JIM and VAT
3.01.2012Company: Amcham
Apart from the amendments to tax, health and social insurance, and public sector legislation, the regulations which are called “JIM” by the specialists (referring to the concept of Unified Revenue Collection Agency) will bring new opportunities regarding e-invoicing.
For example, it will be easier to have a tax document issued in an electronic version. Not only will the methods enumerated in the law be possible to apply. From now on, it will be possible to send the documents via data boxes or in a way ensuring their authenticity and integrity. In addition, paper documents will be possible to transform into e-documents and vice versa.
The Ministry of Finance is about to launch and administer a guaranteed depository of e-tax documents. Suppliers of the goods which are subject to excise tax will be obliged to store their documents in the depository.
These regulations will take the burden off a number of companies. Especially with regard to e-commerce, software development and sophisticated intragroup supplier chains of some companies, relevant standards for invoicing and storage of the documents will be adopted. Prevention of tax evasion made the adoption of standards de facto impossible, until now.
RSM TACOMA
Tax Department
Daniel Kovačovič
Consultant
daniel.kovacovic@rsm-tacoma.cz
