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Social Democrats stated that the new tax cut – the abolition of the super-gross wage – will not benefit any citizen in the Czech Republic. The new proposal, which was agreed on by the Chamber of Deputies, cuts the tax rate from 20% to 15% for low and medium-income groups. For high income groups, the tax will increase to 23%. Following the abolition, which is supposed to last two years, most of the citizens’ income will rise significantly. Therefore, if one makes 16000 CZK, his net wage would increase by 825 CZK; if 36000 -by 1845 CZK; if 80000 – by 4080 CZK. According to the calculations, the tax cut will benefit the employees who make under 140,000 CZK whileRead more.

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According to a recent survey by STEM/MARK, Vaclav Havel is still the most favoured “Post November” (Post Velvet Revolution) Czech president by Czech people.  Havel, the last president of Czechoslovakia and the first president of the Czech Republic, scored highest  with almost every age group, including the over 60 years old demographic who was thought to be totally dedicated to current president Miloš Zeman.  Jan Burianec of STEM/MARK said Zeman’s loss of popularity is likely due to his total absence from the media, rarely making any sort of statements or appearances and slipping away from the news cycles. “We believe this is probably because of the President’s lack of media presence during the first wave of the coronavirus crisis whenRead more.

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In an effort to stem economic damage from the coronavirus pandemic, the Czech government has spent more than 100 billion Kč on various forms of stimulus, with at least 170 billion Kč more to come. Alena Schillerová, minister of finance for ANO, said on Sunday: “Just in direct support alone, we’ve taken 270 billion Kč worth of stimulus measures, which is already being distributed. Our goal is to implement all our relief programs in the shortest possible time.”  The anti-covid-19 measures come amid a massive drop in tax revenues, causing a widening of budget deficits across the board. The federal government has paid at least 13.3 billion Kč in compensation to self-employed people, with at least 6.8 billion Kč ofRead more.