Association for Foreign Investment

2004/03/30, In cooperation with our members, PricewaterhouseCoopers and KPMG, and with CzechInvest

EU and Indirect Taxation (Customs and VAT – Statistics and Documentation)

In connection with the upcoming Czech Accession to the EU and also with regards to the new Act on VAT to be bind from May 1, 2004 the Association for Foreign Investment with the attendance of its members and in cooperation with CzechInvest organized two seminars on the above mentioned topics.

• The first seminar in Olomouc, on March 30, was hosted by the PricewaterhouseCoopers company,
• the second seminar in Prague, on March 31, was hosted by KPMG Česká republika.

The need for updated and practical information from VAT and customs sphere is increasing as the May 1 is approaching; the Aftercare Department of CzechInvest, which is in direct contact with already established foreign investors has been monitoring their situation ever since. A typical result of mutual contact between CzechInvest´s Aftercare and companies is ensuring the right and comprehensive infomation via cooperation with Association for Foreign Investment members.

The seminars dealt with the main topics from following areas:

1) Single European Market

Movement of goods within the EU and with non EU countries, purchase of services within the EU/from abroad, VAT refundances, three parties transactions, consignment stocks etc.

2) Customs

Economic customs modes, tariff scale – TARIC, transition period etc.

3) Related Statistical Duties

Requirements of records - Intrastat etc.

Olomouc, March 30, 2004