On 14 November 2019, the Ministry of Finance sent a consultation document on the Accounting Act for inter-resort comment procedure. It is expected that the material could be presented to the government in mid-2020.
The Ministry of Finance has presented a legislative draft of the taxation of income from digital services, a so-called “digital tax”, and it has sent it for external consultation.
With regard to the changes in the conditions of cross-border trading with goods in the EU from January 2020, the European Commission has published material with a description of selected aspects of the new rules. The General Financial Directorate (GFD) is finishing its work on the methodological note concerning the VAT treatment of the issuance and distribution of vouchers. What is new at the Court of Justice of the European Union (CJEU)? This and much more is debated in detail in the VAT news for June.
At the end of April 2019, the Ministry of Finance of the Czech Republic announced its intention to introduce a draft bill on taxation of income from digital services by the end of May 2019. The Ministry seeks to start collecting tax on digital services in the Czech Republic in mid-2020.
We would like to draw your attention to an initiative of the Ministry of Finance (MF) which has raised the topic of cryptocurrencies, or virtual assets, and the blockchain technology.
Regardless of the purpose for which digital currencies are used, it is necessary to maintain the appropriate records on those currencies. The Ministry of Finance has issued a long-awaited opinion on digital currency accounting and presentation.
