Czech Vat: How will the new and planned tax rises on Czech property affect the market
11th January 2008
By Andrea Harper
There is as yet no evidence that property prices in the Czech Republic are rising as a direct result of the increased VAT rate which hit mthe market at the start of the year.
The Vat rate jumped from 5% on most new builds to 9% from January 1.
Eva Kavkova, our partner in the Czech Republic, said: "The VAT rise has not had an impact on prices - they certainly haven't jumped 4% overnight to cover the increase to the new rate of 9%.
"However, the change of VAT did create higher buying demand before the end of 2007, mainly within the local market."
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