Have you failed to submit your VAT return by the deadline, which is the 25th day of the following month the return is to be filed for? We have good news, then. The current margin of five-calendar-day delay is to be changed to five working days, which will surely make the situation easier for the VAT payers, who often encountered issues with the deadline day falling on a Sunday or a bank holiday. Also, should an entity fail to meet the deadline, a fine of CZK 1,000 will be forgiven once a year without the obligation to appeal to the financial authority.
After the amendment become effective, it will also be possible to appeal against subsequent fines of CZK 10,000, CZK 30,000 or CZK 50,000 after the respective payment assessment has come into effect.
As the reasons for late VAT return submission are often justifiable, our team is ready to assist you with the process; do not hesitate to contact us if you are in need.