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Czech Republic: Changes to application of VAT to real property

In connection with the amendment to the “Construction Act,” an amendment to the value added tax (VAT) law changes the definition of family houses and apartment buildings, to have a broader definition from 1 July 2023. This change will primarily affect the determination of the correct VAT rate for construction work on a completed building for housing and social housing or for the construction and delivery of a building for social housing. It will also affect the fulfilment of the conditions for exemption from VAT of the delivery or lease of real property.

Source: kpmg.com

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