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Windfall Profits Tax and Czech Statistical Office update on classification of activities

The General Financial Directorate (GFD) published on its website an updated opinion of the Czech Statistical Office on the issue of classification of certain economic activities according to the CZ-NACE classification for the purposes of the windfall profits tax (more details HERE and HERE).

The update concerns the classification of certain activities - for example, the sale of fuel using fuel cards.

The GFD suggests that the previous version may have been confusing for some fuel card issuers - in which case the taxpayer should not be subject to penalty consequences for failing to file a notification on fictitious tax, nor to retroactive assessment of advances - i.e., such taxpayer should not be held liable for having followed the originally published classification of the activity in meeting its windfall profits tax obligations to date. However, a taxpayer is obliged to file a windfall profits tax return for the 2023 tax year within the statutory deadline and to pay the claimed tax liability in a timely manner if, according to its economic activity classification when applying the updated opinion, it is a taxpayer for that tax.

If you have any questions, please contact the authors of this article or the EY tax team with whom you regularly work.

Authors:

Lucie Říhová

Karel Hronek