Czech Republic VAT Law Amendment: Changes to Construction Sector Treatment and Exemptions

Draft amendment to VAT law in Czech Republic includes changes to treatment of construction sector
Definitions of buildings for housing and social housing purposes clarified
Elimination of concept of internally produced fixed assets for full VAT deduction
Supply of selected real property exempt from VAT with new definition of “substantial change”
Changes related to real property include application of standard VAT rate for changes in building purpose
Right to deduct VAT when registering for VAT expanded to include assets put into use after registration
Possibility to claim deduction on supplies received by non-VAT payer before registration for VAT

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.