- 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.
Latest Posts in "Czech Republic"
- EU Urges Czechia, Greece, and Slovakia to Fully Implement Key Customs Systems
- ECJ C-796/23 (Česká síť) – Judgment – Managing partner not liable for other partners’ independently provided service VAT
- New Electronic VAT Refund System for Non-EU Tourists Effective January 2026
- Czech Government Proposes Major VAT Reforms Including 0% Rate on Prescription Medicines
- Overview of EET 1.0, Its Abolishment, and Introduction of EET 2.0
