Tax News: 2008/11, No. 7  rss

Newsletter: Tax News – 2008/11, No. 7
Search Results Total: 4 / Displayed: 1–4

Notification of Finance Ministry on Standard Classification of Production to allocate services for application of reduced VAT rate as of 1 January 2008

Tax News   20. 11. 2008 Link

The Czech Statistical Office superseded the Standard Classification of Production by Production Classification (CZ – CPA) with effect from 1 January 2008. The Finance Ministry announced that for the purposes of the VAT Act, the Standard Classification of Production valid from 1 January 2003 shall continue to be applied. This classification shall be further binding for allocation of services after 1 January 2009.

New form for VAT returns

Tax News   20. 11. 2008 Link

From 1 January 2009, a new form shall be valid (No. 25 5401 MFin 5401, sample No. 15) for value added tax returns. The new form, in comparison with the existing four-page form, only has two pages. Services rendered outside the Czech Republic shall newly be monitored and reported separately. Besides renumbering individual lines in the tax return, the form includes new lines in connection with the most recent amendments to the VAT Act. The form is to be first used for the taxation period of January 2009 or first quarter of 2009.

Amendment to VAT Act and Excise Tax Act

Tax News   20. 11. 2008 Link

The Chamber of Deputies had a first reading of the governmental proposal to amend the VAT Act and the Excise Tax Act, which has been proposed to take effect from 1 December 2008.

Proposal for amendment of Tax Administration and Collection Act and new Tax Rules

Tax News   20. 11. 2008 Link

An amendment to the Tax Administration and Collection Act is now at the Chamber of Deputies awaiting a third reading. The proposed amendment amends the rules for imposing sanctions for infringement of confidentiality obligations and introduces a suspensory effect should additional payment assessment be issued after completion of a tax inspection.

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