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January 2008 New Income Tax Rates 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%. August 2007 Czech Corporate Tax Cut 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. MARCH 2007 Income Tax The 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. JANUARY 2006 Double Taxation 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. JANUARY 2005 Income tax 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. MAY 2004 V.A.T From 1.5.2004 the new v.a.t rate in the Czech Republic is 19%. (previous rate-22%). JANUARY 2004 From 1.1.2004 the new corporate income tax rate in Czech Republic is 28% (previous rate-31%).

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