Value Added Tax (VAT)
Value Added Tax makes up one of the most important sources of income of the state budget. Everyone pays it during purchase of most goods and services. This tax is imposed practically throughout the world and the Czech Republic is naturally no exception. The principle of VAT consists of the supplier, if it is registered as a payer, being required to pay part of the value of its executed trade to the state, if this trade is subject to taxation.
Author: Aleš Martínek
Added: 01.01.00Related articles
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