- Ministry of Finance submitted a draft amendment to the VAT Act to the government of the Czech Republic
- The proposed changes reflect European directives and ECJ judgments
- Key changes in the draft amendment for 2025 include:
- Shortening the deadline for claiming tax deduction from three to two years
- Extending the deadline for correcting the tax base from 3 to 7 years
- Requiring repayment of tax deduction for unpaid debts after 6 months
- Changes in VAT related to real estate transactions and leases
- Applying VAT on discounted employee benefits
- Changing the registration limit for VAT from a rolling 12-month period to the start of the calendar year
- Introducing a special regime for small businesses in other EU member states, exempting them from VAT obligations if their turnover does not exceed 2,000,000 CZK
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.
