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Entrepreneurs (in the Czech Republic, Poland, etc.) have numerous obligations. Acquiring customers or caring for a brand’s reputation are not the only challenges. It is also very important to make correct tax settlements. Especially, Value Added Tax (VAT in the Czech Republic) is very problematic. What is worth knowing about VAT for entrepreneurs in the Czech Republic? Read the article below if you want to know the answer to that question. Good luck!
Czech VAT number – what are the obligations of taxpayers?
If a Czech entrepreneur has a Czech VAT number, he is obliged to do many activities. Some of them are presented below:
• storage of tax documentation (general rule: ten–year storage),
• when transactions are concluded in foreign currencies – the application of the exchange rate in accordance with the regulations,
