19th June 2014

Taxes, prices, competitiveness: The Czech Republic in Comparison

As the week was fruitful in various ladders, surveys and comparisons let’s see the most important ones. According to the Business Environment Ranking providing consulting for Economist Intelligence Unit, sister to The Economist, the Czech Republic placed 28th in its evaluation and is for the upcoming five years the second most suitable economy for business in former post-communist bloc only to lose with Estonia. The Czech Republic ranked better than its neighbours Poland and Slovakia and held its position from the term 2009-2013. Our country belong to the better half of EU states which ranked above 30th place.

According to another survey made by Eurostat the Czech Republic is on 10th place from 28 EU countries regarding taxation. The Czech Republic is with its corporate taxation of 21.1 % below the average of EU. The level of taxation varies greatly in respective countries and is in the range between 9 % in Bulgaria and 34.3 % in France. Last survey made also by Eurostat compared nominal price level in EU countries (not considering PPP). The Czech Republic ranked on shared 20.-22. place with Latvia and Slovakia and the level amounting to 71 % of EU average. Considerable lower prices are in the Czech Republic for hotels and restaurant with 58 % of average EU prices. Those prices were lower only in Bulgaria, Romania and Hungary.

For more click here, here and here.

Members of the American Chamber of Commerce in the Czech Republic