Deadline: when to fill out the tax return?
The basic deadline for submitting the tax return for 2022 is until April 3, 2023. In 2023, April 1 falls on a Saturday, so the deadline is extended to Monday, April 3, 2023. If the tax return is submitted electronically, then the deadline is extended to May 2, 2023.
Taxpayers who use the services of a tax advisor have a deadline for submitting their tax return July 3, 2023 (July 1 again falls on a Saturday).
| Submission form | When to submit? |
| Basic term | April 3, 2023 |
| Tax return online | May 2, 2023 |
| With a tax advisor | July 3, 2023 |
How to fill out and submit a tax return?
In the tax return for the year 2022, it is necessary to indicate all taxable income for the year 2022. That is, all income from dependent activities (employment) on which income tax advance has already been paid. Advance payments paid during the year are also included in the tax return, and if the monthly advance payments are greater than the calculated annual tax liability, the right to overpayment of tax arises.
The tax return can be submitted:
- personally
- by post
- electronically
Taxpayers with an established data box file their tax return through it. A self-employed person must submit a tax return using a data card.
While filing a tax return for the self-employed is a given, other taxpayers may struggle with this obligation. For example, employees who worked in a certain month in 2022 must submit a tax return at the same time for two employers and with both jobs they were paid advance income tax. The second group is employees with taxable income in accordance with § 7 to § 10 of the Income Tax Act of over 6,000 kroner, that is, for income from rent.
Tax return online
Even individuals who do not have a data box set up and want to avoid a possible wait at the tax administration can file a tax return electronically. In these cases, the portal can be used MY taxes on the website of the financial administration.
Electronic tax return – example
Pensioner Jana has regular rental income according to § 9 and is therefore obliged to submit a tax return for 2022. In the tax return, she will report only income and expenses related to rent, the pension that Ms. Jana receives is exempt from income tax. Ms. Jana submits her tax return electronically when she uses the MY TAXES portal.
Tax returns online in 2023 >>>
Corrective tax return
Taxpayers who it is still within the deadline for submitting a proper tax return discover that they have made a mistake on their tax return, they can correct it by filing a corrected tax return.
In practice, however, it is possible to submit multiple corrective reports, the financial administration considers the last submitted corrective report to be decisive. Given that the amended tax return is submitted within the deadline, so is its submission there are no penalties by the financial administration.
Corrective and additional tax return: What is the difference between them? >>>
Submitting an amended tax return – example
Employee Tomáš will submit a tax return at the beginning of March 2023. At the end of March, he realizes that he has not applied everything tax benefits, to which he was entitled. This discrepancy will be corrected precisely by submitting a corrective tax return before the end of the basic tax deadline for submitting a tax return.
VIDEO: Tax return 2023 – deadlines and when to submit
Tax return 2023 • VIDEO Videohub
Additional tax return
In practice, there are situations in which the taxpayer only finds out after the deadline for submitting the tax returnthat the tax return was not filled out correctly. In such cases, it is necessary to submit an additional tax return, which must be filled out a period of one month from discovering the fact that there is an error in the tax return.
Tax declaration form for download
The tax liability for the year 2022 can be met by filling out a two- or four-page tax form. The relevant tax forms can be downloaded annually from the website of the financial administration.
The simplified tax form on two pages can only be used by taxpayers who have income only from a dependent activity according to § 6 of the Income Tax Act (from employment). You can also download the tax return form on the E15.cz website:
Tax return: forms to download online >>>
Tax return for the self-employed
Self-employed persons who paid a flat tax during 2022 do not fill out a tax return. They fulfilled their tax obligations with regular monthly payments. Other self-employed persons must submit a tax return, using the classic four-page tax form and fill in attachment number one of the tax return. Expenses can be claimed in the actual amount or at an appropriate flat rate, which varies depending on the performance of the activity.
The calculated amount of personal income tax for 2022 depends only on the realized gross profit, applied tax benefits and tax credits applied. The number of months of self-employment does not determine whether the activity is performed in retirement or while studying.
Self-employed for secondary activity
Also, don’t forget that you have to fill out tax returns and reports even if you were self-employed for 2022. The difference in taxation can be significant.
