The Prague Business Journal has reported that the European Union and the Czech Republic have agreed on five points of exemption from the EU's tax laws, three of which are temporary and two are permanent.
The permanent exemptions are from minimum tax rates for distillers who produce fruit-based alcohol who will pay CZK90 as opposed to the EU rate of CZK235; and small businesses with an income of less than CZK1.2 million will be exempt from VAT charges.
The three temporary exemptions involve the VAT rate for building projects (housing) to remain at 5 per cent until 2007, and exemptions for VAT rates on cigarettes and domestic heating.
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