Czech Republic Senate Approves Key VAT Act Amendments Effective 2025

• On 11 December 2024, the Czech Senate approved an amendment to the VAT Act
• The amendment allows small businesses to opt for VAT exemption in other EU states
• It aligns with EU law and includes technical updates based on case law and practical experiences
• VAT deduction period is reduced from three years to two years
• Businesses outside the EU can claim VAT refunds based on a new list of eligible countries and must apply electronically
• The bill was sent to the President for signature after Senate approval
• Most new rules start on 1 January 2025, with some measures starting later in 2025, 2026, and 2028

Source: asd-int.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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