Czech Republic Lower House Considers Bill to Amend Income Tax Act

The Czech Chamber of Deputies March 3 accepted for consideration Bill No. 120/0, to amend the Income Tax Act. The bill includes measures to: 1) change the basic tax credit for individual income taxpayers into a tax benefit capped at the amount of social and health insurance premiums paid; 2) allow only taxpayers with income from dependent activities to claim the tax benefit in the form of a bonus; 3) allow taxpayers to claim the tax advantage for a dependent child only if, in the tax period, they had specified income from dependent activities or certain other activities of at ...