Czech Republic - Changes to due date for filing income tax returns on company transformations

January 27: Under an amendment to the Transformation Act (novely zákona o premenách), the deadline for filing income tax returns on company transformations has been amended.

Also, under the income tax law, provisions have restored a prior condition concerning the claim for a write-off of a receivable for tax purposes.

To read a January 2012 report prepared by the KPMG member firm in the Czech Republic: Financial Update (January 2012)

The KPMG report also reviews:

The approaching deadline for the year-end income tax settlement
The extension of provisions allowing companies to apply for support for projects involving industrial zone preparation, facility renovation, or project design/documentation development
That employers cannot claim deductible items and tax credits within the year-end tax settlement performed on behalf of foreign employees (tax non-residents), except for applying a basic credit per taxpayer and per student
That the Supreme Administrative Court’s decision concerning whether work performed by an individual for a company represents employment, or whether it represents separate business activities, is to be made on a case-by-case basis

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© 2012 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.