This assessment is intended to assist members in their short and long-term planning by providing the outcome of discussions among board members. The board has been holding regular assessment sessions to share and discuss the impact within their industry and among their clients, customers and partners. These exchanges have been informed by research and input from our committees. This document is a working document which will be updated regularly, and all comments and suggestions are welcome. The document is divided into five sections: 1) duration of the crisis, 2) economic impact, 3) transformative effect, 4) effectiveness of government measures, and 5) business priorities.
Last update on January 18, 2020.
Download up-to-date information on laws, regulations and governmental measures enacted in different areas due to the Coronavirus pandemic (COVID-19) in Central and Eastern Europe, including Belarus, Bulgaria, Czechia, Estonia, Hungary, Estonia, Latvia, Lithuania, Poland, Romania and Slovakia. Updated frequently.
Based on the amendment to the Real Property Tax Act, in case of discrepancy between the data in the land registry and the actual state of affairs, the type of land recorded in the land registry prevails. Taxpayers who historically prepared their real property tax returns based on the actual state of affairs relating to their land may be required to file a tax return in 2021.
Due to a fall in food prices, inflation slowed down more than expected. Core inflation remains elevated. We still expect inflationary pressures will ease due to weakened demand. At the beginning of the year, inflation should be below 2%. Inflation is below market and CNB expectations, and speculation on future rate hikes is declining.
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.