Changes in VAT for 2025: New law signed by president, key amendments explained.

• The law proposal was signed by the president on 18.12.2024 and the law was approved and published in the Collection of Laws under number 461/2024 Sb on 23.12.2024
• Changes in VAT have been announced by the General Financial Directorate with reference number 82973/24/7100-30116-051722
• Changes include thresholds for VAT registration, exemptions for certain activities, and a regime for small businesses
• Virtual participation in cultural, entertainment, educational, and sports services will now be considered at the recipient’s location
• Services provided to non-taxable persons in third countries will have the place of supply in the Czech Republic under certain conditions
• The deadline for claiming VAT deduction has been reduced to 2 years, with a new starting point from 1.1. of the following year
• Invoices must now include the due date, and if payment is not made within 6 months, the deduction must be reduced, but can be claimed again if payment is made later
• Assets created through own activities are subject to specific regulations

Source: pkfapogeo.cz

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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