ARTICLE
23 April 1998

Czech News - January 1998 - Future Development Of Czech Taxes

Czech Republic Accounting and Audit
The Ministry of Finance is reportedly preparing several new tax amendments, including a cut in corporate incomes tax from 35% to 30%. The changes would also include:

  • Tax deductible supplementary pension insurance
  • Faster tax depreciation
  • Elimination of 10% investment relief on new fixed assets
  • Change in the VAT rate to 22% for most services
  • Increase of excise tax on petrol and cigarettes.

The above mentioned changes are only likely to be submitted to the Parliament sitting after the June elections.

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.

For further information on the above, please contact Mr Richard Fletcher by telephone on +420 2 2440 1300 or E-mail directly to richard.g.fletcher@arthurandersen.com

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