Landlords are affected by a fundamental change in how to apply VAT, effective as of 1 January 2021.
On November 28, we discussed with Deputy Finance Minister Stanislav Kouba the impact of digital tax on the Czech economy. Among other issues we talked about fair taxation, efficiency of revenue collection in the Czech Republic, proposed amendment to VAT Act, reverse charge, changes in Income Tax, labour taxation and ecological tax.
Growth in the Czech economy slowed to 2.5% in the third quarter, according to refined estimates. Household consumption is lower, but it's still the main growth driver. Fixed investments fell slightly. We expect the economy to grow around 2.5% this year, falling closer to 2% in 2020.
In their research experts from the Institute of Educational Sciences of the Faculty of Arts of Masaryk University point out many problems of Czech secondary education. The largest number of teachers at Czech secondary schools is between 51 and 60 years of age. It is much harder for older teachers to maintain their working ability and it is also necessary to prevent burnout, which is more common in this age category of teachers. Professionals from MU are now coming up with tools to help teachers in cooperation with the non-profit organization Age Management.
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.