Czech Republic Extends VATs to All Import Consignments
The Czech Republic will begin collecting value-added taxes on all import consignments beginning July 1, KPMG said in a May alert. The measure will eliminate a VAT exemption on imports of “low value,” KPMG said. It will also place more…
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of a burden on buyers and sellers of e-commerce goods, who will have to “pay more attention” to which party is responsible for paying the VAT. Traders must determine whether a foreign good's price includes the import VAT, or whether the end customer will be responsible for paying the VAT. “Sellers of goods from abroad should therefore consider all possible options,” KPMG said, “and decide on the most appropriate and convenient collection of VAT on the import of goods for both themselves and their customers.”