On 1 January 2023, the annual turnover threshold for an entrepreneur to be required to register for VAT purposes in the Czech Republic will double, increasing from CZK 1 million to CZK 2 million (about EUR 80,000+). The current threshold was introduced in 2004 when the Czech Republic became an EU member state and has never been updated despite increases in the amount over the past 18 years. A higher threshold of EUR 85,000 will be permitted throughout the EU as from 1 January 2025, although the Czech Republic was granted a derogation to apply the higher threshold as from 2023.
Source BDO
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