This May some 88 companies went belly up, the highest number of
bankruptcies in two and a half years, according to the Czech Credit Bureau
(CRIF). The figure is up by 35 compared to April.
Last month 551 people in business for themselves also declared bankruptcy, the highest number since May 2018.
Despite the relatively high number of bankruptcies in May, their number continues to decline in the long term, CRIF analyst Věra Kameníčková said, commenting on the figures.
Ahead of the 30th anniversary of China’s crackdown on peaceful pro-democracy demonstrators in Tiananmen Square, Radio Prague spoke to Filip Jirouš, coordinator the China-watching think tank Sinopsis, about the politics behind some of the more controversial aspects of business dealings between the countries. A harsh critic of China’s sweeping Belt and Road Initiative, to which the Czech Republic has signed on, and the main Chinese investment vehicle here, CEFC, he further argues allowing Huawei to roll out the 5G network would be a disaster.
A recent conference on business and investment opportunities in Africa organized by the Czech Foreign Ministry, focused on innovative forms of investment and modern technologies. Titled “Creative, Innovative and Participative Africa” the event brought together ambassadors and business representatives, underlining Czech interest in establishing new partnerships and projects on the African continent. I spoke to Deputy Foreign Minister Martin Tlapa about the opportunities opening up, the risks involved and what the Czech government is doing to help
Czech doctors and medical experts are helping abroad. Within the government program MEDEVAC they provide urgent humanitarian aid in countries such as Jordan and Ukraine. You can also find medical devices Made in Czechia all over the world. This small country is definitely punching above its weight on the global scene when it comes to health expertise and technology.
The Czech Republic’s system of company tax is one of the most complicated in the EU, claims a study made in collaboration by the consultancy BDO and two German universities. The Czech Republic ranked fourth from bottom among EU states and its tax system was considered below average in the world-wide ranking.
The volume of foreign capital in Czech companies is at its lowest level
since 2011, according to a study of corporate structures published on
The consultancy Bisnode say the volume of foreign capital stood at 895 billion crowns in April, down 15 percent in annual terms.
Foreign entities currently hold almost 36 percent of the total share capital of Czech companies, Bisnode says.
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.
Prime Minister Andrej Babiš has refused to make public the so-called
national investment plan encompassing 17,000 projects worth 3.5 billion
crowns, despite his previous promise to do so.
Reacting to an inquiry by Social Democrat MP Zbyněk Stanjura, Mr Babiš said the plan was an internal material and was not intended for publication. The 11-year national investment plan summarizing the country’s infrastructure improvement needs was presented by the ANO party leader last November.
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Thousands pay tribute to deceased national pop icon Karel Gott