Czech Republic: VAT increase as of 1 January 2013

A number of important VAT changes are (probably) due to take place in Czech Republic on 1 January 2013, including a 1% increase in VAT rates to 15% and 21% respectively. The changes have still to be approved by the respective legislative bodies.

This news was originally posted here.

What does this mean for you?

Any change in the VAT rates in Czech Republic will affect businesses both as suppliers and as customers. Businesses registered for VAT in Czech Republic should therefore keep abreast with the developments and adjust their ERP and eshop systems and invoices accordingly.