30 April 2015
The Financial Administration has published official guidance on the application of the new 10% VAT rate which came into effect from 1 January 2015. This new VAT rate applies to children’s food, medicines and books (among other things). The tax authority has published guidance on the extension of the local reverse charge mechanism, which took effect from 1 April 2015. As per our previous newsletter, the extended regime will include mobile phones, integrated circuits such as microprocessors and central processing units, portable automatic data processing devices (such as laptops or tablets) and video game consoles, where the value of the supply exceeds CZK 100,000.