Did you buy property in 2018?

On January 31, 2019, the deadline for submission of the real estate tax return for 2019 will expire. This obligation arises not only for those who became new property owners in 2018, but also for those who have made changes to their properties resulting in the change of "circumstances decisive for tax assessment", typically completed an extension or otherwise changed the floor area of their property.

The submission can be made in paper form, but those who have a data box are obliged to submit it electronically, otherwise a fine of CZK 2,000 is imposed.

Those who are late in submitting the tax return may expect a fine of 0.05% of the declared tax liability for each day of delay, beginning on the sixth working day after the deadline for submission, i.e. this year as of 8 February 2019. The fine for the late submission of the tax return is not assessed if its amount does not exceed CZK 200.

Currently, however, no late payment interest is imposed to taxpayers at the moment. The calculated tax is payable until May 31, 2019. Should its amount exceed CZK 5 000, it can be paid in two installments, the latter until November 30, 2019.

However, those who no longer own any property because they sold or donated it in 2018 may also have some obligations. Such a step will have to be officially notified to the tax administrator. Similarly to the tax return, who has a data box must also make this alert using it.