The Czech Ministry of Finance forecasts economic growth of two percent in 2020. The office estimates economic growth in 2019 was 2.5 percent. In 2021, the MoF expects an increase of 2.2 percent. In 2019 the economy grew 2.8 percent. The Czech Statistical Office will release data on 14 February. Risks The global economy slowed […]
Volkswagen plans to invest EUR 35 million to upgrade its plant in Martin, Slovakia. The plant manufactures parts for the companies electric vehicles. In connection with the investment, the company also applied for tax relief for EUR 5.04 million. Volkswagen will also introduce new production technologies to expand production at the Martin plant, where the […]
Avast is shutting down its subsidiary Jumpshot that was exposed for selling users private web browsing history. Avast doesn’t deny selling the data. Instead, it claims the data it sells is anonymous and that it has never sold data to third parties that could identify users. Jumpshot launched in 2015 to “provide marketers with trend […]
The coronavirus has sparked a global run on face masks as people seek to protect themselves. But do they work? One Czech company says they’ve invented a mask that does. Do masks protect against coronavirus? Health officials in the US say face masks don’t provide any protection against the spread of the coronavirus and warn […]
Avast is selling its users sensitive data through its subsidiary Jumpshot, US media reports. The company denies the allegations and says it ended the practices described in December. Avast acquired Jumpshot, a manufacturer of PC performance optimization tools in 2013. But analysis of two US servers from the end of last year shows, Jumpshot also serves […]
The government postponed the auction of 5G frequencies. Czech Telecommunication Office (CTO) has been ordered to make the auction more attractive to foreign mobile operators. The auction is expected to add at least CZK 6 billion to the state budget. The opposition is critical of the auction delay. Foreign bidders have zero interest in the […]
International rating agency Fitch Ratings confirmed AA- rated creditworthiness of the Czech Republic. The rating outlook is stable, indicating that the Agency is not going to change the rating in the foreseeable future. According to the agency, the stable outlook reflects expectations that authorities will continue to pursue a relatively sound budgetary and monetary policy in […]
The U.S. will take “appropriate counter-measures’ if the Czech Republic moves forward with a proposed digital tax, the U.S. embassy in Prague said on Friday. The U.S. government has clearly communicated its position regarding digital taxes, embassy spokesperson Ed Findlay said. He referred to a December commentary written by Ambassador Stephen King in Lidove noviny. […]
Tax havens are falling out of favor among Czech companies. At the end of 2019, 12,102 Czech companies were based in offshore tax shelters, down 703 from 2018. Reaching its lowest level in nine years. 2.38 percent of Czech companies currently operate from tax havens. The volume of equity capital of Czech companies controlled by […]