Deduction of lump-sum expenses as the instrument of solving economic crisis

Abstract

The object of the chapter is a summary of changes performed in Income Tax Act in the area of deduction of lump-sum expenses for achievement, assuring and preservation of personal incomes with incomes from business enterprise and other self employment activities with the aim to evaluate their influence on alleviation of economic and financial crisis consequences in the Czech Republic. The stress is also laid down on legitimacy of lump-sum expenses deduction as such.

Keywords

• Personal income tax
• business enterprise and other self employment income
• rental income
• tax expense
• flat tax expense
• legitimacy
• economic crisis