Issue of credit notes and debit notes
Currently the date of taxable supply („Datum uskutečnění zdanitelného plnění”, shortly „DUZP” or „DUP”) is not a compulsory part of corrective tax document (credit note/debit note). Based on a new amendment, the date of making a correction should be stated as the date of supply in a corrective tax document. It should resolve problems when issuers and recipients have problems with what date they should state in the VAT Control statement.
Duty to deliver a tax document
The new amendment explicitly requires that taxpayers make all efforts necessary to deliver tax documents within the deadline for issuing tax documents. Taxpayers must ensure that a tax document is sent to the recipient’s contact address no later than on the last day of the relevant period. This will not be deemed fulfilled if taxpayers send tax documents within the deadline but at the same time know or could know that the recipient is not staying at the given address, is unknown or uncontactable.
End of differences in calculated tax amounts
Currently, there are two methods to calculate VAT: the top-down and the bottom-up. Tax may differ slightly depending on the chosen calculation method. The choice of methods has been amended as follows so that both calculation approaches arrive at the same tax amount.
- Article 37 – four-digit coefficients are cancelled (21/121 = 0,1736)
- VAT = gross value / 1,21 (or 1,15 or 1,10)
- possibility of rounding VAT to the whole crown is cancelled
- VAT is mathematically rounded to 2 decimal places
- for cash payments – the VAT basis does not include the amount resulting from the rounding of payment to the whole crown
Please note that this change may require adjustments to your cash and invoicing software. Tax payers may continue to use the old system for up to six months after the amendment is effective.