New VAT statement for Czech republic
The technical structure of the control statement has been unveiled.
The control statement is a new report that must be filed by all subjects-payers of VAT on the condition they either realize taxable payment in the Czech Republic or raise claim for VAT deduction. It will first be filled for January 2016.
The control statement shall be filled for each calendar month within 25 days from the end of that calendar month; it shall provide detailed information on all invoices issued and received on the purpose of comparison and revision of transactions with business partners. A vast majority of organizations will need to modify their accounting software in that aspect.
Should an organization fail to provide its control statement to relevant authority, it might be identified as an unreliable payer of VATaccording the current law. In the case of discrepancy, the period for rectification is only 5 days! Otherwise sanctions are imposed.
What can we do to help you?
We organize workshops where you will be introduced to legislative requirements and the structure of the control statement, assess the risks and potential sanctions
We will analyze your processes and data from the perspective of the control statement
We will identify the accounting information necessary for the preparation of the control statement
We suggest modifications to your IS (standard SAP also for a more friendly user experience)
We will train users and help with the first filing