Competitiveness / Tax & Finance
This section feature research, opinion and progress reports on how the Czech Republic compares to other EU countries economically. It includes analysis of international rankings such as the WEF and World Bank.
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Spotlight issue
Czechs will Spend 174 Days Working to Pay Taxes as this Year’s Tax Freedom Day Falls on 23 June
With this year’s date the latest ever recorded, Tax Freedom Day is slipping further away from the start of the year. This year, tax payers in the Czech Republic will spend 174 days working to pay taxes, which is one more day than last year. According to Deloitte, Tax Freedom Day will fall on 23 June 2018. Approximately the same as in the Czech Republic will apply to the Netherlands, Germany and Slovenia. Tax payers will have to spend the most days paying taxes to the government in France and Luxembourg, while the fewest in Romania and Bulgaria.
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OECD Revenue Statistics 2017: The Czech Republic ranked 18th out of 35 OECD countries in terms of the tax-to-GDP ratio in 2016, up one place
The OECD’s annual Revenue Statistics report found that the tax-to-GDP ratio in the Czech Republic increased by 0.7 percentage points, from 33.3% in 2015 to 34.0% in 2016.
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Optimism and the satisfaction of entrepreneurs break records
Optimism and the satisfaction of small and medium-sized businesses and entrepreneurs are breaking records. Companies expectations index in the fourth quarter of 2017 increased by 12.5 points to its highest ever value of 41.6 points. Three quarters of respondents expressed their satisfaction with the economic development in the Czech Republic. This results from a regular survey by ČSOB, which quarterly inspects the mood and plans of the SME sector in the areas of demand, investment and business expansion.
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