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VAT- expansion of reverse charge mechanism as of 1 July 2015 in Czech Republic | News Flash

20 Jul 2015

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VAT- expansion of reverse charge mechanism as of 1 July 2015
The Government has approved the expansion of the local reverse charge mechanism to new types of selected commodities. With effect from 1 July 2015, the reverse charge mechanism shall apply to all cereal and technical crops, including oil seeds, as specified under the customs nomenclature codes included in Chapter 10 and 12, which simultaneously meet the definition provided by the relevant Government Decree (e.g. wheat, rye, barley, buckwheat, millet, oat, rice, sunflower seed, flax and sesame seeds and seeds of certain herbs, soya beans, etc).

The reverse mechanism is applicable only if the total amount of the tax base of all delivered selected commodities  exceeds the limit of CZK 100,000.

The local reverse charge is applicable only in case that the place of taxable supply is in the Czech Republic and the supply is realized between VAT payers.

The application of the local reverse charge in case of sugar beet is effective from 1st September 2015.

Contact:

Tereza Štanderová

Senior Tax Consultant

Tereza.Standerova@accace.com

+ 420 222753480-1


Read more news in Czech Republic:
  • The Czech General Financial Directorate issued a note concerning the real seat of tax payers
  • Approval of financial statements in Czech Republic

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About Accace

Originally established in Central and Eastern Europe in 2006, Accace ranks among the leading outsourcing and consultancy providers in the region. Engaging over 600 experts, we have vast experience with handling small to large scale, multi-country outsourcing projects and providing a comprehensive range of our services to over 2,000 customers.

About Accace Circle

Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Covering almost 40 jurisdictions with over 2,000 professionals, we support more than 10,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 170,000 pay slips globally.

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