- The Czech Ministry of Finance released draft guidance on floor area calculation for VAT.
- This is in preparation for real estate VAT changes under the 2024 consolidation package.
- The changes will be effective from 1 July 2025.
- The 2024 consolidation package introduced major tax legislation changes effective from 1 January 2024.
- VAT rates will change to a single reduced rate of 12 percent, replacing the previous rates of 15 percent and 10 percent.
- The Czech Republic will have two VAT rates: a standard rate of 21 percent and a reduced rate of 12 percent.
- Real estate tax will increase, and from 2025, an inflation coefficient will adjust property tax annually for inflation.
Source: regfollower.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.
