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Czech Republic Cyprus New DTA January 2010 The double taxation tax treaty between the two countries which was signed on April 28, 2009 entered into force on January 1, 2010. The new DTA has some amendments including, inter alia, new tax withholding rates. The new tax withholding rates are 0% for interest, 0%/5% for dividends and 0%/10% for royalties. Czech Republic Tax Rates 2009 April 2009 From 1.1.2009 the new czech corporate income tax rate is 20%, compared to 21% in 2008. The personal income tax rate remains a flat 15% , same as in 2008. The social security rate for employees was reduced from 12.5% to 11%. There are no changes in the standard and reduced V.A.T. rates compared to 2008. Czech Republic New Income Tax Rates January 2008 From 1.1.2008 the new Czech corporate tax rate is 21%, replacing the 2007 corporate tax rate of 24%. The Czech corporate tax rate would go down to 20% in 2009 and 19% in 2010. The new income tax rate for individuals is a flat 15% rate, replacing the 2007 rates of 12% to 32%. The 15% flat rate would be reduced to 12.5% from 2009. From 2008 the joint tax assessment for married couples is cancelled. In 2008 the standard Czech VAT rate remains 19%, while the reduced VAT rate is 9%. Czech Corporate Tax Cut August 2007 The parliment voted for a reduction of the Czech corporate tax, from the current 2007 24% tax rate to 19% in 2010. According to the vote the Czech corporate tax rate would be reduced to 21% in 2008, 20% in 2009 and 19% in 2010. The proposed cut has yet to be approved by the Czech senate. The Czech Republic is expected to adopt the EURO in the year 2012. Czech Republic Income Tax MARCH 2007 he Czech prime minister declared that a major tax reform is nearly certain soon. According to the reform, a new flat income tax rate of 15% would be introduced. At present the Czech income tax rates are 24% for companies and 12%-32% for individuals. Czech Republic Double Taxation JANUARY 2006 From 1.1.2006 there are amended double taxation treaties, replacing existing treaties. The new treaties are between the Czech Republic and France, Moldavia, Norway and Serbia and Montenegro. Czech Republic Income tax JANUARY 2005 From January 2005 the new corporate income tax rate in the Czech Republic is 26%(2006-24%). There is no change in the individual income tax rate,compared to 2004. Czech Republic V.A.T MAY 2004 From 1.5.2004 the new v.a.t rate in the Czech Republic is 19%. (previous rate-22%). Czech Republic new corporate income tax JANUARY 2004 From 1.1.2004 the new corporate income tax rate in Czech Republic is 28% (previous rate-31%).

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