PragueConnect.cz - Economy

PragueConnect.cz is providing resources for English speaking Business Professionals living in, visiting, or interested in Prague and Czech Republic. Browse our latest Economy articles, if you have interesting content to share with our users, please feel free to contact us anytime to discuss with us possible publication on PragueConnect.cz!

VAT evasions total up to CZK 80bn

Tax evasions total ca. CZK 80bn on VAT alone, says General Financial Directorate’s general director Martin Janecek. Mr. Janecek has stated in Czech Television’s political discussion show Otázky Václava Moravce that carousel frauds and fictive reports account for two thirds of the evasions. This practice should be suppressed by the controlling VAT reports from next year. Mr. Janeèek has stated that the effect of CZK 5-7bn will come automatically after the system’s launch, as the system will reveal the most primitive tax evasions. The remaining one third of VAT evasions stems from the abridgement of revenues, which will be resolved by electronic registration of revenues.

Source: www.cianews.cz 

 
 
 
 
Sign up for Prague’s hottest newsletters to stay up to date and know what’s going on in town! Prague Daily Monitor: Prague’s # 1 source for Czech news in English… delivered straight to your inbox daily. Sign up for free nowPrague.TV – Living Like a Local: 2x a week, our newsletter keeps you up to date with the HOTTEST and BEST news for Prague's Expats and English Language community. Exclusive price draws & Special partner offers for registered members. Sign up for free now!

 

Exchange rates
Upcoming Events