Ernst&Young: Czech companies pay one of highest taxes in Central Europe
The consultancy Ernst&Young has said that taxes paid by Czech companies are among the highest in Central and Eastern Europe. Malta is the only country among the ten new EU members where companies pay even more. The situation is expected to change in the foreseeable future. Since 2003, corporate taxes in the Czech Republic have fallen by 3 percentage points, and another cut can be expected soon. Czech companies pay some 28 percent of profit in taxes, but the real tax is lower owing to deductibles and tax reliefs. Real taxes stand at some 24 percent.