Quote:
Originally Posted by Struggle4Bucks
The reclaimable part of vat (on things you buy for your company) is most of the time peanuts compared to paying the 21% vat on what you've sold... So... vat is not so nice at all.... in the end you always pay more then you can claim back... If you can claim more vat back then you pay... then you don't have a profitable business...
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From a business point of view VAT doesn't cost me anything.
Every time i have to collect VAT from a client (and that happens maybe 5 times a year for me) I just pass that money to the tax office and that's it.
and i return i get VAT back for everything I buy for the company
VAT is really no problem.
And corporate tax in CZ is 19% - acceptable.
and then there are ways to also (legally) minimize your personal taxes.