This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2025 Wave 1 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2025 Wave 1.
The 12th of the new functionality in the Country and regional section is use VAT Return to report VAT in local and functional currencies in Czech Republic.
Effective from January 1, 2024, the Czech legislation, as part of the amendment to Act No. 563/1991 Coll. on Accounting, allows Czech companies to set a functional currency and thus keep accounts in a currency other than Czech. The companies can also use the Additional Reporting Currency functionality to track transactions in the local currency. Therefore, the additional reporting currency has been added to the VAT Return.
Enabled for: Users, automatically
Public Preview: –
General Availability: Apr 2025
Feature Details
Previously, under Czech legislation, VAT with a functional currency was handled only through the VAT Statement. The VAT amount was shown on the VAT statement in either the local currency or another reporting currency.
The VAT Return feature has been modified to show amounts in both the local and additional reporting currencies and to generate files for submitting the VAT return in the correct amounts according to Czech legislation. This is part of the extended option for reporting VAT through VAT Return.
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