Finance Minister Schillerová: Some tax increases will be unavoidable

Finance Minister Alena Schillerová of ANO says the government will not be able to avoid raising some taxes. Possible measures could include higher excise and refinery taxes, as well as other levies.

Speaking in a debate program on Czech Television on Sunday, Schillerová said several options were being prepared, including possible taxation of investment properties and certain addictive or otherwise harmful substances.

She said a combination of higher revenues and lower spending could save around 20 billion crowns or possibly more in the state budget. About half of the savings could come from higher revenues, primarily taxes. Schillerová said she now had a package of measures prepared and would present what she considers the most suitable options to the coalition.