14th October 2013

Economic Policy: Legal measurement passed by the Senate

At its last plenary session, the Senate passed the legal measurement that was proposed by the Government. The legal measurement regulates the tax on real estate acquisition. The Government proposed the bill in relation to the New Civil Code that should come into force in January, 2014. The governmental aim of the Bill was to partially follow the line that the previous government tried to persuade and partially to reflect current political composition of at the Senate. Therefore as a consequence, the government proposed a legal measurement that keeps the buyer’s duty to pay the tax of real estate acquisition. However, the bill also enables that contracting parties may agree on a different provision of a contract (seller’s duty to pay the tax). The previous aim of the Bill was to reduce prices of real estate as the tax should be levied on a buyer.
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The Senate also postponed further discussion of other legal measurements (system of taxation, public procurement).

Members of the American Chamber of Commerce in the Czech Republic