Czech Government Approves Amendments to Recovery Package – Merger of the 10% and 15% rates into a rate of 12%

VAT aspects:

• Merger of the 10% and 15% reduced rates of VAT into a single reduced rate of 12%
• Allowing companies to keep accounts in a foreign currency from 1 January 2024, including in EUR, USD, and GBP, with companies allowed the option if most of their transactions are in a given foreign currency
• Establishing that printed newspapers will be subject to the reduced VAT rate of 12%, as will magazines