Tax package: changes in tax depreciation / amortisation charges from 1 January 2021
The tax package, or, more precisely, Act No. 609/2020 Coll., was published in the Collection of Laws of the Czech Republic on 31 December 2020, coming into effect on 1 January 2021. In December 2020, its effectiveness was affected by a dispute whether or not President actually vetoed the Act by refusing to sign it, and, as a result, the opposition is considering lodging a constitutional complaint with the Constitutional Court. Whatever the result of this political debate, if we proceed from the effective date of 1 January 2021, the tax news of 2021 already have to be taken into consideration because it is a very current topic, especially in the area of tax depreciation / amortisation charges, which can be utilised retrospectively from 1 January 2020 under specific conditions in line with the transitional provisions. As part of the fight against the coronavirus crisis, the tax package brought three changes in the area of tax depreciation / amortisation, which we will cover in this article.