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PM backs cautious VAT hike to boost revenues

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Czech Prime Minister Petr Nečas has said the government will most likely raise its two levels of value-added tax (VAT) by one percentage point in a bid to hike revenues. The resulting rise would take the lower rate of sales tax to 15% and the upper to 21%. “I regard this as more socially acceptable and it will create less inflation pressure,” Nečas commented on public broadcaster Czech Television’s Sunday political flagship program.

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