of monthly payers and for the 3rd quarter in the case of quarterly payers. The related interest on late payment will be waived. Prepayments for income tax and road tax are also waived in the period from 15.10.2020 to 31.12.2020.
Our tax team is ready to provide you with more details on this issue or to help you prepare a notification.
Head of Tax Team
ASB Czech Republic