Czech relives VAT liability rules on undisclosed bank account payments

The Czech tax authorities have suspended the potential VAT liabilities faced by customers making legitimate payments to suppliers with undisclosed bank accounts.

The tax authorities had been looking to impose an extra burden on the customers to ensure that the bank accounts they were paying into had been properly disclosed to the tax authorities by the supplier.  The tax authorities had made public a list of disclosed bank accounts on its website.  It was introduced in April 2013.  This was seen as a key measure to help reduce the incidences of Czech VAT fraud and undeclared payments.

This obligation has been suspended for 6 months until September 2013.

Click for free Czech VAT info