Czech Republic – Consolidation of the reduced VAT rates into a single 12% rate approved by the Parliament

The Czech Parliament has approved the proposal of consolidating the two reduced VAT rates of 15% and 10% into a single VAT rate of 12% from the 1st January 2024. The proposal also includes moving newspapers to this new reduced VAT rate from the standard one.

The bill now requires the President’s signature and publication in the Official Gazette to take effect.