Did you know that the Czech Republic is one of the most favorable countries to invest in when it comes to taxation? Preceded only by Luxemburg or Switzerland, the Czech Republic offers perks such as no acquisition tax, tax benefits for residents, favourable deductions for rental income, and even no tax to pay on profit if you own the property long enough. One of the most positive parts when it comes to property investments is actually the tax systems. Yes, I do mean positive… I am not mistaken. Speaking to foreigners from all around the world, I often get surprised looks when I explain there are almost no taxes to keep in mind when buying a property here. If we compare to other acquisition costs like solicitor fees in the UK or annual property taxes in the US, here we have really nothing to complain about. Let’s take it step by step: Before 2020, there was a 4% acquisition tax paid to the country’s financial office and which was an obstacle to purchasing property for many people. Luckily this requirement was removed during the Covid pandemic so now you do not need to think of extra 4% to pay from...
The Czech Republic has been elected to the Executive Board of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) in Paris, and will serve from 2023 to 2027. “The Czech Republic has just been elected to the UNESCO Executive Board,” the Foreign Ministry said on the social network X. Adding that one of the topics the Czech Republic will focus on, during its mandate, will be the transformation of education, and the protection of cultural and natural heritage. The Executive Board, together with the General Conference, is UNESCO’s governing body and is made up of 58 member countries, elected by the Conference according to their respective electoral groups. The last time the Czech Republic was a member of the Executive Board, within the Central and Eastern European Group, was between 2012 and 2015. UNESCO was founded shortly after World War II to develop cooperation in education, science, and culture. In the latter area, it is best known for its World Heritage List, in which the organization includes the world’s most important sites. As for the Czech Republic, its first additions to the UNESCO World Heritage List were the Historic Centre of Prague, the Historic Centre of Český Krumlov, and...
Saying the words “From the River to the Sea, Palestine will be free” may be considered a criminal offence in certain circumstances, Czech authorities informed on Wednesday. The Czech Interior Ministry, police officers, prosecutors and the Prague city representatives discussed measures to fight anti-semitism during public gatherings at a meeting on Wednesday. “The conclusion of the discussion is that the use of the slogan From the River to the Sea Palestine will be free is problematic in the context of the Hamas attack against Israel on 7 October 2023 and could fulfil the elements of a criminal offence,” Czech Interior Ministry spokeswoman Klára Dlubalová informed. According to the ministry, anyone using such a slogan could potentially be guilty of supporting and promoting terrorism, inciting hatred against a group of people, or denying, questioning, condoning or justifying genocide. “The link to the Hamas movement and other organisations calling for the destruction of the State of Israel is unambiguous, according to the Interior Ministry, and the slogan has historically been used by the majority in conjunction with a clearly stated demand for the destruction of the existence of the State of Israel and the elimination of part of the population by any...
Six banks have launched a service that will enable clients to send payments using only a person’s phone number. The payment-to-contact service aims to simplify transactions and reduce errors. Clients who wish to use the service will have to register their phone number with the bank. Two more banks expect to launch the service within the next year. The banks which have already launched the service are Air Bank, Česká spořitelna, ČSOB, Fio banka, Komerční banka and Raiffeisenbank. “ČSOB enables these payments via the ČSOB Smart app, where it is possible to simply search for the recipient in the directory of mobile contacts. The ČSOB Smart application always first notifies the user whether the recipient is registered and therefore it is possible to make a payment to the contact,” explains Vladimír Vojtíšek, Executive Director for Daily Banking at ČSOB. “Probably few people remember their bank account number off the top of their head, but almost everyone recalls their mobile number. That’s why we believe in its expansion,” says Jiří Suchý, Director of Products and Innovations at Air Bank. “In the modern banking world, it’s crucial to move with the times. Raiffeisenbank is among the first banks to make Payment on...
