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Czech Republic: No VAT Increase

Published: September 7, 2012; 19:11 · (Vindobona)

The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.

Since the beginning of this year, the Czech Parliament discusses the VAT increase. According to the government´s plan, the lower tax rate should be lifted by one percentage point to 15%. The normal VAT rate was planned to increase from 20% to 21%. In 2013, the tax intake should have increased by € 1.0bn. The VAT increase should improve the situation of the state budget. The increase…

This article includes a total of 348 words.

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