The lower house of Parliament approved a series of government-proposed public-finance bills in their first reading yesterday, a major component of the government’s effort to reform public finances. Note that the reform calls for, among others, a decrease in corporate-income-tax rate from the current 31% to 24% by 2006, and for an excise-tax increase (see Philip Morris CR). The major (second and third) readings should take place in September.
Jan Hájek