President Klaus returns VAT bill to Chamber of Deputies for further debate

18-07-2003

President Vaclav Klaus has vetoed a proposed increase in value added tax. The tax increase would see VAT on some products and services rise from 5 percent to 22 percent and is intended to bring an extra 11 billion crowns into the state coffers. A spokesman for Mr Klaus said on Friday that the president was unhappy the Senate had not ruled on the proposed changes. The bill now returns to the Chamber of Deputies for further debate.