- The law proposal was signed by the president on 18.12.2024 and the law was approved and published in the Collection of Laws under number 461/2024 Sb on 23.12.2024
- Changes in VAT have been announced by the General Financial Directorate with reference number 82973/24/7100-30116-051722
- Changes include thresholds for VAT registration, exemptions for certain activities, and a regime for small businesses
- Virtual participation in cultural, entertainment, educational, and sports services will now be considered at the recipient’s location
- Services provided to non-taxable persons in third countries will have the place of supply in the Czech Republic under certain conditions
- The deadline for claiming VAT deduction has been reduced to 2 years, with a new starting point from 1.1. of the following year
- Invoices must now include the due date, and if payment is not made within 6 months, the deduction must be reduced, but can be claimed again if payment is made later
- Assets created through own activities are subject to specific regulations
Source: pkfapogeo.cz
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.
