How to file your Czech income tax return for the year 2022

Approaching the end of April, one of the more difficult periods of the tax year is nearly over, but the are still important deadlines for you to keep in mind. In this article, we'll go over the ways to file a tax return in the Czech Republic.

If you live and work in the Czech Republic, you will certainly be required to file an annual tax return. You have the option of filing your taxes online, via mail, with a tax professional, or in person. Everyone, whether Czech or foreign, who lives and works in the Czech Republic is required to pay income tax. Self-employed people who earn more than CZK 6,000 per year must file a tax return (daňové přiznání) - same for the unemployed with capital gains, rent or other remuneration exceeding CZK 15,000 per year.

There are four different ways to file a tax return:

1. in person at the local competent tax office's filing office in paper form (i.e. on a pink form or in a black and white version). The tax office is where you can drop off your forms. However, given the current scenario, make sure to double-check the opening hours, which may change due to the pandemic, and adhere to the sanitary guidelines.

2. by registered mail (paper mail) (i.e. on a pink form or in a black and white version). Another method is to print the completed tax forms (the NeoTax do-it-yourself service can assist) and mail them to the tax office in your district.

3. By filling up the data box via an online form (the tax return is submitted in XML format) Last year, the online tax office added an electronic identification tool that allowed customers to log in using their internet banking, identity, or databox. As a result, filing a tax return in person in the Czech Republic is no longer required. Instead, Mojedane21.cz, an online tax platform, was launched by the Ministry of Finance. It's a new platform with some complicated, legal tax problems that can make you think taxes aren't so simple. For this reason, we recommend using our online application to file your tax return in a simple and straightforward manner.

4. with the assistance of a tax professional. Last but not least, using the services of a tax advisor is an alternative. A power of attorney will be used by the tax advisor to prepare and file your tax return. Filing with the assistance of a tax professional has the benefit of extending the deadline (see below). If you're interested in knowing more about this service, please contact us at [email protected] .

Keep track of deadlines.

The deadline to file your tax return on paper is usually the first day of the fourth month (April 1st) after the tax period ends. If the tax return is not filed by this date, the deadline is extended to the second day of the fifth month (May 2nd). Additionally, if you file with a tax professional such as NeoTax, the deadline will be extended by three months, giving you until the first day of the seventh month to file (July 1).

Penalties

Late filing or refusal to file, unreported income, and failing to meet other non-monetary responsibilities all result in penalties. The penalty for filing a tax return late is calculated using the amount of tax liabilities declared and the number of days the return was late. The maximum amount per tax return is CZK 300,000, or 5% of the claimed amount.

All penalties may be partially or fully waived if certain conditions are met.

Tax preparation is available online, right here.

NeoTax.eu walks customers through the forms using a question-and-answer style in a variety of languages, then prints or submits the completed forms on their behalf.

_In addition, if the customer requires tax guidance, it is just a click away._

You can learn more about our services on www.neotax.eu .