Publication at Faculty of Law |
2020
Abstract
The paper deals with the issue of a loss carryback, i.e. an application of a tax loss in tax periods that precede a tax period in which the tax loss is incurred. The possibility to deduct the incurred tax loss not only from a tax base of future tax periods is a new institute of the Income Tax Act, which is to contribute to mitigating the negative economic impacts of the COVID-19.
The measure was enshrined in this Act through the so-called anti-crisis tax package, which was enacted by the Parliament of the Czech Republic on 16 June 2020 and which is applicable to income taxpayers for tax periods ending from 30 June 2020.