Electronic record-keeping of cash sales

The Act on Electronic Record-keeping of Cash Sales has been published in the Collection together with the respective accompanying act. From 1 December 2016, providers of accommodation and catering services will have to start keeping electronic records of cash sales. From March 2017, wholesale and retail providers will follow. Together with the Act, a tax relief on personal income tax has been approved in an amount of up to CZK 5,000 (when fulfilling the condition of a certain minimal amount of the intermediate tax base from independent activity as defined in Sec. 7 of the Income Tax Act) for a tax payer who will record cash sales for the first time during the given period pursuant to the mentioned Act, and further, the reduced 15 per cent VAT rate will apply to catering services (with the exception of alcoholic drinks and tobacco products) from 1 December 2016.

The Financial Administration set up web pages containing all information on electronic record keeping (more information here, in Czech only).