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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AmCham EU’s position on the Commission Anti-Tax Avoidance Package
AmCham EU welcomes attempts to ensure that adoption of the OECD’s recommendations is consistent across the EU and with international trading partners where they are required in order to address identified issues by the OECD such as cross border hybridity, excessive interest deductibility and abusive transactions. Consistency is vital to minimise the negative impact on cross border trade and investment and to avoiding potential double taxation. However, we are concerned that the proposed measures are not appropriately drawn to tackle the identified issues without negative impact on the single market.
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Czech Rep largely compliant with OECD tax transparency standard, improvements needed | Czechs do not like tax evasion by corporations, see inequality in possibility to circumvent, determine (tax) rules - study
OECD data show the Czech Republic is „largely compliant“ with the international standard for exchange of information on request and transparency objectives of the Global Forum on Transparency and Exchange of Information for Tax Purposes. Improvements should be made in the areas of availability of information on ownership, access to information/access powers, and exchange of information/rights and safeguards, for example. According to a survey conducted by the Median agency for the Glopolis think-tank, almost 60% of Czech respondents think that it is big corporations who is responsible for the greatest part of tax evasion in the Czech Republic.
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OECD: 31 countries sign tax co-operation agreement to enable automatic sharing of country by country information
As part of continuing efforts to boost transparency by multinational enterprises (MNEs), 31 countries, including the Czech Republic, signed the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports.
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Eurostat: Largest fall in tax-to-GDP ratio in 2014 in the Czech Republic
According to Eurostat, the overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of GDP, stood at 40.0% in the European Union (EU) in 2014, compared with 39.9% in 2013. Compared with 2013, the tax-to-GDP ratio decreased in 2014 in the Czech Republic.
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OECD's Revenue Statistics 2015: Czech Rep among countries with largest fall in tax-to-GDP ratio
OECD's annual Revenue Statistics published on 3 December shows that the average OECD tax-to-GDP ratio in 2014 was 0.3 percentage points higher than the pre-crisis level of 34.1% in 2007, and has surpassed the previous high of 34.2%, which was recorded in 2000. The average revenues from corporate incomes and gains fell from 3.6% to 2.8% of GDP over the same period. This decline was offset by an increase in social security contributions, from 8.5% to 9.2% of GDP, and a smaller increase in revenues from VAT. Compared with 2013, the largest falls of tax-to-GDP ratio were in Norway (1.4 percentage points) and Czech Republic...
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