In a frightening armed robbery Monday in San Francisco, three attackers stole cameras and footage from Czech Television correspondent Bohumil Vostal and cameraman Milan Nosek. Police arrived minutes later as the criminals fled in a dark sedan. According to the San Francisco Chronicle, the robbers pointed a gun at Nosek’s stomach and Vostal’s head while stealing over USD 18,000 worth of equipment, thwarting their coverage of Asia-Pacific Economic Cooperation events. “They were heading at my camera man, aiming a gun at his stomach, and one at my head,” Vostal said in an interview Monday, growing breathless as he recounted the harrowing incident at 5 p.m. the night before. Vostal is among hundreds of international correspondents who flocked to San Francisco this week for the Asia-Pacific Economic Cooperation summit, an event drawing some of the world’s most powerful leaders to downtown and Nob Hill. Like many reporters, Vostal had seen news coverage of unruly shoplifters, open-air drug markets and commercial vacancies, but he hoped to portray the city in a more positive light. He and his crew from a public television station in the Czech Republic had captured shots of the Painted Ladies in Alamo Square, interviewed gallery owner Jonathan Carver Moore and met with community...
Representatives from over thirty Czech universities have joined forces and signed a letter, calling on authorities and academic leaders to combat the rise of anti-Semitism within the academic sphere, emphasising the need for decisive legal measures against any expressions of hatred. The appeal addresses concerns about the tearing down of posters commemorating the Jewish victims from the 7 October kidnappings, denouncing the violent invasion by Hamas terrorists in southern Israel from the Gaza Strip. The letter condemns anti-Jewish slogans and calls for the genocide of Jewish citizens, both of which were allegedly heard at pro-Palestinian demonstrations and on social media. “Many students of our universities are also involved in these activities,” they said in the letter seen by the Czech News Agency. In the appeal, the authors reject passive acceptance of hate speech, asserting that it cannot be disguised as freedom of speech or academic dialogue. “We ask all competent institutions and the leadership of schools, faculties and departments not to allow the spread of prejudiced hatred often disguised as anti-Zionism or criticism of capitalism or colonialism. Of course, we assume that they will act in the same way towards any manifestations of intolerance against anyone,” the text reads. Additionally,...
A recent Ipsos study for Creditas Bank uncovered that every sixth person in the Czech Republic can only set aside a maximum of five hundred crowns each month. Half of the respondents don’t save even CZK 2,000 a month, and a third of households have savings ranging from one CZK 100,000 to half a CZK 500,000. The study also disclosed that almost half of the respondents admitted their savings wouldn’t cover a three-month interruption in income. Approximately one in five are striving to save for housing. However, those who do often mishandle their savings, depriving themselves of potential returns. “Seven in ten respondents keep their savings in cash or a current account,” warned Ivana Pícková from Creditas. She cautioned that a million crowns deposited in a non-interest-bearing current account would earn nothing in a year. Depositing the same amount in a savings account would yield around CZK 50,000 annually at today’s average interest rates. The most popular saving tools are cash, with 71% of people having savings, and savings accounts used by 69% of respondents. This is followed by state-subsidized products, such as pension savings, building savings, and investment funds. Pension insurance is held by 64% of respondents, and making...
According to a proposal by the Energy Regulatory Office (ERO), the regulated price of electricity in the Czech Republic is expected to increase by 71 percent, next year. Which would result in an annual increase of around four thousand crowns for one household. What does the ERO’s proposal state? The ERO’s proposal states that the regulated price of electricity should increase by 71 percent next year compared to this year. After including VAT, Czech electricity will increase by an average of CZK 1,408 per megawatt hour. According to data, the average Czech household consumes around three-megawatt hours of electricity per year. However, following the increase in the regulated component, it will cost Czech households around CZK 4,200 per year. What is the regulated component? Energy billing in the Czech Republic consists of two components. The first part of the price is the price per commodity, which can be influenced by individual suppliers, and the second part is the regulated component, the amount of which is decided by the ERO. Why is this happening? Up until now, the state has partially been subsidizing energy for Czech households. However, this is about to change, and consumers will have to pay again, for...
