Friday, September 7, 2012

Czech Parliament Maintains Flat Tax

On September 5, 2012, the Chamber of Deputies (lower house) of the Czech Parliament voted to reject Prime Minister Petr Necas’ proposal to impose a second tax rate of 26% on upper-income households, which would convert the country's 19% flat tax into a graduated tax with two rates of 19% and 26%.

The AP reported that the government (the prime minister and his cabinet) will resubmit the tax-rate increase to Parliament in three months as part of a no-confidence vote against the government.  If Parliament rejects the increase a second time, the government will fall and new elections will be called.

President Vaclav Klaus and several deputies of the ruling Civic Democratic Party stated that the tax increase was against their party’s values.


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Stephanus Sonata said...

Nice article, thanks for the information.
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Clemencia said...

It's right for everyone to have a fixed tax rate whether they are part of the lower or upper class. In other countries, people with lower income suffer the most. While it would not be fair to either if those people who earn more will have a higher tax rate. After all, the more that they can spend, the more money will circulate and help to stimulate the economy.

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Zagen Germaine said...

If you had the choice between taking out $40,000.00 of your inherited cash which is part of a larger IRA to pay off debts (but did not have to sell stocks to get that $ & your tax bracket is $15% but perhaps less since I am on SSD & earn less than 14,000.00 a year) or take out a 9% re-fill on a 2nd home, which is being rented for $1000.00 a month that will be sold in 3 years with a contract)- is it as simple as comparing interest rates to decide that a 9% re-fill is a better deal than a 15% deal? ( the 9% is non-negotiable as I can only get a "no doc/no asset loan" at that tax brackets unfortunately)or are there other matters to consider.

Jason Murphy said...

Its nice to hear that, if increase in tax rate is justifiable then its should be levied upon high income earning tax payers and low tax rates for low income earners.

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