The Czech Ministry of Finance announced on 24 November 2022 that the Czech Senate (upper house of parliament) has approved the law providing for an increase in the annual limit for mandatory VAT registration from CZK 1 million to CZK 2 million with effect from 1 January 2023. In addition to the increase in the VAT registration threshold, the annual income limit for entering the flat tax regime for self-employed persons will also be increased to CZK 2 million from 2023, along with the introduction of three different flat tax bands that determine the amount of the monthly flat tax...