Proposed Changes to CZ VAT Act: Thresholds, Small Enterprise Scheme, and Input VAT Deduction Updates

• Changes to the CZ VAT Act as of 1 January 2025
• Introduction of two thresholds for CZ VAT registration
• Implementation of special scheme for small enterprises
• Shortening the period to claim input VAT deduction from 3 years to 2 years
• Extending the period for obligatory correction of tax base for taxable supplies from 3 to 7 years
• New obligation to reimburse input VAT deduction on unpaid liabilities after 6 months
• New obligation to apply open market value for the supply of immovable property between employer and employee

Source: info.leitnerleitner.com

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.

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