Companies in Czech Republic
are testing a new electronic cash register system
, which will provide reliable information to the state’s authorities in terms of cash transactions
completed across the country. The system entered into a one month trial period
and it will become operational from the beginning of December 2016. Persons who want to open a company in Czech Republic
will also need to implement the system, which is now tested for the reduction of tax evasion
and increasing the real revenue
s obtained by various businesses. Our team of Czech lawyers
can offer more details on the regulations related to the new electronic cash registe
The main attributes of the Czech electronic cash register
The new electronic system
is connected to an online tax authority
, which can verify the current situation of the companies
that have implemented the cash register.
The system will become available for most of the retailers in Czech Republic
and the businessmen interested to set up a company
here will be required to use this new system
At the moment, the local authorities declared that the system will be imposed in the first stage for the catering industry, as well as for the accommodation sector.
Recent information in this sense reveals that approximately 20% of the businessmen have already purchased the new cash register
, while half of the establishments that will need to use it were interested in finding out details on how the system works. The system will become compulsory and our team of attorneys in Czech Republic
can offer more details in this sense.
The challenges that are not yet clear for the local businessmen refer to various matters, such as:
• power outage;
• no internet connection.
The electronic cash register – tax matters
Once the system will become available throughout Czech Republic
, the local authorities consider they will collect additional taxes
, amounting for EUR 666 million per year. As mentioned above, the first stage of the project will start in December, while the second one is programmed for March 2017 and it will be available for retailers and wholesalers
. Later on, other industries, such as transportation and agriculture
, will need to implement the electronic cash register