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Waiver of Interest on Taxes Deferred Due to Floods

In connection with the floods in the autumn of 2024, taxpayers (both individuals and legal entities) whose personal or business property was affected by the floods were allowed to file a request to defer tax payments. We informed you about the relief measures of the financial administration related to the floods HERE.

The later payment of deferred taxes is usually associated with the obligation to pay late payment interest for the period during which the tax was deferred. However, the Minister of Finance has now issued a general pardon, which completely waives the interest on all tax payments that were deferred according to the flood relief measures.

Until now, interest could be waived by individual tax offices in specific cases. However, taxpayers had to submit a request with justification for each individual case, and the waiver of interest might not have been granted in full. The general pardon is intended to eliminate the administrative burden associated with submitting requests and to allow the automatic waiver of the entire interest for all eligible taxpayers.

If you have already been granted a partial waiver of interest on deferred tax payments, we would be happy to discuss with you how to proceed further.

If you have any questions, please do not hesitate to contact the authors of the article or the EY team with whom you collaborate.

Authors:

Martin Novák

Jiří Dienstbier