Morning News: Tuesday, May 16, 2023

  • The Czech government’s decision to raise the VAT on non-alcoholic beverages has sparked outrage among industry players. Manufacturers, including Mattoni 1873 and Kofola, strongly oppose this move, considering it ill-considered and discriminatory. The VAT rate for non-alcoholic beverages is set to increase from 15% to 21%


  • The Czech mortgage market experienced a slowdown in April as loan volume decreased by 16% compared to the previous month. The total loans amounted to 10.6 billion Czech crowns, with a decline of 2 billion Czech crowns. Additionally, average mortgage interest rates saw a slight increase of three basis points, reaching 5.89% annually


  • Opposition leaders ANO would have come first in general elections held at the turn of May with 30.5 percent, suggests a poll by the Kantar agency.The survey indicates that the three parties in the Together bloc, who are in government with the Mayors and the Pirates, would together have taken 25 percent of the vote.


  • European Commission Vice President Věra Jourová has criticized the Czech government’s plans to place newspapers in the higher VAT tax bracket of 21 percent. Jourova said the price hike would have a devastating impact on printed media, particularly the regional and local newspapers.


  • Czech President Petr Pavel who is on a two-day visit to Denmark on Monday met for talks with Danish Prime Minister Mette Frederiksen. They discussed security issues, migration and the protection of the EU’s outer borders as well as continued aid to Ukraine.

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