VAT

Tax 

Changes relating to customs guarantees for temporary storage and special customs procedures – VAT will no longer be secured

On 15 March 2019, the President of the Czech Republic signed an act amending certain tax laws (the “tax package”). The package includes the long-awaited amendment to the Customs Act providing guidance on securing customs debts relating to temporary storage and special customs procedures (except for the transit procedure). The news is that the customs authorities will no longer require that the customs guarantee covers VAT. 

20. 3. 2019
Tax 

VAT news – March

The Ministry of Finance of the Czech Republic has started working on the transposition of the EU Council’s Directive and Regulation that substantially amend the terms of cross-border trade in goods within the EU. In case C-647/17 Srf Konsulterna, the Court of Justice of the European Union upheld that in respect of the provision of multiple-day accounting courses for the general public, the place of supply is the venue where the event takes place. For more information, read the March VAT news. 

19. 3. 2019
Tax 

VAT Act Amendment

On 4 December 2018, the Chamber of Deputies debated an amendment to the VAT Act. A series of motions to amend the Act were presented (which are likely to be subsequently voted on during the course of January) and we specifically draw attention to the proposal to retain the current VAT treatment of payments made to statutory executives and members of statutory bodies and the proposal to temporarily retain the current definition of a finance lease of goods (through the end of 2019). 

6. 12. 2018