Reform of Income Taxes as a Part of Public Budgets Stabilisation

Ivana Barteczková

MPRA Paper from University Library of Munich, Germany

Abstract: Commencing in 2008, income taxation is undergoing substantial changes, which are unprecedented in terms of their scope and contents since 1993. These changes are stipulated in the first part, Art. 1 of the Act on Public Budgets’ Stabilisation, No. 261/2007 Coll. This Act introduces a unified rate of income tax of private individuals, 9 i.e. where the taxpayer’s entitlement to tax abatement for a child is greater than the tax liability calculated for the respective taxation period, the arisen difference is a tax bonus, or, it is a form of a negative tax 10 still applicable in 2007 unlike the hitherto sliding progressive scale of the tax rate. In connection to this, in the interest of a possible disadvantaging of any of the taxpayer groups, a dramatic increase in tax abatements having a relation to the taxpayer is laid down and on the contrary it stipulates substantially different method of determination of tax base, especially in connection to payment of statutory insurance premium. In addition, it abolishes some tax institutes, such as joint taxation of married couples and a minimum tax base.

Keywords: Tax reform; income taxes; state budget; income tax of legal entities; income tax of private individuals; employee taxation (search for similar items in EconPapers)
JEL-codes: H2 (search for similar items in EconPapers)
Date: 2008-11-18

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