Corporate income tax is levied on corporate entities in the Czech Republic, including joint-stock companies, limited liability companies, general partnership and limited partnership. The last two entities are considered for tax purposes transparent, and therefore taxed at their partner’s level.
Legal persons with a registered office or a place of management in the territory of the Czech Republic are subject to tax liability, which is related to their worldwide income. Non-residents are subject to tax only on incomes from resources in the territory of the Czech Republic.
The Czech Republic introduces an extraordinary windfall tax as of 1 January 2023. The windfall tax will be levied on excess profits for a period of years 2023 - 2025 and will apply to companies in the sectors of energy production and trade, banking, oil industry, mining and fossil fuel processing. The windfall tax rate is 60 % of the excess profits that will result from the differences between the annual tax bases in the period 2023 - 2025 and the average of the tax bases increased by 20 % in the last four years (i.e. 2018 - 2021).
The taxable period of the Czech corporate income tax is generally a calendar year or a business year, which starts on the first day of a month (except January) and runs for twelve successive months.
The deadline for corporate income tax is the end of March but it can be prolonged till June if you grant the power of attorney to an tax advisor. YourTaxes.cz is happy to accept the power of attorney and assist you with the corporate income tax return preparation and filing.
During our work we can eliminate many mistakes in internal processes by preparing the tax return so you can avoid possible risks in the future. Our work does not finish with the submission of your tax return at the Czech tax office. We can help you with the postponement of tax payment, with the request for reduction or cancellation of advance payment obligations, and with the correction of mistakes from the past, etc.
The financial statements must be filled together with the corporate income tax return in the Czech Republic. The financial statements is based on the statutory accounting which every company must keep in the Czech Republic. We can assist you - YourTaxes.cz - your accountant in the Czech Republic.
Our advisors can help you also with another tax liabilities, such as Czech VAT. Should you be interessted in more details about the Czech tax system, please visit the special section on our website.
Yourtaxes.cz - Partner for your Czech corporate income tax
Ing. Ondřej Antoš, LL.M.
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