2024-03-27 08:12:17
Self-employed persons must submit tax returns and reports for the health insurance company and the social administration on time, otherwise there is a risk of penalties. The payment of real estate tax can be spread over two installments. In the next installment of the Aktuálně.cz tax series, we will remind you what dates to look out for this year.
The personal income tax return must be submitted to the relevant tax authority within three months after the end of the tax period. This means no later than April 2, 2024, so there is less than a week left to submit the tax return in paper form.
However, if the tax return is filed electronically, the deadline is extended to four months after the end of the tax period, i.e. until May 2, 2024. And if the tax return for self-employed persons is processed by a tax advisor, the deadline is even longer, until July 1
The same deadlines apply for paying the tax as for filing the tax return, i.e. by April 2, May 2 or July 1. If, on the other hand, you incur an overpayment, the tax office has 30 days to return the money. This period begins the day after the last regular deadline for filing returns.
Employees who had to settle their tax obligations with their employer by February 15 will receive overpayments in their wages for March, i.e. in their April paycheck.
When changing insurance companies, you submit two reports
Reports for the health insurance company and the district social security administration must be submitted within one month after the deadline for submitting the tax return. The summaries for the year 2023 must therefore be at the authorities by May 2, June 3 or August 1, depending on when the taxpayer has a deadline for submitting the tax return. The deadline for paying the arrears on social or health insurance is eight days from the submission of the report.
“With the approval of the consolidation package, starting this January, all self-employed persons will pay more for social and health insurance advances than in previous years. There has been an increase in the assessment base for self-employed persons for pension insurance from 50 to 55 percent of the business tax base. This change is intended to bring the amount of pensions closer Self-employed to employee pensions,” NeoTax operations director Nikola Žítková pointed out.
The minimum advance payments for health insurance increased quite significantly this year, by 246 crowns per month. The new minimum advance amount for health insurance from January 2024 is 2,968 crowns, in the case of social insurance it is 3,852 crowns, for the new self-employed it is 3,210 crowns. The minimum monthly deposit for a secondary activity is 1,413 crowns. Advances for self-employed health insurance do not have to be paid for secondary activities. It is mandatory to pay new deposits from January.
Failure to meet the deadline means a fine
People must file a tax return even if they have zero income tax, for example due to a low tax base or after applying tax credits.
In the same way, it is necessary to submit an overview to the social administration even in a situation where social insurance is not paid from secondary self-employment. Such a situation occurs if the gross profit from the secondary activity is up to the limit. Last year the limit was 93,387 crowns per year, this year it is increased to 105,521 crowns. Compared to last year, it is possible to have a higher income and not pay social insurance.
The same applies to the report for the health insurance company – even if the self-employed person does not pay regular advances, because he does not have to for a secondary activity, he must submit the report by the deadline.
Payment of real estate tax
Property tax returns must be filed by people who bought an apartment, house, or plot of land last year. “Also, those who donated, sold or otherwise disposed of immovable property must notify the tax office of this fact. Furthermore, those who made an addition, extension or partially disposed of the immovable property recognized in the past last year, and on the basis of these changes, at the same time, there was a change of type or the size of the land, or the increase of above-ground floors,” the financial administration states on its website.
The tax liability lies with the owner, not the tenant. In the case of co-operative apartments, the tax liability is transferred to the co-operative.
“The tax on real estate has introduced many changes that have been in effect since the beginning of this year. There has been an increase in the rates and coefficients for calculating the tax on real estate. One of the main topics is also the garage – now it is taxed according to the entry in the cadastre, not according to actual use . Even if you use it as a storage room for tools, you need to list it as a garage in your tax return,” explained Žítková.
If you have purchased several properties in different regions, you must file a tax return for each region separately. If you forgot to file your tax return, that’s a problem because it should have been in the office by the end of January 2024.
Penalties are in the amount of 0.05 percent of the amount of tax calculated for each day of delay. The tax authority should notify you of non-fulfillment of the obligation.
The immovable property tax itself is paid by the end of May, in the case of an annual tax of more than five thousand crowns, then in two equally high installments during May and November.