Czech Republic to introduce a new reduced VAT rate of 10% | Meridian.
The Czech government proposed a law that would introduce a new reduced VAT rate of 10%. This will come into place on 1 January 2015. The standard VAT rate of 21% and the reduced VAT rate of 15% will remain the same. The Czech Senate approved this on 23 October 2014. This will become law when the bill is signed by the president.
The new reduced VAT rate of 10% will be for certain goods and will not apply for medical supplies or printed media. However it will apply to books, baby nutrition and pharmaceutical goods.
