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Czech News in English » Business » Finance » Czech Republic to apply "reverse charge" VAT mechanism as broadly as possible

Czech Republic to apply “reverse charge” VAT mechanism as broadly as possible

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The European Council on Tuesday approved a proposal that will allow EU member states that have a problem with carousel tax fraud to apply a generalized reversal of VAT liability. This is something Czech Prime Minister Andrej Babiš has fought for for four and a half years on the argument that use of reverse charge could save the EU a large part of the around 170 billion euros lost every year in unpaid VAT.

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