Czech Republic issues new VAT invoice rules
The Czech General Finance Directorate has issued new guidance on the rules for Czech VAT invoices, in accordance with the latest EU VAT Invoicing Directive.
The new guidance covers:
- Companies may retain VAT invoices outside of the Czech Republic as part of outsourcing arrangements
- Electronic invoices may be used if backed-up by secure control procedures. Only if the tax payer is convinced that such procedures are effective may it discard the original VAT invoice.
Almost all other EU member countries have now implemented the 2nd EU VAT Invoicing Directive from the start of 2013.