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Czech Republic: Postponed advance tax payments; waiver of VAT; loan repayment (COVID-19)

Czech Republic: Postponed advance tax payments

Tax and economic relief measures continue as the tax authorities in the Czech Republic respond to the coronavirus (COVID-19) pandemic.

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The KPMG member firm in the Czech Republic has prepared reports about the following relief measures.
 

Postponement of advance tax payments

The General Financial Directorate (GFD) published guidance that allows taxpayers to apply for a postponement of advance payments—or for paying the tax in instalments—regarding certain types of withholding tax and for individual (personal) income tax on “dependent activities.” Taxpayers can apply for this relief with regard to withholding tax that is due between 31 March and 31 August 2020 and concerning dependent activities for the period from February to July 2020. However, the postponement is available until 30 September 2020. Read an April 2020 report
 

Waiver of VAT

Value added tax (VAT) on goods and services that serve to stop the spread of COVID-19 when provided to certain entities, including healthcare providers, has been waived until the end of the COVID-19 state of emergency. Read an April 2020 report
 

Loan-related relief

A new law concerns the repayment of loans during the COVID-19 pandemic, and allows a possibility of postponing the repayment of certain loans. The new law also provides that lenders may show leniency with regard to loans not covered by the new law or grant a postponement under more favourable conditions, based on a specific agreement with the borrower. The law also prohibits a borrower from disposing of assets during a certain period of time if the disposal were to result in substantial changes to the structure, use, or purpose of the assets. Read an April 2020 report

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