VAT News [February 2021]
The Minister of Finance has decided on VAT exemption for respirator supplies for a limited period. However, the VAT deduction is not possible if the supplier delivered these goods to customers including VAT; an…
Higher Interest on Withheld Excess VAT Deduction Can Be Claimed Retrospectively
It has been several months since landmark ruling of the Supreme Administrative Court ref. no. 1 Afs 445/2019-47 which confirmed the entitlement of VAT payers to a 14% interest on excess deduction plus the Czech…
VAT News [January 2021]
The minister of finance announced VAT remission on the deliveries of COVID-19 vaccines and testing kits. Additionally, the minister issued a decision on the remission of interest on VAT arrears with regard to a…
VAT News [December 2020]
The definition of intangible assets will probably change within the framework of the tax package. The VAT rate for municipal waste treatment for further use could be reduced to 15%. The Court of Justice of the …
Prepare your organisation for Brexit
Even though global attention has recently been focused to the coronavirus pandemic, Brexit remains one of the most burning issues for the UK and the European Union. What obligations will be associated with the …
VAT News [November 2020]
What is new in the world of VAT? In its judgement, the Court of Justice of the European Union (CJEU) did not recognise the right to deduct tax assessed from the import of goods, if the importer has no right to …
Extension of the Remission Guidance for Retailers and Service Providers
On Monday, October 26, the Ministry of Finance introduced further tax reliefs through the “Decision on remission of the accrued interest and associated fees and tax advance due to an extraordinary event” publis…
VAT news: tax deduction advance
An amendment to the Tax Code brings a new tax institute effective from 1 January 2021, which allows the payment of a tax deduction advance (“advance”) before the tax deduction is determined, i.e. before a tax a…
VAT News [October 2020]
The minister of finance announced VAT remission on free delivery of selected protective and medical equipment. The Court of Justice of the EU issued a judgment in a case involving the payment of VAT on a free s…