The research and development (“R&D”) allowance is a tax allowance that can reduce an organization’s corporate income tax base. R&D activity differs from other common business activities by the presence of an appreciable element of novelty as well as research and technical uncertainty. But the fact that the element of novelty and research and technical uncertainties are not sufficiently defined in Czech legislation was confirmed by the Supreme Administrative Court back in 2015 (decision no. 10 Afs 24/2014-119 dated 11 June 2015). The Supreme Administrative Court also stipulated that correct application of these concepts may change depending on circumstances.

With the deadline for filing personal income tax returns approaching as early as 1 April 2022 for paper filing and 2 May 2022 for electronic filing, many taxpayers may be wondering how to handle the taxation of cryptocurrency income.