Czech Republic approved VAT changes

The Czech parliament has recently approved previously reported VAT changes to enter into force in 2017. We highlight the new mechanism to be applied to unreasonable delays concerning the 7 refunding of VAT. Late payment interest will be due if, notably the following conditions are met: If excess VAT paid has not been refunded within 4 months succeeding:

  • The last day of the deadline for filing the VAT return; or
  • The actual day of the VAT return filing if occurring after the legal deadline.

Interest will be based on the Czech National Bank´s rates and will not be accounted/due while certain administrative