On 1.10.2019 the amendment to Act No. 222/2004 Coll. became effective. on value added tax concerning the taxable performance of vouchers/vouchers. The amendment applies to vouchers issued after 30.9.2019.
The change occurred in the date of the taxable supply (DUZP).
In the case of a single-purpose voucher, the date of sale or delivery of the voucher to the customer is already considered to be the DTT. If there is a legal obligation, a tax document must be issued within 15 days at this point in time with all the details. The actual redemption of the voucher (physical provision of the service or supply of the goods) is no longer considered a taxable supply, so VAT will no longer be charged at this point.
The amendment does not apply to so-called discount vouchers (e.g. a 20% discount on a purchase of your choice or a voucher for any services worth €50). For these types of vouchers, nothing changes in terms of VAT and it remains valid that the tax liability arises on the date of receipt of payment from the customer into the rented bank account. However, the VAT is due on the date of the actual supply of the service, but the taxable amount will be zero and will be set off against the payment received (advance payment).
However, the Income Tax Act is not affected by the change in the law, therefore, the accounting of income and expenses continues to occur at the time of rendering of service or supply of goods.