The advantage of secondary independent activity is that it is not necessary to respect the minimum assessment for the calculation of social and health insurance, unlike the main independent activity. So, with the low profit of the self-employed, the taxation of secondary self-employment is low. With a high profit, it is the same as when performing the basic activity.
In practice, secondary self-employment is most often used in cases such as:
More in the article:
How to tax a self-employed person on a secondary activity? >>>
Entrepreneurship and employment in a year – example
Entrepreneur Simona was self-employed from January to June 2022, when she closed her business and then started working. Although Ms. Simona was self-employed only for part of 2022, she is required to submit a tax return and her employer cannot perform an annual tax calculation for her. Filing and filling in the tax return is not related to business throughout the year.
Tax return and multiple employers – example
In 2022, the employee Karel, in addition to his main job at employer XY, also had a part-time job in the DPČ at employer AB. The income tax advance to Mr. Karl was always paid from the gross remuneration from the employment contract. Mr. Karel is obliged to fill out and submit a tax return for the year 2022.
In his tax return, Mr. Karel must list all his taxable income, i.e. from both jobs. To fill out the tax return, Mr. Karel will request a certificate of taxable income for 2022 from both employers, which will be an integral part of the submitted return. Mr. Karel lives not far from the tax administration, and filing in person is the easiest for him.
Student tax return
Many students have their own income from independent work or self-employment during their studies. In some cases, students must also submit a tax return for 2022. The same conditions apply to them as to others. Tax returns must be submitted by students, but it is not just an independent activity. We looked at individual cases when a student must submit a tax return in a separate article:
Tax return 2023 for a student in examples >>>
Tax discounts
In general, you can claim tax relief when you calculate your net salary with only one employer. Employees who work for multiple employers cannot claim tax benefits for all of them. However, for example, working pensioners or students are also entitled to them. Examples of tax credits include:
It is also possible to sign a tax return while working on one of the DPP or DPČ employment contracts. To start a new business during the year, however, it is not necessary to sign a tax return.
All tax credits reduce the directly calculated personal income tax. What kind of discounts can be applied in the tax return submitted in 2023 for the year 2022 if the legal requirements are met, read in the article:
IN BRIEF: Tax credits 2023 >>>
How to tax rental income
One of the popular ways of investing is buying real estate with the aim of renting it out. However, rental income is not tax-exempt and therefore must be taxed.
If you plan to rent out your apartment or house, you will not avoid tax on this income. The obligation to pay taxes refers to the rent of an apartment, non-residential space and land.
Tax returns for the year 2022 must also be submitted by natural persons who earn income from renting real estate according to Article 9 of the Income Tax Act. In these cases, the employer cannot make an annual tax calculation as for an employee, and therefore it is necessary to fill out a standard four-page tax return together with attachment number 2. Employees who have rental income must request a certificate of taxable income for 2022 from their employer More in the article:
Rent and taxes: How to file a tax return >>>
Investing in a tax return
Income such as interest on cash and account deposits, interest on securities, state-contributed pension benefits, payments from the profits of a trust fund or family foundation, as well as housing savings or pension savings with employer contributions, are not taxed.
You don’t have to worry about taxes even in the case of savings account interest, where the bank directly deducts fifteen percent as withholding tax. Taxes, on the other hand, refer to:
- income from fixed assets (under certain conditions)
- income from the lease of immovable and movable property
- other income (occasional activities or rents, income from the paid transfer of immovable or movable property, income from inherited rights or, for example, winnings from gambling games)
More in the article:
How to tax investments >>>
How cryptocurrencies are taxed
Wondering what’s going on with bitcoin, ethereum, and other cryptocurrencies? The IRS plans to assess unrecognized profits from the sale of bitcoin and other digital currencies more often. At the same time, its tools and expertise are more mature than in 2017 and 2018, when digital currencies first became a mass phenomenon among small investors who often became miraculously rich overnight.
Attention – it is true that if all income of the investor from other sources does not exceed 30 thousand crowns per year, it is exempt from tax, however in the case of cryptocurrencies there are no other exceptions, such as the three-year test for shares, which is used in the Czech tax system. More in the article:
Taxes and cryptocurrencies >>>
