The media exposure and political craze accompanying the introduction of the ERS, coupled with the 11-month interval, somehow doused the debate over the other big news of 2016 – the loyal comrade-in-arms of the VAT Report: the Control Statement.
As with the above, we only have first results; the Ministry of Finance reports a year-to-year increase in collected VAT of CZK 18bn to nearly. Yet again, the exact figures are still eagerly awaited as the data are being processed. The official sources inform us that the expectations of the Control report’s impact will be significant – somewhere between CZK 10bn and 12bn. It should be noted, however, that many specialists tend to dampen the enthusiasm of the Ministry clerks as they believe other aspects are to be attributed, too. The idea is supported, among other factors, by the growing tendencies in both corporate (approx. CZK 17bn) and personal (c CZK 13,5bn) income taxes. A little aside, the penalties for discrepancies in the Control reports amounted to almost CZK 90m last year.
Nevertheless, as we have pointed out before, we still have to wait for more precise analyses… and quietly put up with the ERS…
