Value Added Tax

The most common VAT computation method is

• income-based

• accounts-based

• revenue-based

• invoice-based

Which country does not have a reduced rate?

• Hungary

• Denmark

• France

• Poland

Which territory is included in EU VAT area?

• Lichtenstein

• Canary Island

• Monaco

• Switzerland

How is the integrated system for VAT return in EU called?

• DOSS

• MOSS

• VOES

• VAT AREA

True statement about reverse charge

• Purchaser can only claim the right to deduction

• Supplier invoices the price with tax

• Supplier has the obligation to charge VAT

• Supplier invoices without VAT, the responsibility for charging and paying the tax and claiming the deduction is on purchaser

Reverse charge transaction in the Czech Republic is

• supply of mobile phones in total amount 75 000 CZK without tax

• supply of health services

• supply of building and assembly jobs

• supply of metals in total amount 100 000 CZK without tax

Generalised reverse charge will be used

• for domestic supplies of goods and services above a threshold of 17 500 EUR

• for cross border supplies

• for domestic supplies of goods above a threshold of 15 000 EUR

• for domestic supplies below a threshold of 17 500 EUR