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Benefits and drawbacks of the 2020 amendment to the Czech General Fiscal Code
What’s new in the amendment to the Czech General Fiscal Code? More straightforward review procedures, lower default interest, electronic communication with the taxman, among others.
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The end of the year was in a rush in the field of investment in commercial real estate and confirmed both the dominance of Prague and Czech investors
The volume of investment in commercial property in Prague approached 80% of all Czech transactions last year. Even though they reached a total volume of €1.2 billion. The end of the year was relatively hectic. For example German investment company Deka Immobilien sold the Lighthouse Towers administrative complex in Prague's Holešovice to Czech firm Star Capital Investments just a few days before the arrival of the new year. According to CBRE, the world leader in commercial real estate services, there were more than twenty running negotiations in the last calendar month that will be closed during this year. Transaction volume in commercial real estate in 2020 will reach in the Czech Republic €3 billion. And office buildings will be once again the most demanded.
The Czech economy will continue slowing down in 2020 and unemployment will remain low
The Czech economy will be marked by continued slowdown in 2020, with GDP growing by 2.0%. Despite the slowdown in growth, the unemployment rate should remain at a very low level, at around two percent. The average wage will rise by the lowest percentage in three years, 5.7%. Inflation is expected to be 2.5-3.0% during 2020. These are some of the conclusions of the 2020 analysis of the economic outlook compiled by Deloitte's economic team.
EY: Geopolitical uncertainty and trade tensions plague 2019 IPO landscape; 2020 set to rebound
- 2019 was lackluster year for IPO activity with deals and proceeds down overall
- Technology sector dominates with 263 IPOs raising US$62.8b in 2019
- 2020 expected to see more robust IPO activity, particularly in the first half of the year
Geopolitical uncertainty and trade tensions heavily impacted the 2019 IPO landscape, pushing overall IPO activity down in terms of deals and proceeds. 2019 has registered 1,115 IPOs with proceeds of US$198b – a 19% fall in deal volume and a 4% decrease in proceeds compared with 2018. However, as US-China-EU trade tensions, concerns about economic growth and other geopolitical issues – including Brexit and social unrest in Hong Kong – subside, a healthy increase in IPO activity is expected in 2020, particularly in the first half of the year, as markets are expected to become more volatile leading up to the US Presidential elections.
Strategic Directions for Czech Economic Policy
- Transition to High-Tech Manufacturing and Exports
- The City Campus as Idea Factory
- Government Programs and Processes That Drive Innovation
- Government as a Competitive Advantage, including Digitization
Advocacy Priorities for 2023
Technology, People, Infrastructure
Actions Recommended in Areas:
1. Establishing Policy Objectives for Research.
2. Research Investment and Cooperation. Big Bets (Key Technology Projects).
3. Establishing Databases for Tracking Public Policy Outcomes.
4. Public Procurement as an Innovation Tool.
5. Immigration of STEM Talents.
6. Digitization of Immigration.
7. Adult Reskilling and Upskilling.
8. Digitization of Land Use.
9. Infrastructure Development, including Technology Parks.
Read the documents in English and Czech.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
