Reduced social insurance rates and shortened accelerated depreciation periods were approved by the Czech government on March 2; the two measures are expected to mitigate the effects of the financial crisis and boost employment.
The reduction in social insurance rates will help employees in all income groups, detailed the government's statement, stating that the measure was worth CZK18bn (USD800m), and expected to create 50,000 to 60,000 new jobs.
Depreciation will be allowed at a threefold accelerated rate, stated Finance Minister Miroslav Kalousek:
“This is useful for all those planning to buy new technology, computers, cars, tractors etc. The measure offers advantageous terms for such businessmen, being connected with deferred tax returns for the self-employed and enterprises with up to five employees. I am confident that parliament will approve this proposal.”
The proposals will now be submitted by the government to the House of Deputies.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment