Czech Republic: Changes in VAT from 1 January 201

The proposed amendment introduces the monthly VAT taxation period as the primary one for all taxpayers with a registered office, place of business or establishment in the Czech Republic. Existing payers meeting the conditions for the quarterly VAT taxation period in 2013 may decide whether to opt for the monthly period or to keep the quarterly period. New payers may opt for the quarterly period subject certain conditions stipulated by law (for instance turnover under CZK 10,000,000.00), but not earlier than in the third calendar year following their VAT registration.

The amendment aims to reduce the administrative burden connected with issuing electronic tax documents. Thus, an electronic signature will no longer be required. However, customers will also have to agree to the electronic form of the invoice. At the same time, the terms “authenticity of origin, integrity of content and legibility” are explicitly defined as essential requirements that tax documents (whether in paper or electronic form) have to meet at the time of issue and over their entire archiving period.

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