The possible introduction of a sector tax on banks in the Czech Republic would lead to a knock-on increase in the cost of financial products, according to an analysis conducted by the Centre for Economic and Market Analyses (CETA) published on Tuesday. This would mainly concern higher mortgage rates and more expensive loans for entrepreneurs, the study found.
High energy expenditures are forcing nearly a quarter of Czechs to cut back on other types of spending, a recent survey conducted by the polling agency STEM revealed. However, other data shows that 68 percent of the population likes to rank up their heating to temperatures by up to 25 degrees, resulting in unnecessary costs.
Two years after a law aiming to clamp down on bootleg wine sales and low quality wines came into force it still sparks controversy among wine-growers and wine sellers. While the Agriculture and Food Inspection Authority claims the quality of wines sold on the market has significantly improved, small wine makers say it is putting them out of business.
The Czech government is poised to amend the Food and Consumer Protection acts so as to ban the practice of “dual quality” sales of food and other products. If signed into law, retailers would be banned from selling inferior quality products that appear to be the same as superior ones sold elsewhere in the EU.
The Czech Republic’s system of company tax is one of the most complicated in the EU, claims a study made in collaboration by the consultancy BDO and two German universities. The Czech Republic ranked fourth from bottom among EU states and its tax system was considered below average in the world-wide ranking.