Support Ukraine Here

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Czech News in English » Business » Finance » Government bill to increase costs and taxes passes the House

Government bill to increase costs and taxes passes the House

Share on facebook
Share on twitter
Share on linkedin
Table of Contents

The government managed to pass an increase in costs and taxes in the House. All the representatives of ANO, CSSD and KSCM parties voted for the passing of the bill. The bill went for easy pickings with the untouchable beer and wine avoiding any changes.

The costs of registering a property will increase from 1000 Crowns to 2000 Crowns. This is the first increase in many years. Cigarettes will see increases as the EU unification model continues its trajectory. Although increases are about 5.5 Crowns a package, tobacco companies see the increase translating to about 12 Crowns a package. Liquor will also cost about 9 Crowns more for a half liter bottle. The Minister of Finance Alena Schillerova (ANO) said that the increase in taxes for cigarettes and alcohol not only increases the revenue for the government, but also serves as a deterrent to consumption.

Gaming will also see increases in taxes. The now minimal tax level of 23% will increase to 35% for lottery gaming. The rest of the gaming taxes remain unchanged. An earlier bill included taxing winnings from gambling starting at 100,000 Crowns versus the current 1,000,000 Crowns, but was not included in the final draft.

There are some tax changes for insurance reserves which will result in back taxes of about 10.5 billion Crowns. The usual suspects are hitting on all cylinders this year: Banks, tech companies, gambling, liquor, cigarettes and insurance. Did we miss anyone?

The Prague Daily Monitor encourages comments or other reader feedback on it’s facebook pages:
Please feel free to support our page with a like and suggest anything you would enjoy added to our daily newspaper.

most viewed

Subscribe Now