375,000 TAX PAYERS SUBMITTED A TAX RETURN FOR THE YEAR ENDED 31 DECEMBER 1995
According to information provided by the Central Tax Authority in Banska Bystrica, a 1995 income tax return was submitted by more than 334,000 physical and more than 40,000 legal persons.
As of 1 April 1996, the Tax Authorities had approved 1,781 extensions for physical persons and 1,413 extensions for legal persons.
The most common reasons which were provided by the tax subjects when requesting extensions were long term disease, the statutory representative or the person responsible for accounting were not present, documents were stolen, damaged or lost, transformation of the company from a state owned into a private one, technical problems with accounting and software infected by virus.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Richard Fletcher, Arthur Andersen Prague, tel +42 2 2440 1300, or enter a text search 'Arthur Andersen' and 'Business Monitor'.
