Tax return in 2024: when and how to file?
Millions of Czechs file personal income tax returns each year. However, many of them do not know how and when to submit it correctly. That's why we've summarised the most important rules for you.
Read the most important facts:
When to file my tax return?
The deadlines for filing your tax return are set by the tax code, which says you must submit a proper paper tax return within 3 months of the end of the previous year.
Businesses are now required to file their tax returns electronically. They must do this within 4 months of the end of the previous year. If your tax adviser (or solicitor if your company is subject to an audit) completes the document for you, you have up to 6 months from the end of the previous tax year to submit it. Today, the power of attorney for the tax advisor/attorney need only be delivered to the tax office together with the return.
The following deadlines apply for filing the 2024 tax return:
- Paper submission is possible until 2 April,
- electronically by 2 May,
- via a tax adviser by 1 July.
Note: Only taxpayers without a data box may use the paper form of filing. Businesses and sole traders have their own data box by law, so they must submit documents online, for example via the My Taxes portal.
Who files the tax return?
According to the law, every natural person with an annual income over CZK 50,000 must file an income tax return. This amount does not include income exempt from tax (typically gifts or inheritance) and income subject to withholding tax (e.g. from work performance agreements).
The employer usually fulfils this obligation for employees if they have signed the so-called pink taxpayer declaration and do not have more than one income at the same time. Otherwise, the employee handles the tax return himself.
Most entrepreneurs are also required to file a tax return. The only exceptions are self-employed persons with a low annual income (up to CZK 50,000 for the main activity and up to CZK 20,000 for secondary activities during employment) and sole traders in the flat-rate tax regime .
Until when is income tax payable?
The deadline for paying the tax is the same as the deadline for filing the return. Beware, as the tax office may charge you interest for late payment.
You should also book any advance income tax paid against the tax calculated, if you pay it during the year. Remember that if you pay more than CZK 30,000 in tax, you will be liable to make advance payments from the next period onwards.
If you have overpaid tax, you can claim a refund - this is part of your tax return. Find out more in our article on how to pay your tax.
What if you file your tax return late?
If you file late, you risk penalties. However, a certain level of tolerance applies. If you submit your return within 5 working days after the deadline, you will not be penalised. If you take longer than this, the authorities will charge you a penalty of 0.05% of the tax or tax credit for each day you are late (the maximum penalty is 5% of the amount).
The tax office can also charge you a penalty if you submit your tax return incorrectly or in the wrong form (for example, paper instead of electronic). The tax authority will first warn you and if you do not respond to the notice, it will impose a fine of CZK 1,000. The penalty may be increased for particularly serious obstructions.
What if you make a mistake on your tax return?
If you make a mistake on your tax return, you can correct it by filing an amended or additional tax return. What is the difference between the two?
If you discover the mistake before the regular filing deadline, you can just fill out an amended return and send it to the tax office. The tax office will then only consider the new version of the document.
You may discover the error later - the rules allow for this too. You have up to 3 years from the end of the deadline for submitting the correct return to correct it. File a supplementary return and pay the unpaid tax within this period - but you must do this by the end of the month following the month in which you discover the error.
Tip! If, in hindsight, you discover that you have paid more in tax to the government than you should have, you don't have to deal with anything. Only file a supplementary tax return if you want to claim a refund of the overpayment - depending on the amount, consider whether the extra paperwork is worth it.
If you find that you have inadvertently paid less to the government, the additional tax return (and payment of the underpayment) are compulsory for you.
Watch out for changes to the regulations
Don't forget that a number of tax rules will change because of the government's consolidation package. However, the changes apply to 2024 income, so you won't take them into account until your return in spring 2025.
Notable new changes include the abolition of tuition fees and the student discount. There will also be a tightening of the spouse's allowance, which you will now only claim if you have a child under 3. Trade union allowances will no longer be deductible from the tax base.
The state will also lower the threshold for applying the progressive 23% tax rate paid by high-income earners. Those who earn more than 3 times the average wage will pay extra tax (previously it was 4 times). Stricter rules will also affect the taxation of lottery winnings.
Interested in the details? Find out what other tax changes are coming from 2024.
Don't forget the overviews
Your obligations don't end when you file your tax return. You must also submit your income and expenditure statements to your health insurance company and the Czech Social Security Administration (ČSSZ) within a month of filing your return.
Don't want to deal with the annoying paperwork yourself? We will be happy to handle your personal tax return and the mandatory reports for you. Let us know using the form below and we will discuss the details.