Mazars VAT Alert - March 2019
What is coming in the 'Spring' technical amendment to the VAT act? Read the article from our tax experts and in case of any questions do not hesitate to contact them.
On 12 March 2019, the technical amendment to the VAT Act was passed by the Chamber of Deputies as part of the 2019 ‘Tax Package’. The version of the approved amendment did not include the amendment proposals from the Czech Senate. The amendment approved by the Chamber of Deputies was signed by the President of the Czech Republic on 15 March 2019, and therefore a vast majority of the provisions from this amendment will come into effect on the first day of the month following its publication in the Collection of Laws. It is expected that this date will be 1 April 2019.
The amendment contains some provisions that come into effect on the day it is announced in the Collection of Laws (e.g. the new VAT perspective on handling vouchers and the application of the place of supply for services provided electronically) and some that will not come into effect until 2020 or 2021 (e.g. limits on financial leasing, the submission of identified entities, changes in the area of leases). In this material, we will only be looking at changes in the area of VAT that will be coming into effect in the spring of 2019.
Other significant changes are planned in the area of VAT in the coming years, and thus we recommend following news from the area of VAT carefully. You can read all about the important changes, and not only from the area of VAT, in our bimonthly Mazars tax view.
If you have any questions on the new amendments in the area of VAT, please do not hesitate to contact one of our VAT experts.