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Czech News in English » Business » Finance » FinMin urges upper house to scale back USD 5.9 billion tax cut

FinMin urges upper house to scale back USD 5.9 billion tax cut

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Czech Finance Minister Alena Schillerova said on Monday she would plead with the upper house of parliament to scale back a record tax reduction worth over 2% of gross domestic product approved by the lower house against the government’s wishes. Deputies from both ruling coalition and opposition parties voted on Friday for proposals from both sides of the aisle to slash taxes by about CZK 130 billion from next year.

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