Income tax Every earning citizen of the Czech Republic pays income tax: every employee, sole trader, lessor, or company owner. For a long time income tax has been the second most important tax revenue for the state budget. Income tax shares second place with excise tax. Of course, value added tax is for these two taxes the unrivalled king of tax revenue. That’s why these three favourites are most frequently subject to inspections from the state authorities. It is therefore necessary to take good care of this tax triumvirate, and to do so before the tax inspectors come knocking at your door. What can you do for peace of mind? Get the experts from our office to prepare your income tax return. Have us check or newly configure financial flows that generate tax savings within the framework of current Czech legislation. Consult a professional about how to document expenses you plan to consider tax deductible: in other words, expenses for attaining, securing and maintaining your income. Many a company underestimates the importance of tax preparedness and finds itself unpleasantly surprised as an inspection from the Tax Office commences. One good reason to invite a tax advisor to your firm is the fact that tax advisors are insured by law and liable for the consequences of their work. If time proves that they have made a mistake, any taxpayer penalised for such a mistake has the right to claim compensation from his or her tax advisor.