The Czech government wants to impose a seven-percent tax on large digital
companies, such as Facebook and Google. Under the plan, agreed by the
cabinet on Tuesday, the multinational companies would have to pay taxes in
the place they make earnings.
The cabinet is hoping the move could lead to increased revenues of around five billion crowns a year. The Ministry of Finance is due to draft a digital tax bill by the end of May.
US company Apple launched its Apple Pay service in the Czech Republic on
Tuesday. The contact free system, which is linked to payment cards, allows
people to use their Apple mobiles and watches to make payments.
Google Pay, a similar product, was already available in this country for users of phones and watches using the Android operating system.
E-sales on Black Friday reached a record 4.2 billion crowns, according to
the Association for Electronic Sales. This amounts to a 19 percent increase
On Friday E-shops saw a 300 percent increase in sales as compared to regular days. The annual sales event was so successful this year that Alza decided to stretch it to a fortnight. An increasing number of Czechs have got used to buying Christmas gifts online.
Czechs spent 51.5 billion crowns in e-shops in the first half of the year,
11 per cent more in annual terms. Growth slowed during hot weather, which
came to the Czech Republic in April.
Overall spending is expected to rise, as since last year the Czech Republic has the largest number of e-shops in Europe per capita, while brick and mortar stores increasingly offer goods online. In 2017 e-shop sales grew 18 per cent to 115 billion.
Number of Czech internet stores accepting Bitcoins for payments has
increased tenfold over the past four years to around 1,000, the Czech News
agency reported on Sunday.
Among the shops that started accepting the digital currency is Czech largest online retailer Alza, which has also installed a Bitcoin ATM in two of its showrooms. Last year, the Comfort Finance Group CFG established the first Czech cryptocurrency fund.
Czech Republic has taken a top spot in Europe in terms of internet sales, according to data released by the research agency GfK and the Czech Confederation of Commerce and Tourism on Tuesday. More than 43 percent of technical or non-food goods in the country are currently sold online, according to the study.
More and more Czech women are opening their own e-shops, according to a survey by the company Shoptet, providing a platform for some 13,000 online stores. Citing the findings, every sixth e-shop on average is owned by a businesswoman rather than businessman, Czech Radio reports. For many, opening an online store begins from a hobby, anything from clothing for pets, to doll collecting or board games. Gradually, their passion becomes their business.