Increase of tax credit for the 2nd child and other children from 1 July 2021

Published:
1. June 2021
Author:
  • 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”.

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The change needs to be approved by the Senate as well.

Author: Grant Thornton Czech Republic