Czech Republic: Pirates/STAN plan digitalisation, corporate tax hikes

  • Coalition plans CZK 980bn public investment in next four years, CZK 480bn to be funded through EU grants and rest through a proper development bank
  • Pirates/STAN intend to bring public finances to SGP rules by 2024-2025, so it looks like fiscal deficit will remain high in next few years
  • Digitalisation of public services should save about 1% of GDP annually, but no immediate cuts in civil servants are planned
  • Corporate income tax rate to rise by 2pps to 21%, digital tax to be up to 5%; no bank asset tax planned
  • Pirates/STAN to start working on ERM2 entry, but no hard commitments are being made

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