Recent economic reforms adopted by the Czech Government have lead to the imposition of so called "Import Deposits" on consumer goods. From April 23, 1997 most consumer goods imported into the CR must be accompanied by a certificate confirming that the importer has deposited 20% of the invoice value of the goods as an interest free deposit in Czech currency for a period of 6 months.

All goods mentioned in enclosure of the Directive will be released into free circulation upon proof that the import deposit has been paid (hereinafter "certificate") by the importer or his representative.

Goods of the invoice value of 5.000,- CZK or less, goods of non commercial character, goods imported to cover government claims, duty free goods and goods provided free of charge will be released into free circulation without the import deposit certificate.

The "import deposit" is to be understood an interest-free amount paid in Czech currency for a period of 6 months, equal to 20 % of the value of imported goods as stated per invoice.

The import deposit must be paid to an account established by the importer at a Czech financial institutions, which then will issue to the importer or his representative a certificate as proof that the import deposit has been paid. This certificate is then presented to the Customs Office as part of the import documentation.

The conversion of foreign currency to Czech currency must be calculated based on the rates of Czech National Bank valid on the day the amount is paid. The total amount shall be rounded down to the nearest Crown.

It is possible only in the following cases to apply for early release of the import deposit:

  • the goods were not released for circulation
  • the goods were, after release for circulation, exported for the reason of defects or because they did not meet conditions of the contract

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.