- From January 2024, the Czech Republic will implement a single reduced tax rate of 12% for selected goods/services and introduce a new exemption for the supply of books and similar publications. The General Financial Directorate has issued information summarizing the application of the correct VAT rate and clarifying some problematic issues, particularly regarding the application of the rate to beverages.
- The amendment also introduces a limit on VAT deduction for the purchase of passenger cars of the M1 category, with additional information expected to be issued soon.
- Another separate amendment revises the rules for determining the date of the taxable event on the supply of electricity, gas, heat, cold, or other energy performance, allowing producers or distributors to pay VAT later than under the current rules.
Source Deloitte
