Czech government plans to impose flood relief tax: report

13:25, August 11, 2010      

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The three center-right parties in the Czech coalition government are planning to introduce a new flood relief tax, Czech newspaper Pravo reported on Tuesday.

If the plan gets Parliament approval, starting next year all Czech citizens obliged to pay taxes will have to pay an additional 1,200 korunas (about 64 U.S. dollars) into a so-called "reserve of flood solidarity."

The four billion korunas expected to be collected for this special fund every year will be used to help the victims of overflowing rivers and brooks.

The idea to introduce such a new tax stems from the current budget deficit. The new government had promised to trim the deficit as much as possible, but a wave of floods that struck the country over the last weekend seemed to be thwarting their plans, said the newspaper.

The economic loss from the latest flooding was estimated at over one billion korunas. And the government is unwilling to issue new bonds, according to the report.

Source: Xinhua


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