Guarantee for unpaid VAT

30. 9. 2013

Concerning the government-approved statutory measures we would like to inform you that the deferred guarantee for unpaid VAT in case that the taxable supply was paid to a non-disclosed bank account will be limited by the amount of CZK 700,000.00 CZK (2 times the amount under the law governing restrictions on payments in cash respectively). This means that the customer becomes the guarantor only if the total amount of the transaction exceeds the above mentioned limit. The decisive moment will be the assignment of the bank transfer. We are monitoring further development of the legislative procedure and we will inform you about further development in this area.

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