- Changes in VAT from 2025 include extending deadlines for tax base corrections, new limits for VAT registration, simplifying procedures for uncollectible receivables, and adjustments in real estate transactions
- Deadline for tax base corrections will be extended from 3 to 7 years, starting from the end of the calendar year in which the original supply was made
- Former VAT payers will be able to make tax base corrections even after they are no longer VAT payers
- Simplified procedure for uncollectible receivables under 10,000 CZK, where a corrective tax document can be issued after 6 months past due date
- Shortened deadline for correcting higher uncollectible receivables, such as being able to correct tax base a year after the first enforcement order
- Ability to correct tax base for unsecured receivables not included in enforcement or insolvency proceedings if debtor is unable to pay
- Turnover and mandatory VAT registration limits from 2025 will be based on calendar year, with thresholds set at 2 million CZK and 2.536 billion CZK
- All changes will apply to supplies made after January 1, 2025.
Source: eurofiscalis.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
