In this document, procedures related to payment media will be explained, including which kinds of payment, media are applicable in the Czech Republic and what is the case regarding fiscalization of them (especially modern payment media), and whether they need to be sent to the authorities for the authorization purposes or not. Everything is explained and defined in the Czech Act on Registration Sales. Read more

On April 6, 2022, the Council of the European Union amended the EU VAT Directive in relation to the place of supply for live virtual events. In accordance with the amendment, starting from January 1, 2025, 2025, the supply of a live virtual event is taxable in the country where the consumer purchasing the online attendance resides, which means that virtual event providers will need to charge VAT... Read more

As stated by the Customs Administration of the Czech Republic, the obligation to declare and pay excise duty may meet anyone who buys alcoholic beverages from another Member State of the European Union via an online store. Alcoholic beverages purchased in this way are not exempt from excise duty. Read more

The Czech government indicated the possibility of keeping accounting and tax records in euros from January 1, 2024, which should allow companies to pay taxes in euros. This might represent one of the first steps toward the Czech Republic introducing the euro as the official currency. As explained by the Radek Špicar, Vice President at the Confederation of Industry and Transport in the Czech... Read more

Public consultation regarding the proposals of the new amendments to the EU VAT Directive was held up to April 2022. After this consultation, the European Commission (EC) is set to publish a draft of the amendments to the EU VAT Directive this autumn. This will result in the extension of the current One Stop Shop (OSS) to all remaining cross-border B2C transactions and some B2B transactions. The a... Read more

In July 2021 new VAT system for online shopping came into force, whose main aim was to simplify cross-border e-commerce and introduce greater transparency for EU shoppers when it comes to pricing and consumer choice. In addition to this, these new rules were put in place to combat VAT frauds and to ensure a more level playing field for all businesses. After 6 months after the implementation of the... Read more