Czech Business Today
Volume XX, 7-2022
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Czech Digital Week
At the beginning of November, the Czech Digital Week took place under the auspices of the Czech Presidency, focusing on… continue reading »
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Czech Republic and a significant step to obtain part of the funding from the National Recovery Plan
The Czech Republic has submitted its first request to the European Commission (EC) to disburse funds from the National… continue reading »
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Tripartite meeting: the state needs to sort out help with energy prices
The energy crisis has brought several priority challenges requiring quick and unusual solutions. In the context of the… continue reading »
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EESC: What happens to the electricity market design?
Central banks around the world are currently discussing and deciding on whether to introduce a central bank digital… continue reading »
Flash news
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Subsidies to help with high energy prices
Businesses can apply until 31 January 2023 for subsidies from the Large Business Assistance Programme to help with high gas and electricity costs under the European Commission’s Temporary Crisis Framework. Companies whose gas and electricity prices have doubled compared to the previous year between February to October 2022 can apply for subsidies. The capping of energy prices only applies to small and medium-sized enterprises, and the larger ones use this subsidy programme under which 30 billion CZK are available.
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End of electronic evidence of sales
The Czech Republic has approved the end of mandatory electronic sales evidence (EET) at the end of 2022. The evidence was suspended in the spring of 2020 due to the pandemic of covid-19 and became voluntary. An overwhelming majority of MPs in the ruling coalition voted to abolish the EET. According to the MPs, sales evidence represents an unnecessary cost for the state and a burden for entrepreneurs. The evidence has been in force since 2016 for accommodations and restaurants and since 2017 for entrepreneurs.
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The windfall tax
The Chamber of Deputies of the Czech Republic has approved a windfall profits tax for energy companies and banks. This tax revenue will cover the state’s extraordinary costs associated with the energy price cap. The tax will apply from 2023 to 2025, and the rate will be 60 %. The tax is expected to raise CZK 85 billion in 2023, and it is already included in the draft budget for the following year. However, the approval of this tax poses a risk of Czech energy companies moving to other countries.
