The deadline for the personal income tax return falls on 3 April, 2018, which is also a date for the payment of the tax. Below you can find a list of the most common mistakes which the tax payers should pay special attention to:
- Tax deductible items and tax bonuses wrongly claimed – all conditions and limits stipulated by law are to be taken into consideration so that the tax-deductible items and bonuses could be claimed. For instance, the so-called preschool fee may only be deducted to up to the amount actually paid rather than the maximum possible sum.
- Wrongly deducted spouse tax benefit and a child bonus of businesspersons in accordance with their total income which forms the tax base for the percentage expenses.
- A correct assessment of the possibility of the spouse benefit – sickness benefits and unemployment and maternity allowances are to be included in the sum of CZK 68,000, which is the limit defined by law. On the other hand, the parental allowance, which represents a social security contribution, does not constitute the spouse’s income.
- Dual family bonus claim made by two tax payers – if a child is maintained by more tax payers in a common household, the family bonus may only be claimed by one of the parents in the same month.
- Finally, an omitted signature on the personal income tax return report or a signature for the purposes of income tax overpayment reimbursement left out.
Should you find yourself in need of help, we will be happy to assist you with the compilation of the tax return. Should the return be processed by a tax advisor, the deadline for its submission is automatically postponed to the 30 June, 2018.