In the package, the government mainly removes tax exemptions we all are used to. Most of its provisions are to come into effect on January 1, 2024.

Here is the list of the principal news you might be affected by:

• Limitation of the tax write-off of a personal car used for business purposes to 2 mills. CZK
• Still wine provided as a gift will no longer be tax-deductible
• Cancellation of a student and kindergarten discounts
• Deduction for a non-working spouse only if taking care of a child under 3 y/o
• Corporate income tax rate will increase from 19 % to 21 %
• Threshold for applying the 23 % personal income tax rate reduced to approx. 1.6 mills CZK
• Gradual growth of social insurance for freelancers between the years 2024 – 2026
• Limitation of tax-exempt income from the sale of shares to 40 mills CZK