Proposal to increase the limit for mandatory VAT registration to CZK 2 million and for other changes

The government approved a proposal to amend some tax laws, which headed for the Chamber of Deputies as Parliamentary Print No. 254. Among other changes, there is also a proposal to increase the annual turnover limit for mandatory VAT registration to CZK 2 million, from the current limit of CZK 1 million, which has not changed in the past 18 years despite a significant increase in the price level. The law should enter into force on January 1, 2023.

The increase in the limit for mandatory VAT registration is also related to the increase in the limit of income from self-employment, for applying the so-called lump-sum tax regime. The proposal introduces a total of 3 taxation levels for taxpayers, derived from the amount of income achieved and the amount of flat-rate expenses claimed (determined as a percentage of income). It is also proposed to extend the time for exercising the option to use extraordinary depreciation of tangible assets classified in the first or second depreciation group, which were acquired in 2022-2023.

We are carefully monitoring the development in the legislative process for you and will inform you about the progress in time.

publikováno 26.07.2022
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