Czech Republic | Tungsten Network https://www.tungsten-network.com The journey to world-class starts here. Thu, 28 Apr 2022 07:22:09 +0000 en-GB hourly 1 https://wordpress.org/?v=5.9.3 Abolishment of electronic sales recording requirements https://www.tungsten-network.com/compliance-overview/country-updates/country/czech-republic/abolishment-of-electronic-sales-recording-requirements/ https://www.tungsten-network.com/compliance-overview/country-updates/country/czech-republic/abolishment-of-electronic-sales-recording-requirements/#respond Thu, 28 Apr 2022 07:22:09 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/abolishment-of-electronic-sales-recording-requirements/ Electronically recording sales is accompanied by several administrative burdens. Furthermore, the main reason for the introduction of electronically recording sales- cash payment / sales- are decreasing. In fact, non-cash payments are projected to reach 80% by 2025, further reducing the need for electronically recording sales. This phenomenon is taking hold not just within the parameters […]

The post Abolishment of electronic sales recording requirements first appeared on Tungsten Network.]]> Electronically recording sales is accompanied by several administrative burdens. Furthermore, the main reason for the introduction of electronically recording sales- cash payment / sales- are decreasing. In fact, non-cash payments are projected to reach 80% by 2025, further reducing the need for electronically recording sales. This phenomenon is taking hold not just within the parameters of the EU but globally too.

To this effect, the proposal to abolish the electronic sales recording has been approved by the Czech government.

It is expected that the Act on the Registration of Sales, which introduced the obligation for electronic sales recording, will shortly be cancelled.

The post Abolishment of electronic sales recording requirements first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/czech-republic/abolishment-of-electronic-sales-recording-requirements/feed/ 0