Companies compiling financial statements for a period beginning on 1 January at the earliest and ending on 31 December 2021 at the earliest now have the option to publish their financial statements through the relevant tax authority by submitting tax return. The new disclosure option is provided for in article 21b of Act No. 563/1991 Coll., on Accounting.

The filing with the tax administrator must include information on the extent, to which the financial statements are to be submitted to the registry court, and the financial statements must also be filed in the prescribed electronic form and in the format and form prescribed by the Code of Tax Procedures.

This method of disclosure is not possible for accounting entities that are not commercial corporations and also for example for companies subject to mandatory audit (because they also compile an annual report).

Thus, this option will mainly be intended for smaller companies not subject to audit.