Government approves increased tax credit for families with two or more children

The government on Thursday agreed to increase tax credits for parents with two or more children. Next year, parents will be able to deduct more from their tax for second and third children. At present, parents get an annual tax credit of 13.400 crowns for the first child, 17,000 crowns for a second child, and 20,600 crowns for every subsequent child. In 2017, parents will be able to deduct 2,400 crowns more from their tax returns for a second child and 3.600 crowns more for every child thereafter.

Author: Ruth Fraňková