On 16 June 2020, the Chamber of Deputies passed the anti-crisis tax package for the second time aimed at mitigating the adverse economic effects of the pandemic on entrepreneurs and companies. The package is set to be signed by the president and will take effect the day after its publication in the Collection of Laws. The packages include the following things:
- Entrepreneurs and companies will have the opportunity to claim a tax loss carryback. They will be able to repay it for the two tax periods preceding the tax period in which the loss arose. Therefore, if they report a tax loss for the tax period of 2020, they will be able to reduce their tax base retrospectively by this loss for the tax years of 2019 and 2018. The tax loss will be applied retrospectively for the tax period ending on 30 June 2020, up to the maximum in the amount of CZK 30 million.
- The VAT rate is reduced to 10% from 15% on accommodation services, admission to cultural events and sporting events, admission to sports grounds (including lift tickets) and admission to saunas and other similar facilities.
- For agricultural businesses, the deadline for filing a claim for refund of overpaid excise tax on “green diesel oil” would be shortened.
