Do I have to do my taxes? Income tax 2020 explained

March approaches, and with it – as every year – the time to report your taxes.

Read further to find out whether you have to be conscious of this deadline (or a different one), and also to find out what happens with your income every year.

Please, note that the rules and procedures differ drastically between employees and the self-employed.

A] Employees

If you’re an employee, you can learn what happens to your income (i.e. what fees get deducted, the tax allowances and reliefs you can claim) either in this guide, or you can watch our short webinar. The explanation is only 18 min long, the rest of the video are questions from your peers.

The video is especially useful to explain whether you have to worry about any obligations. Most of you have probably asked your employer to have your taxes balanced and you don’t need to care further. However, the video also explains whether it would be advantageous for you to file your tax report yourself – maybe next year, you can have a go.

B] Self-employed: entrepreneurs, “OSVČ”

If you are a self-employed entrepreneur, watch our short webinar to find out what you have to do with your income from business activities in the CR. We explain how your tax gets calculated (including tax allowances and reliefs) and what other fees you’re obliged to pay.

The webinar is only 18 min long, the rest of the video are questions from your peers.

Tax residency

If you’ve watched our webinars and don’t know for sure if you’re a Czech tax citizen or not, read this guide.

 


Here, we’d like to thank an expert accountant Michael Hájek from Bell Consulting who kindly joined us during both webinars as our “friend on the phone” to answer your peers’ questions.

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