Late filing and late payment
All VAT registered businesses are required by law to file their VAT returns and to pay any VAT due by specific deadlines. Failure to meet these deadlines is known as a 'default' and can lead to penalties.
If the tax return was not filed on time, the financial authority may impose a penalty of 0.05% of the VAT due for each day the return is late. The penalty is capped at 5% of the VAT due or CZK 300,000 for each VAT return. If the return is filed within five working days of the deadline, no
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