Czech Republic 2017 Changes to the VAT Law

Sovos
June 23, 2017

In April of 2017, the Parliament of the Czech Republic passed legislation that made important changes to the Republic’s Value Added Tax (VAT) Law. The act was then published and codified on June 16th, 2017 in the Collection of Laws, as part of publication 170/2017, seen here.

Of the changes, the most notable is the expansion of the temporary reverse charge mechanism to include any remaining categories of supplies that are allowed under the EU VAT Directive (Council Directive 2006/112/EC). This includes use of the reverse charge when providing workers for construction or installation work, and when supplying goods as a security for realization of a warranty. These additions will be codified in the Czech VAT Act under sections 92e and 92ea. For more information, please see the original language found in the codified amendment.

 

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Sovos

Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
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