Tax & Legal Update
Dealing with the biggest pain of VAT inspections
For a long time, during VAT inspections, honest businesses have mostly feared failing to prove the receipt of supplies from an uncontactable supplier or their supplier’s involvement in VAT fraud without the recipient’s knowledge. A recent Supreme…
Deputies discuss amendment to VAT Act
An amendment to the VAT Act, planned to be in effect from 1 January 2017, is now discussed in its first reading at the chamber of deputies. Its original wording has changed slightly during the external comment procedure.
Starting in December: Proving the origin of assets
An act on proving the origin of assets has passed through the legislative process (321/2016 Coll.) The Senate made the original proposal even stricter by lowering the threshold for proving the origin of income to CZK 5 million. The Chamber of Tax…