Former foreign minister, senator and honorary chairman of TOP 09 party Karel Schwarzenberg has died at the age of 85 after a long illness. The one-time presidential candidate, noted for his pro-European views, had been hospitalised in Vienna for the past few days. Mr Schwarzenberg, who had both Czech and Swiss citizenships, was born in Prague in 1937 into a noble family, which was forced to flee the country after the communist coup in 1948, settling in Vienna. In the 1980s, Mr Schwarzenberg served as president of International Helsinki Federation for Human right, negotiating the question of human rights in former USSR, Bulgaria, Kosovo, and in Czechoslovakia. After his return to Czechoslovakia in 1989 Mr. Schwarzenberg served as the chancellor to president Václav Havel until his abdication in 1992. Former Minister of Foreign Affairs (2007–2009, 2010–2013) and former First Deputy Prime Minister (2010–2013), Mr. Schwarzenberg was also a Member of the Senate of the Czech Parliament (2004–2010). During the first half of 2009, he served as the President of the Council of the European Union. In 1991, he was awarded, together with Lech Wałęsa, the Council of Europe’s Human Rights Award. In 2009, Karel Schwarzenberg, together with Miroslav Kalousek, founded...
Just north of Prague, around an hour’s drive from the capital, lays a small, preserved town called Mělník which rests in the central Bohemian Region of the Czech Republic. The town’s history consists of lavish tales of royalty and saints, which is preserved in the very walls of the beautiful Mělník castle, which still stands tall and proud to this day. First built in the 9th century entirely out of wood, the castle, frequently referred to as the ‘chateau,’ has had a long history of change. Part of its vast architectural journey featured the likes of the prominent and noble Lobcowicz family, who redid the chateau using stone in the style of Romanesque, a transformation from its previously wooden frame. It would later be rebuilt again, as with the changing of times, in gothic style, which has a notoriously prominent relationship with literature, especially in the plots of English novels. Its gothic makeover came in the 13th century when the wives of Bohemian princes owned the town and its Queens resided there. It was around this time that the last wife of Emperor Charles IV built the chapel of the castle, solidifying its gothic roots. In the years that followed,...
People can donate non-perishable foodstuffs that will then be redistributed to those in need.
Family Brewery Bernard has been awarded the title of the best brewery by the Czech Association of Friends of Beer (Sdružení přátel piva) in 2023. It received the prestigious Pivovar roku award for maintaining consistently high product quality, making strategic investments, and continuously improving production. Pivovar Kamenice secured the second position, while Pivovar Únětice claimed the third spot. The Association of Friends of Beer, comprising the largest Czech breweries, mini-breweries, and industry professionals, determines the best brews and producers through a poll among its 1,500 members. In the mini-breweries category, the top performers were: Pivovar Rampušák Pivovar Volt Pivovar BadFlash Experts also singled out the best beer brands in various categories: Světlé výčepní pivo or “desitka” (beer with an initial wort extractivity of 10 per cent): Hektor, světlé výčepní (Řemeslný pivovar CLOCK) Fabián desítka (Pivovar Hostomice) Bernard desítka (Rodinný pivovar Bernard) Světlý ležák (light lager): Prostě Světlý Ležák (Pivovar BadFlash) Fabián 12%, světlý ležák (Pivovar Hostomice) Muflon, světlý ležák 11° (Pivovar Kunratice) Strong beer (13% and above): Primátor 16 Exkluziv (Pivovar PRIMÁTOR) Dalešické Májové 13% (Pivovar Dalešice) Festpils Konspirátor (Pivovar Ovipistán, Pivní rozjímání a létající sládek Aleš Dvořák) Tmavé and polotmavé pivo (dark and semi-dark beer): Černá Svině...
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