Webinar: Anti-Crisis Tax Package with special focus on the new institute of tax loss carry back
Crowe CZ invites you to a free webinar, during which our experts will discuss most important changes with special focus on tax consequences of the new institute of tax loss carry-back as well as practical approach to estimation of 2020 tax loss to be deducted in CIT return for 2019.
The Czech Republic is entering into next phase of the fight against the consequences of large-scale measures in connection with the Covid-19 pandemic, which affect many entrepreneurs and companies. To mitigate the negative economic impacts, the so-called Anti-Crisis Tax Package has entered into force on July 1, 2020.
Anti-Crisis Tax Package is covering broad changes in many tax areas such as:
- new institute of tax loss carry back in the area of income tax
- decrease of VAT rate in specific industries
- decrease of road tax for trucks
Institute of tax loss carry back is especially interesting for those who has generated tax profit and thus, shall declare tax liability for the tax period of 2019; however, expect loss in the year 2020. Temporary provisions of Anti-Crisis Tax Package introduce possibility to decrease the tax liability for 2019 based on the estimation of tax loss to be generated in 2020, already within the “prolonged” deadline for submission of the Corporate Income Tax return for 2019 by 18 August 2020.
Hereby we invite you to a free webinar, during which we will discuss most important changes with special focus on tax consequences of the new institute of tax loss carry-back as well as practical approach to estimation of 2020 tax loss to be deducted in Corporate Income Tax return for 2019 .
The webinar’s agenda:
- “Prolongation” of deadline for submission of Income Tax return for the 2019 tax period
- Conditions of application of the tax loss carry back
- Impact of tax loss carry back application on deadline for tax assessment
- Application of tax loss carry back for the 2019 tax period
- Accounting as well as tax approach to estimation of tax loss in the 2020 tax period
- Sanctions related to incorrect or inaccurate estimation of tax loss
Participation in the webinar is free of charge. The event will be conducted in Czech.
During the webinar, our experts will answer questions raised by participants. In case of a large number or complexity of questions, those will be answered subsequently after the webinar via e-mail sent to all webinar participants.
- Andrea Kleinová, Certified tax Advisor, Crowe
- Lucie Švarcová, Certified tax Advisor, Crowe
- Veronika Žáčková, Accounting Manager, Crowe