Czech inflation will tick higherthis year due to changes in the value added tax agreed by the ruling coalition last week, Central Bank Governor Zdenek Tuma said on Sunday
Published:
11 February 2004 y., Wednesday
Czech inflation will tick higherthis year due to changes in the value added tax agreed by the ruling coalition last week, Central Bank Governor Zdenek Tuma said on Sunday.
Three parties in the centre-left government struck a deal to cut the basic value added tax rate to 19 percent from 22 percent as of May this year, when the country joins the European Union.
At the same time, many items will be shifted to the base rate from the current preferential 5 percent rate to raise state revenues.
Tuma said on Czech state television that the changes would boost inflation to about 3.5 percent to 4.0 percent at the end of this year from the Central Bank forecast of 3.3 percent in a quarterly inflation update last week.
Analysts expect the bank to keep interest rates steady for several months before it starts raising them from the current all-time low of 2 percent.
Šaltinis:
money.iwon.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
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »