The Olomouc tax office has come under fire for asking close to one hundred newlywed couples to provide financial details regarding their wedding feast and number of guests who attended. The case has thrown a negative light on the law on electronic cash registers which has already been criticized by the opposition for invading people’s privacy and putting an excessive administrative burden on entrepreneurs.
Another five companies and one institution have joined the campaign of the Czech Ministry of Environment called #dostbyloplastu or “Enough of Plastics,” which aims to prevent and reduce the use of single-use plastic products. The news was announced by environment Minister Richard Brabec at a press conference on Monday.
The PPF Group controlled by Czech billionaire Petr Kellner is looking to sell its commercial lender Air Bank and consumer loans arm Home Credit to the Prague-listed lender Moneta Money Bank. The deal would create the third-largest bank by network in the Czech Republic, and the fifth largest by assets.
The Australian-based mining company European Metals Holdings is continuing with preparations for lithium mining in the Czech Republic, despite the fact that the Czech government does not consider the memorandum on the extraction and processing of lithium, signed with EMH last year, legally binding and wants a Czech state-run company to mine and process the deposits. The company Geomet, which is part of EMH, has begun preparations for a series of drills near Cínovec in order to ascertain the economic viability of the project.
The availability of housing in the Czech Republic is the worst in Europe, with a new flat amounting to 11.3 multiple of an average annual income, suggests a study carried out by the international consultancy Deloitte in 14 European countries. Last year, Czechs needed 10.9 of an average annual income to buy a new 70 m2 flat.
Just before the start of the 2018 Paris Motor Show, Czech automobile manufacturer Škoda revealed its new SUV model - Škoda Kodiaq RS. Speaking at the preview event in France, Škoda CEO, Bernhard Maier, further stated that the car maker has already produced over a million cars in 2018, setting a new production record.
Statistics show that close to one in ten adults face financial execution. Against this backdrop, MPs are set to debate amendments to the Insolvency Act which aim to make it easier for people to qualify for debt relief – and thus avoid declaring personal bankruptcy. But are so many Czechs really in debt up to their ears?
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