Czech Republic Clarifies Input VAT Deduction Rules for Long-Term Assets Effective January 2025

• Clarified input VAT deduction procedures for long-term asset acquisitions, including partial deductions.
• Incorporated the EU cross-border regime for small enterprises, prohibiting input VAT deductions for supplies used in other EU countries.
• Input VAT deductions must be claimed by the end of the second calendar year after the relevant year, for claims from Jan. 1, 2025.
• Allowed input VAT deduction for taxable supplies added to fixed assets, acquired within 60 months before VAT registration.

Source: news.bloombergtax.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.

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