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The tax system of the Czech Republic is similar in its main features to the systems of developed and especially European countries. Czech Republic's current tax system was put into administration on 1 January 1993. Since then, an updated VAT act was introduced on 1 May 2004 when Czech Republic joined the EU and the act had to correspond to EU law.
Oil and gas. Oil and gas deposits in the Czech Republic are in Moravia . Crude oil from Russia comes through the Druzhba pipeline via Ukraine. The Ingolstadt–Kralupy–Litvínov pipeline can bring crude oil from Germany and be connected to the Transalpine Pipeline . The Country has two refineries, owned by Česká rafinérská.
In 2012, Czech government increased VAT. Basic VAT was increased from 20% in 2012 to 21% in 2013 and reduced VAT increased from 14% to 15% in 2013. Small enterprises sales decreased by 21% from 2012 to 2013 as result of increasing VAT. [48] Patria.cz predicting sales stagnation and mild increase in 2013. Another problem is foreign trade.
(Bloomberg) -- The Czech government proposed to raise 149 billion koruna ($6 billion) over the next three years by imposing windfall taxes on the biggest companies in selected industries to fund ...
The updated energy strategy of 2019 envisions a gradual phase out of coal power share in total electricity generation from 2015's 46.2% down to 15.5% by 2040. The strategy sees nuclear energy as a non-carbon source of energy to be used during a slow transition to renewables in order to minimize the use of carbon-emitting fossil fuels that cause ...
The EU VAT system is regulated by a series of European Union directives. The EU VAT is based on the "destination principle": the value-added tax is paid to the government of the country in which the consumer who buys the product lives. Businesses selling a product charge the VAT and the customer pays it. When the customer is a business, the VAT ...
Solar potential in the Czech Republic Solar panels in Prague. The Czech Republic had almost two gigawatts (GW) of photovoltaic capacity at the end of 2010, but installed less than 10 megawatts (MW) in 2011 due to the feed-in tariff being reduced by 25%, after installing almost 1,500 MW the year before. Installations increased to 109 MW in 2012.
ČEZ Group ( Czech: 'Skupina ČEZ'Č eské E nergetické Z ávody) is a conglomerate of 96 companies (including the parent company ČEZ, a.s. ), 72 of them in the Czech Republic. Its core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction.