- In 2025, the Czech VAT Act was amended to require taxpayers to adjust input VAT deductions for unpaid invoices after six months. Effective from 1 January 2025, debtors must correct VAT deductions for taxable supplies completed from this date if the related receivable remains unpaid or partially paid by the end of the sixth month after the due date. The tax authorities issued guidance on 27 June 2025 on reporting these adjustments, which become reportable in July 2025, and how to proceed if payment is made after the adjustment.
Source: fintua.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.
Latest Posts in "Czech Republic"
- Czech Republic to Launch EET 2.0 Real-Time Revenue Reporting from 2027 for Enhanced Tax Compliance
- EU Court Clarifies VAT Deduction Timing When Invoice Received After Taxable Supply but Before Filing
- EET 2.0: New Cash Register Rules, Exemptions, and Benefits for Businesses and Employees from 2027
- VAT Rules for Real Estate Sales: Substantial Changes, Social Housing, and Taxation Options Explained
- EGC VAT T-53/26 (Central Europe Mark) – Questions – Examination of Tax Neutrality and Proportionality in Securing VAT Payments Without Interest Compensation
