Czech Republic: Draft amendment to VAT Act 2025 published
The draft amendment to the VAT Act 2025 was published and will now be considered by the Chamber of Deputies.
Draft amendment to VAT Act 2025 published
The draft amendment to the VAT Act 2025 was published and will now be considered by the Chamber of Deputies.
The draft amendment would:
- Change the rule for determining the tax base when employers provide supplies to their employees (or close persons) for a symbolic price
- Narrow the scope of financial activities exempt from value added tax (VAT)
- Correct the tax base for irrecoverable receivables
- Reduce the time limit for the right to deduct VAT on the basis of a credit note to two years
Read a May 2024 report prepared by the KPMG member firm in the Czech Republic
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.