Economic policy / Tax & Finance
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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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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E15.cz: Cryptocurrencies do not exist, blockchain is the future, says Jean Lemierre, Chairman of the Board of Directors of BNP Paribas
One of the largest European banks, the French BNP Paribas, strengthens its activities in the Czech Republic. With its new Hello bank brand it targets young clients and cooperates with fintech companies. "The Bank is designed to expand the use of digital technologies that are popular with young people. We are doing the same in Germany," says BNP Paribas Chairman Jean Lemierre to E15.cz
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