Czech VAT to Increase

BusinessEconomy ♦ Published: August 21, 2012; 17:20 ♦ (Vindobona)

In order to increase public revenues, the Czech government may increase value added taxes.

Czech VAT to Increase / Picture: ©

At the moment, the public debt level amounts to about 40% of GDP. In the Eurozone, the average debt quota is about 90%. However, the Czech budget deficit remains relatively high. After a deficit of 4.8% in 2010 and a deficit of 3.1% in 2011, there is a slight upward trend. For 2012, economists anticipate a budget deficit of 3.4% in 2012 and in 2013.

As a result, the Czech…