VAT Returns

Czech Republic VAT returns must be reported every month once you are registered for VAT, depending on your VAT liability date you may need to back date reporting before your the actual date you receive your VAT number/certificate. Czech VAT Returns are due on the 25th day of the month after your tax return period. For example July’s return would be due on the 25th of August. For quarterly returns your return for January,February and March would be due on the 25th of April.

Czech VAT Penalties

If there are wrong declarations or late fillings of Czech VAT returns then foreign companies may be subject to penalties. Late filings or failure to register for VAT will result in penalties calculated according to potential lost revenue with a maximum penalty of CZK300,000. Inaccurate or incorrect filings will trigger penalties of 20% of the additional tax liability.

There is a three year statute of limitations for Czech VAT, There are exceptions to this, for example, in the case of businesses which commit repeated tax offences the stature of limitations may be extended to ten years.

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