Based on the amendment to the Real Property Tax Act, in case of discrepancy between the data in the land registry and the actual state of affairs, the type of land recorded in the land registry prevails. Taxpayers who historically prepared their real property tax returns based on the actual state of affairs relating to their land may be required to file a tax return in 2021.

Due to a fall in food prices, inflation slowed down more than expected. Core inflation remains elevated. We still expect inflationary pressures will ease due to weakened demand. At the beginning of the year, inflation should be below 2%. Inflation is below market and CNB expectations, and speculation on future rate hikes is declining.

The U.S. Congress early today certified the election of Joe Biden and Kamala Harris to be the next president and vice president of the United States. The events of yesterday, in which a mob entered the Capitol and delayed for a few hours the work of the Congress, represent a disturbing moment in American history that will be impossible to forget, but the institutions of American democracy have weathered the test.

In 2019, companies and public administration invested almost CZK 245 bn in ICT equipment and software. Investment in software and databases has been growing at a significantly faster pace, accounting for two-thirds of the total investment in ICT, than investment in ICT equipment. More than 18% of the total R&D expenditures in the country were spent in the ICT industry.