The Senate of Czech Republic has accepted a draft bill for introducing a 10% VAT rate on October 22, 2014. The initiation of a reduced tax rate is applicable for books, medicine, and baby food from next year and diapers were also to be incorporated in the lower most VAT group. Currently this country has 21% VAT rate for books, baby foods and drugs and 15% VAT rate for food items. Again, the Senate has confirmed the termination of plans to combine Czech VAT rates under a single 17.5% rate from 2016. The new bill will enter into force from January 1, 2015 if it has endorsed by the President.
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Income Tax Treaty between Kuwait and Lithuania
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