Czechia’ Ministry of Finance wants to raise its Value Added Tax registration threshold from CZK 1million to CZK 2million (approx €79,000) from 1 January 2021. This will lift over 100,000 taxpayers out of the VAT regime. The current CZK 1million threshold has been in place
Czech has again postponed the rollout of the VAT domestic reverse charge for all B2B transactions. The Czech Republic lead the campaign of member states seeking to give the greenlight on the use of the reverse charge on domestic goods. This took over five years,
The Czech Republic (Czechia) has recast its reduced VAT rates again from 1 May 2020. This mostly includes reclassifying many goods from 15% to the second reduced rate of 10%. The standard Value Added Tax rate is 21%. The cuts will apply until 16 August
VAT registered business to submit VAT invoice listings with VAT return To help combat VAT fraud, particularly missing trader or carousel fraud, the Czech Republic (Czechia) has introduced Control Statements from 1 January 2016. These require resident businesses to list all sales and purchases each
Euro currency crisis forces tax rises The Czech Republic has increased its Value Added Tax rate from 20% to 21% from I January 2013. It had only increased it to 20% from 19% in January 2010. The reduced VAT rate will also rise from 14%
