Property tax expected to increase within planned tax reform

The Finance Ministry is working on a proposed overhaul of the country’s tax system, which should be presented to the government in the spring. The package should be put to a vote in Parliament later this year in view of being implemented in the projected draft budget for 2024. According to Finance Minister Zbynek Stanjura property tax is likely to see an increase. According to some coalition MPs it could be doubled. In view of the present economic and demographic situation the government has announced that it will need to adopt reforms that will increase budget revenues. In addition to tax hikes, the labour minister has indicated that the debated pension reform may mean further increasing the retirement age, possibly to 68 years of age, which would be the highest in Europe.