Obligation to Correct VAT Deductions on Unpaid Invoices Effective January 2025

As of January 1, 2025, a VAT Act amendment requires correcting VAT deductions on unpaid invoices if not paid within six months of the due date. This applies to domestic supplies. If a deduction was claimed and the invoice remains unpaid, the deduction must be corrected and the VAT returned. If the invoice is later paid, the deduction can be reclaimed. Quarterly payers need not correct if payment is made within the same period. Monitoring due dates and payments is recommended to ensure compliance.

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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