Bloomberg News

Czech Government May Need to Raise VAT to Reduce Budget Deficit

October 05, 2011

Oct. 5 (Bloomberg) -- The Czech government may need to raise the value-added tax rate to continue reducing the budget deficit because it has limited room to cut spending, Deputy Finance Minister Jan Gregor said.

Gregor was speaking in an interview on the Radio Impuls.

The Cabinet plans to unify the VAT rates, currently standing at 10 percent and 20 percent, at 17.5 percent in 2013.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Peter Laca at placa@bloomberg.net


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