Information from the Ministry of Finance

The Ministry of Finance of the Czech Republic published information on application of the VAT Act to the construction industry after 1 January 2008 to its web site on 23 April 2008. The document introduces the Ministry’s interpretation of the terms used in the VAT Act in connection with taxation of construction work and also provides information on how to tax construction, transfers and leases of land, structures, apartments and non-residential premises. The information applies to legislation effective since 1 January 2008.