Draft Amendment to the VAT Act
The most significant changes are as follows:
- The tax may be reduced if the taxpayer applies a wrong rate or tax exemption.
- Adjustment to definition of turnover – the operating business should be the decisive criterion for inclusion into turnover and not the manner of accounting on a particular transaction.
- The accounting terms “revenue” and “income” should be replaced by the term “fee” (or “consideration”) due to the said adjustment to definition of turnover.
- The place of supply for services to foreign parties operating a business (i.e. not only an entity registered for tax in another member state) should be determined pursuant to the registered office or principal place of business of the recipient of the service.
- The amendment suggests that rules for calculation of the factor reducing the input tax deduction be changed.
- The date of taxable supply for real estate transfers should be changed to the date on which the real estate is released to the transferee.
The amendment should take effect on 1 January 2009.
Other articles
KŠB achieved a significant victory in one of the most closely watched cases concerning a review of the adequacy of the consideration paid in a squeeze-out of minority shareholders
The Municipal Court in Prague, in the first instance, dismissed the claims of former minority shareholders of PFNonwovens a.s., who challenged the adequacy of the consideration paid during the squeeze-out carried out in March 2021 and sought to have it increased by up to double the amount.
KŠB podpořila letošní SVOČ na Právnické fakultě UK
Advokátní kancelář Kocián Šolc Balaštík se letos stala partnerem Studentské vědecké a odborné činnosti (SVOČ) pořádané Právnickou fakultou Univerzity Karlovy.
Je stabilita stavebního práva reálným cílem?
Advokátní kancelář KŠB byla odborným garantem diskuse legalwebu s názvem „Stabilita stavebního práva – iluze, nebo reálný cíl?“, která na konci dubna přivedla ke společnému stolu zástupce veřejné správy, developerů, profesních svazů i dalších odborníků ze stavební praxe. Debata se zaměřila na aktuálně projednávané změny nového stavebního zákona (NSZ) a jejich očekávané dopady.
