The amendment to the value added tax (VAT) law that would implement the “quick fixes” measures will not be effective in the Czech Republic beginning 1 January 2020 because the Chamber of Deputies has yet to discuss the proposal or to have the first reading.
With this delay in the implementation of the EU directive, there are questions for Czech VAT-payers involved in the intra-Community supply and acquisition of goods:
Challenges are expected in situations when Czech payers withdraw goods from their European suppliers’ consignment (call-off) warehouses located in the Czech Republic, and in situations when Czech entities own inventories in a consignment (call-off) warehouse in another EU Member State.
Read a December 2019 report prepared by the KPMG member firm in the Czech Republic
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.