Government approves plan to introduce central bank account register

The Czech government has approved a plan to establish a central bank account register. The database, which should be launched in January 2016, will include all private and corporate accounts run by Czech banks and credit unions, Finance Minister Andrej Babiš said. The register should allow tax authorities to monitor the length of existence of the accounts in order to curb tax evasion, according to the finance minister who said that information on account balances will not be included in the register.

Author: Jan Richter