Amendment to the Value Added Tax Act in the Chamber of Deputies

The Chamber of Deputies of Parliament discussed in the first reading the bill amending Act No. 235/2004 Sb. (the Value Added Tax Act) and related acts. The bill is related to currently proposed pension reform which should lead, in a two-step process, to an increase in the lower rate of tax from 10% to 14% as of January 1, 2012, and consequently the introduction of a single rate of 17.5% as of January 1, 2013. Thus it would mean another significant increase in the tax burden.

July 18, 2011