Tax & Accounting Blog

Czech Republic VAT Rate Increase Proposed

Indirect Tax, ONESOURCE, Sales and Use Tax, Transaction Tax, VAT Tax Rates March 20, 2012

Czech Minister of Finance Miroslav Kalousek has announced new draft tax measures the government plans to introduce as part of a 2012-2014 austerity package. Included is a proposal to replace the standard 20 percent VAT rate and the special 14 percent VAT rate with a flat rate of 17.5 percent, effective January 1, 2013.