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Commentary

Exempt supplies and partial exemption

10 Czech Republic
10 Czech Republic | Commentary

Exempt supplies and partial exemption

10 Czech Republic | Commentary

Exempt supplies and partial exemption

As a detailed description of each of the exempt categories is outside the scope of this work, readers are recommended to take local advice regarding the interpretation of the exemptions.

The effects of VAT exemption are that:

  1.  

    •     the supplies of goods or services are free of VAT; and

  2.  

    •     VAT incurred on costs associated with making the exempt supplies (including overhead costs) is not recoverable.

Businesses making only exempt supplies will be unable to register for VAT.

Businesses making a mixture of taxable and exempt supplies must register for VAT if the value of the taxable supplies

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