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Czech bitcoin VAT fraud measures

  • Feb 5, 2017 | Richard Asquith

Czech bitcoin VAT fraud measures

The Czech Republic has introduced a number of anti fraud measures on the trading of bitcoins.

This includes making the buyer of goods or services with bitcoin liable to VAT due if their vendors fails to pay the VAT over to the tax authorities.

The imposition of such a drastic measure may still be challenged at the European level as being excessive and disproportionate.  It will also likely hamper the adoption and growth of digital currencies in the country.

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Researching Czech VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade. 

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.