Key proposed tax changes for 2013 – INCOME TAX
19.12.2012Company: bpv Braun Partners s.r.o. advokáti
Conscious of the need control the public borrowing requirement the Czech parliament, in common with other EU states, is looking to increase tax revenues as well as to cut public spending. By far the largest source of increased tax revenue relates to the proposed changes in the rate of VAT which is anticipated to bring in CZK 16 billion in a full year.
Other direct tax changes for 2013 will not have a significant impact on tax revenues but in large measure bring home to individuals changes that will affect the money in their pockets To this end the lower chamber of Parliament approved next year’s finance bill and the Czech Parliament will therefore vote on the bill returned by the Senate shortly before 18th or 19 December 2012.
