The Czech Republic has applied for the introduction of a generalised reverse charge system, which will apply to all supplies of goods and services in the Czech Republic worth over 17,500 euros (approx. 450,000 CZK). In such cases, the obligation to declare VAT will automatically be shifted from the supplier to the customer. The possibility of introducing this measure in local legislation is subject to compliance with the entry criteria stated in the Council Directive and to the final approval of the EU Council. If the Czech application is approved, the MoF estimates that changes to the Czech VAT Act will be effective starting from 1 July 2020 and lasting until June 2022.
Source Michaela Merz
Latest Posts in "Czech Republic"
- New VAT Rules for Real Estate Sales 2025: Limits and Mandatory Registration
- New VAT Rules for Real Estate Sales: Key Changes Effective from 2025
- ECJ Upholds Czech Joint VAT Liability in Fuel Fraud Case, Validates EU Law Compliance
- Obligation to Correct VAT Deductions on Unpaid Invoices Effective January 2025
- Czech Republic Enacts New VAT Rules for Unpaid Invoices Starting January 2025
