Entrepreneurs say reform measures would harm small businesses
Published:
5 December 2003 y., Friday
Though President Vaclav Klaus' vetoes of a pair of finance reform bills late in November caused a stir in Czech political circles (See story, page A10), they were hailed by another influential group - this country's entrepreneurs and businesspeople.
"We welcome the move," said Pavel Bernasek, vice-chairman of Prague-based exporter Ecimex Group. "The state shouldn't support the failing health care system by taxing employers."
One bill vetoed by Klaus mandates higher health insurance payments by employers.
The Czech Chamber of Commerce has warned that public-finance reform will mainly weaken small businesses, a group that is endangered by the looming European Union entry. The Czech state is heading down a bumpy road with its tax policy, critics say.
The government is looking to reduce the deficit this year and not in the years to come, said American Chamber of Commerce President Weston Stacey, calling the reform short-sighted.
Compared to its neighbors, the Czech Republic has a relatively high corporate tax rate. All candidate countries intend to lower their rates. Slovakia's government recently approved a flat rate of 19 percent, to take effect next year. A proposal in Hungary aims to slash corporate tax from the current 18 percent to 16 percent. Meanwhile, the Czech government is discussing a gradual push downward from 31 percent to 24 percent by 2006.
Šaltinis:
praguepost.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.
more »
The Banker's Exchange is joining forces with Chicago-based Intergam Logistics as part of a global expansion initiative into the ATM support market.
more »
Lisbon treaty and financial supervision dominate debate at EU summit.
more »
In the most sweeping financial reform proposal since the Great Depression, President Barack Obama unveiled plans to overhaul the U.S. financial regulatory system, saying the events that led to the U.S. financial crisis make the proposed changes necessary.
more »
Due to the rising concerns on a possible disruption of Russian gas supplies to Europe coming through Ukraine, the Commission has chaired a meeting of the Gas Coordination Group to assure a stronger EU coordination and to secure energy supplies to European citizens.
more »
Mexico signs an agreement with Google to help revive tourism at its historical sites, after the swine flu epidemic.
more »
The recession could hit working women harder than men, an EU study warns, underscoring persistent disparities between the sexes in the European labour market.
more »
The first 4 months of 2009 saw 25 percent more FBI background checks on prospective firearm buyers compared to the same period last year in US.
more »
AS “Latvijas Krājbanka”, managed by AB Bank SNORAS, was presented with the annual prize of Deutsche Bank AG, one of the largest European banks, for the excellent quality of the outgoing payments.
more »
Danske Bankas has made another increase in the interest rate for fixed-term deposits in litas for both private and corporate clients.
more »