Czech Government Abolished Property Acquisition Tax; Cinemas to Open on May 11

The Czech Government has officially announced to have abolished the tax on immovable property acquisitions and at the same time cancel tax deductions for new mortgages.

Immovable property acquisition tax is paid by the buyer, amounting to 4% of the tax base, determined specifically according to the manner in which real property has been acquired, i.e. purchase, transfer, auction, or insolvency.

The cancellation of interest deductions should neither apply to contracts that have already been concluded nor to contracts that are new but have only been concluded to refinance existing mortgages.

From May 11, ninth-graders students will return to school, cinemas, and theaters, can reopen. Minister of Health added that there will be strict rules for visitors, such as a safe distance between them.

Sports and cultural events (up to 100 people) will be able to take place again. The rule will also applies to weddings and church services.

From 1 May, children under the age of 7 will no longer have to wear face masks in kindergartens. Ministers also confirmed the extension of the state of emergency until 17 May.

Large music festivals will not be able to take place until mid-October. The government has proposed an amendment to the law according to which organizers of large cultural events will be able to offer vouchers for future cultural events, instead of reimbursing tickets sold.

Colors of Ostrava has just announced to have canceled its 2020 edition.

From May 11, shopping malls and larger shops are also set to reopen, along with outdoor restaurants and pubs, hairdressers, and museums.

The last phase is due on May 25 with restaurants, pubs and hotels returning to action.

The Czech Republic declared a state of emergency on March 12. Over the following days, schools and universities were closed; all sporting, cultural and religious activities were banned; retail stores, except grocery stores and pharmacies, were shut; and movement was limited to travel to and from work, and shopping for essential items.

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