The Czech tax office recently published certain legislative amendments to the Czech VAT rules, which are generally effective as of 1st April 2019 and provide for the following changes:
- Simplification measures regarding place of supply for electronically supplied services for small businesses (telecommunications services, radio or television broadcasting services or other electronically supplied services) to non-taxable persons in other EU Member States;
- Clarification regarding the definition of a voucher and the identification of a single-purpose and multi-purpose voucher;
- Clarification regarding the rules on providing tax documents (tax invoices), including new deadline for issuing debit and credit notes;
- Explanation and adjustments of some terms: “financial leasing” (adjustment to be implemented with 1st of January 2020) and the understanding of the “usual price”;
- Changes to the VAT bad debt rules.
If you believe you are affected by the above developments and would like some further advice, please do get in touch.