3 February 2020
The Czech Republic will delay the introduction of the generalised reverse charge mechanism (GRCM) on domestic supplies undertaken in the country until at least January 2021.
The GRCM was allowed by the European Union in an effort to combat VAT fraud and allows EU member states most severely affected by fraud to apply a GRCM to transactions above a value of €17,500.
For full detail of how the GRCM works, please refer to our previous article here.
Find out more about VAT in Czech Republic
LATEST NEWS
Emergency VAT measures to combat the financial impact...
Due to the negative financial impact that the Coronavirus pandemic is having on businesses all over the world, a number of tax authorities have implemented...
SEE MORE
LATEST NEWS
UPDATE: EU warns 14 member states on delay in...
The European Commission (EC) has issued formal notice letters to 14 European Union (EU) member states, warning them on their failure to implement the four...
SEE MORE
LATEST NEWS
France relaxes conditions for Import VAT Postponed...
From January 2021, France will drop all requirements on businesses who are entitled to use the Import Value-Added Tax (VAT) Postponed Accounting regime in the...
SEE MORE