Information from the GFR to increase turnover for VAT registration

GFR has issued Information on the amendment to the VAT Act, which increases the turnover for mandatory registration to 2 million. CZK. The amendment was announced in the Collection of Laws on December 2, 2022, and the transitional provisions will therefore be effective from December 3, 2022.

The date of entry into force of the transitional provisions is important for VAT payers who do not reach the new limit of 2 million. CZK and who are interested in submitting a request to cancel VAT registration (see our earlier alert HERE ). The request for cancellation of registration must be submitted within a very short period of 5 days from the entry into force of the transitional provisions, i.e. by December 8, 2022 .

Source EY

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