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Introduction of several changes to the CZ VAT Act per Jan 1, 2025

  • Introducing two thresholds for CZ VAT registration: CZK 2,000,000 for which the taxable person becomes CZ VAT payer from the first day of the following year; and CZK 2,536,500 for which the taxable person becomes CZ VAT payer from the following day.
  • Implementation of special scheme for small enterprises.
  • Shortening the period to claim input VAT deduction from 3 years to 2 years.
  • Extending the period to obligatory correction of tax base for taxable supplies from 3 to 7 years.
  • New obligation to reimburse input VAT deduction on unpaid liabilities after 6 months.
  • New obligation to apply open market value for the supply of immovable property between employer and employee.

Source Leitner & Leitner

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