On 26 January 2011, the Czech Senate held a vote on the amendment to the VAT Act that is expected to take effect on 1 April 2011. The Senate made changes to the amendment and sent it back to the Chamber of Deputies.
If the Chamber of Deputies approves the bill prepared by the Senate, VAT payers will be able to claim input VAT from local supplies if they have available the related tax document (i.e. a VAT invoice) by the end of the statutory deadline for filing a VAT return. The version originally approved by the Chamber of Deputies stipulated that the tax document should be available at the end of the relevant taxable period for which the VAT return is filed.
We will keep you informed of any further developments.
Tomas Seidl, Partner
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