Important: Czech Income Tax Return for 2012 - Deadline is 02.04.2013The Czech Bookkeeping year for s.r.o.s, trade licenses and private individuals (employees) runs from the 1st of January till the 31st of December (01.01.2012-31.12.2012), after which there is a 3-month period to file the last year's Income Tax Return.
Therefore the earliest possible day to file is 1.1.2013 and the last possible day to file an Income Tax Return for 2011 is 31.03.2013. This doesn't mean that the tax year is from March until March(!)
Wwe highly recommend to contact us as soon as possible, because by the end of March we will be very busy.
Extending / postponing filing the 2012 Income Tax Return:This year, 31.03.2013 is a Sunday, and Monday is Easter, which means that there is a grace period till Tuesday 02.04.2013.
A tax extension filed on Tuesday 02.04.2013 is still in time IF FILED at the correct tax office.
It is not possible to file for an extension after Tuesday 02.04.2013 - it will be too late.
If your tax office is not in Prague, and we need to send the extension by mail,
the letter must reach that taxoffice by 02.04.2013 (else it is too late). In that case we can also file electronically.
Extending your tax return means that we get 3 months more to file (until 31.06.2013)
and our tax advisor will take responsibility for the correctness of the tax return.
Costs for Extending a Tax ReturnFor personal income tax returns and tax returns of trade licenses we charge a fee from 3.500 CZK.
For sro's the responsibility is greater and therefore we first must see the papers before being able to give an estimate.
Filing an Income Tax Return too lateIn case you file a Tax Return too late, the tax office may impose a fine, which can range between several 100s of CZK to several 10.000s of CZK, depending on the amount of tax to be paid.
Not filing an Income Tax Return at allEven if the business (sro company or tradelicense) did not have any activities or did not generate any money in 2012, you are obligated to file a tax return, at least a 0-tax return.
For sro's, not filing may have the consequence that the taxoffice will eventually ask the tradelicense register / commercial court to de-register the company, making it impossible to trade (and consequently, the visa of the director will expire).
For tradelicenses, earnings are forwarded from the taxoffice to the social office (everybody) and the health insurance (EU-only). Not filing will mean that the social- and health office will not get this information and you can expect letters from them, because they have nothing to base the new montlhy fees on.
For employees, not filing usually means missing out on tax benefits for yourself, your spouse and children, paid mortgage interests, paid life insurance, gifts - few companies automatically assign these benefits to the (foreign) employee, so in order to claim them you will have to file a taxreturn.
Not money to pay the Income Taxes now? Extend!In case your Tax Return is ready, but you do not have the money to pay the income taxes now, then one option is to not file that Tax Return now, so you will have 3 months more to generate money for the Income Taxes.
How does the extension work?
- Contact us immediately by email (firstname.lastname@example.org) or phone (+420 739 45 96 48 - Petra)
- option A: You will sign a Power of Attorney for our RTA (Registered Tax Advisor) in our office (preferred)
- option B: We will send the PoA by email, you send back the scan + paper original, we will file the scan electronically immediately and the paper original when we receive it of you.
- We will send you a scan or paper copy of the proof of acceptance by the tax office,
- Payment is in advance, either in cash, by bank transfer or by PayPal / creditcard.