As of 1 January 2016, VAT payers will have to file a new report for VAT purposes. The so-called VAT Control Statement will include detailed information on provided and received taxable supplies with the place of taxable supply in the Czech Republic. The aim of this new measure is for the tax authority to have sufficient information on provided and received taxable supplies in order to cross-check the data and identify VAT payers for closer scrutiny.
More details on the VAT Control Statement were published on the tax authority webpages in summer 2015. As the VAT Control Statement will have to be filed electronically, the XML structure was also made available so that VAT payers may prepare their software for the upcoming reporting obligation. However, the XML structure has been already updated and may not yet be final.
In cases of corporate entities, the VAT Control Statement has to be filed on a monthly basis within 25 days after the relevant month’s end. Therefore, the first VAT Control Statement will have to be filed for January 2016 on 25 February 2016 at the latest. There should therefore be enough time to adjust your accounting software for the needs of the VAT Control Statement. Based on our experience, most of the data is usually already recorded in clients’ accounting software; the adjustments will therefore be mainly along the lines of assorting the data in the correct structure and preparing an output in the requested format.
We can of course provide you with professional assistance in this area. We can guide you through the requirements of the VAT Control Statement in accordance with the VAT Act, help you identify the necessary accounting data to be collected or assist your IT department when adjusting the accounting software.