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Czech draft bill on digital tax: What’s in?

On 18 November 2019, the government approved a draft bill on the digital services tax. The draft of the new bill is being sent to the Chamber of Deputies of the Czech Republic and the legislative process of its passing has thus begun. The government expects the bill to come into force in the course of next year and the new tax will be collected from transactions that will be performed after the bill has taken effect, i.e. starting from the fifteenth day after its promulgation. This is a very short implementing deadline, which does not give taxpayers much time for possible adjustment of systems. We therefore recommend dealing with this tax and its potential effects as soon as possible.

More informaton at source: fucik.cz

Contribution by Stepan Osicka, tax partner