Amendment to the Act on Income Taxes

Act No. 247/2002 Coll. amending and supplementing the Act No. 366/1999 Coll. on Income Taxes, as amended

This Amendment (the ''Amendment'') supplements the current wording of the Act No. 366/1999 Coll. on Income Taxes, as amended, pursuant to which incomes from state budget grants are tax-exempt only for taxpayers that conduct business activities in an agricultural production or forestry or water management and are legal entities. This status discriminated the taxpayers - individuals that also conduct business activities in an agricultural production or forestry or water management and have incomes from the state budget grants. The Amendment eliminates the stated discrimination.

Furthermore, the Amendment also enables the taxpayers - legal entities to transfer 1% of the paid tax for public services in the same way as it is now applied with individuals. Unlike the taxpayers being individuals, the legal entities may transfer such 1% not only to one legal entity - recipient, but also to several legal entities that fulfilled requirements stipulated by the Act. The minimum amount of a contribution provided by a legal entity is SKK 250.

This Act came into force on 1 January 2003.