Czech Republic: Penalties for VAT ledger statements; other VAT developments

Czech Republic: Penalties for VAT ledger statements

The KPMG member firm in the Czech Republic has prepared a report discussing the following VAT items.

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Related content

  • Draft information on VAT Act amendment: The Chamber of Deputies approved a tax package referred back to it by the senate in its original “chamber” wording. In particular, the deputies dismissed the senate’s motions to amend VAT on real property. In compliance with a general rule prescribed by the Act on the Collection of Laws, the law will become effective on the 15th day of its publication in the Collection of Laws. The government may delay its publication so that the law will enter into effect on 1 July. The General Financial Directorate (GFD) is currently preparing information on amended VAT areas, and asking the Chamber of Tax Advisors to provide comments. Read the April 2017 report 

  • Penalties for VAT ledger statements: The GFD is expanding options to waive penalties for failing to file VAT ledger statements, or for their late filing, amounting to CZK 10, 30 or 50 thousand. It will be possible to waive up to two penalties for 2016 irrespective of the cause of default; in 2017, only one penalty can be waived. Read the April 2017 report

  • Export of goods: A contribution submitted by the Chamber of Tax Advisors for discussion in the coordination committee with the GFD proposes clarifying that the date of supply stated in the tax document upon an export of goods should be the date goods were delivered or when they physically left the EU territory. The submitters also propose that the export of goods be reported in a VAT return for the period in which the goods were delivered to the buyer. Read the April 2017 report

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