Dictionary of terms

Contribution paid to life insurance – itemized deduction from the personal income tax base

The taxpayer is entitled to reduce his tax base by the amount of his/her contribution to private life insurance. The maximum…

Contribution paid to pension insurance – itemized deduction from the personal income tax base

The taxpayer can reduce his/her tax base up to 24 000 CZK annually for his/her contribution to: supplementary pension…

Loan interests paid – itemized deduction from the personal income tax base

The taxpayer has the option to reduce his/her tax base by the interest paid on a building savings loan or mortgage in a tax…

The membership fees paid to trade unions – itemized deduction from the personal income tax base

The taxpayer is entitled to reduce his tax base by the amount of membership fees paid to trade unions in the tax period.…

Donations provided – itemized deduction from the personal income tax base

The taxpayer is entitled to reduce his tax base by the amount of gratuitous performance, if the value of these exceeds 2 % of…

The tax credit on personal income tax for a dependant spouse

The taxpayer of personal income tax can apply for a tax credit for a dependant spouse in the maximum amount of 24 840 CZK for…

Tax credit for a dependant child

The taxpayer has the right to apply for a tax credit for a dependant child living in the same household as the…

Tax credit on personal income tax for studies

The taxpayer can apply for the tax credit on personal income tax for the period of his/her full-time studies or training up to…

Tax credit on personal income tax for placing of a child in a preschool facility

The amount of the tax credit is based on the taxpayer´s provably paid expenses for placing a dependant child in a preschool…

Tax credit on personal income tax for invalidity and retirement pension

The taxpayers of personal income tax who have been granted the invalidity status are entitled to the basic and enhanced tax…