Companies must reverse VAT deductions on unpaid invoices after six months, affecting cash flow and compliance. This rule applies to transactions from January 1, 2025, with exceptions for reverse charge supplies. Late payments allow VAT reclamation within two years. Accurate record-keeping is essential for partial payments and offsets, as they impact the adjustments. Companies face a new VAT rule r... Read more

The European Commission has approved modifications to modernize the VAT system, including mandatory electronic invoicing and digital reporting for cross-border transactions, VAT application in the platform economy, and VAT registration extension Aiming to lower administration and capture the risk of VAT fraud in the digital economy, changes have been approved at the EU level. A number of modifica... Read more

The Czech VAT Act No. 235/2004 Coll. regulates the taxation of goods, services, intra-Community transactions, and imports, setting out who is liable for VAT and when it becomes chargeable. It establishes the standard and reduced VAT rates, along with exemptions for areas such as education, health care, financial services, international transport, and supplies for diplomatic missions or vessels. Read more

The Czech Consumer Protection Act guarantees consumers clear rights regarding product information, pricing, labeling, advertising, and non-discrimination, while obligating sellers to provide accurate details, receipts on request, and proper warranty handling. It also regulates unfair commercial practices, sets minimum warranty periods, and ensures consumers can seek repairs, replacements, refunds, or price reductions when goods are defective. Read more

Have you experienced a consumer problem which you don't know how to deal with? The following guide can help you find answers to the most frequent questions concerning consumer law. They can help you find your way through your rights and obligations as a consumer or a trader. Read more

Have you experienced a consumer problem which you don't know how to deal with? The following guide can help you find answers to the most frequent questions concerning consumer law. They can help you find your way through your rights and obligations as a consumer or a trader. Read more