Czech Government Approves Draft Bill Increasing VAT Registration Threshold

The Czech Ministry of Finance has announced that the Czech government approved a draft bill on 22 June 2022 that includes several tax measures, including an increase in the annual limit for mandatory VAT registration from CZK 1 million to CZK 2 million with effect from 1 January 2023. This follows the recent approval from the Council of The European Union for the Czech Republic to increase the threshold to the national currency (CZK) equivalent of EUR 85,000 at the conversion rate on the day…