News
BEPS and Transfer Pricing roundtable with Vitezslav Kapoun
On November 22, the American Chamber of Commerce held a roundtable with Vitezslav Kapoun from General Financial Directorate on current implementation of BEPS and transfer pricing. The Base Erosion and Profit Shifting (BEPS) Action Plan was adopted by the OECD and G20 countries in 2013.
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EY: Every third Czech would happily switch to a competitor offering better online financial services. Are banks ready for the digital banking revolution?
- Banks aren’t innovative enough and are losing touch with clients
- More than half of Czechs with a mortgage took it out somewhere other than their primary bank
- A quarter of clients wouldn't hesitate to share more personal information with a financial services provider in exchange for better customized services
ING Bank Czech Republic: Czech wage growth remains strong
Nominal wages grew by 8.5% year-on-year in the third-quarter. Wage growth slightly exceeded the consensus and the central bank estimates of 8.2%, mainly due to higher wage growth in non-market sectors.
Grayling Czech Republic Political Digest November 2018
It might seem as a déjà vu, but it’s simply the story of the Czech PM Andrej Babiš, who is unable to distance himself from the accusations surrounding the questionable EU subsidies, which were used to build the infamous recreational farm called Stork’s nest, Grayling Czech Republic writes.
ING Bank Czech Republic: Czech GDP growth revised higher
GDP growth figures for 3Q18 were revised slightly higher to 2.4% year-on-year and 0.6% quarter-on-quarter. Stronger investment and household consumption contributed positively to the result while inventories and net exports were drags on growth.
Dentons: Current Trends in the Prosecution of Bid Rigging in the Czech Republic
In its most recent annual report, the Czech Competition Authority stated that the investigation of bid-rigging cartels would be its highest priority. The issue of bid rigging is a hot topic that has attracted the attention not only of the CCA, but also that of the Czech police and public prosecutors, who have been very active in investigating bid-rigging cartels in recent years.
Strategic Directions for Czech Economic Policy
- 1) The home of value-added manufacturing
- 2) Prague-Brno-Ostrava Creative Triangle
- 3) Health Care as an export industry
- 4) Government as a competitive advantage
Advocacy Priorities for 2018-2020
People
1. Setting a predictable policy for economic immigration based on the goal of maintaining current levels of employment for Czech citizens and wage growth that corresponds to productivity growth.
2. Establishing incentives for companies and individuals to provide the qualifications and skills necessary for the automation of production and service industries.
3. Introducing machine and computer programming as a required language in elementary and high schools.
4. Improving the Healthy Life Years of the workforce and overall population through better prevention programs, better diagnostics, and better treatment.
Infrastructure
1. Develop a plan for developing and maintaining an integrated rail, road and air commercial logistics systems.
2. Integrate the Prague airport into the national commuter network.
3. Increase digital infrastructure capacity throughout country.
4. Develop a housing plan that will create more entry-level housing in Prague and Brno for purchase or rent.
Technology
1. Reform investment incentives to concentrate on product research, development and production.
2. Establish policy objectives in the area of health, energy, transport, environment and other areas and use these objectives for allocating public research funds.
3. Require major public procurements to use objective and measurable criteria for innovation.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
