Economic policy
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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Spotlight issue
Czech inflation unexpectedly slows
CPI decelerated to 2.3% in September due to falling prices for package holidays and newly-introduced bus and rail fare discounts for pensioners and students across the country. This is no game changer for the central bank, which we expect to hike rates in November CPI decelerated to 2.3% in September due to falling prices for package holidays and newly-introduced bus and rail fare discounts for pensioners and students across the country. This is no game changer for the central bank, which we expect to hike rates in November
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Czech manufacturing PMI at two-year low
The September manufacturing PMI declined further to 53.4, hitting the lowest level in the past two years. Still, this is in line with expectations that Czech industry growth will slow down towards 3% this year
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IMF: International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots: A 1 percentage point larger tax rate differential reduces reported pre-tax profits of an affiliate by 1 percent.
According to a recent IMF working paper on tax avoidance, called International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots, a 1 percentage point larger tax rate differential reduces reported pre-tax profits of an affiliate by 1 percent. The authors believe that this estimate is larger than the consensus so far and the semi-elasticity has increased over time; a value of around 1.5 applies to the most recent years.
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