Increase of tax credit for the 2nd child and other children from 1 July 2021
- Grant Thornton Czech Republic
The Chamber of Deputies has approved an amendment of the act, when the tax credit for two and more children is to increase from 1 July 2021. The amendment being approved reckons with an increase of tax credit for the second, third and further children by 15 %. The tax credit for the first child would remain the same. In article 35c paragraph 1 of the ITA, the amount of “CZK 19,404” will be replaced with “CZK 22,315” and the amount of “CZK 24,204” with “CZK 27,835”.
The change needs to be approved by the Senate as well.