Business Reforms in Czech Republic
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: The Czech Republic made starting a business easier by reducing the cost and the time required to register a company in commercial courts by allowing notaries to directly register companies through an online system.
Getting Electricity: The Czech Republic made getting electricity faster by designating personnel to deal with all incoming connection applications.
Starting a Business: The Czech Republic made starting a business easier by substantially reducing the minimum capital requirement and the paid-in minimum capital requirement.
Getting Credit: The Czech Republic improved access to credit by adopting a new legal regime on secured transactions that allows the registration of receivables at the collateral registry and permits out-of-court enforcement of collateral.
Enforcing Contracts: The Czech Republic made enforcing contracts easier by amending its civil procedure code and modifying the monetary jurisdictions of its courts.
Registering Property: The Czech Republic made transferring property more costly by increasing the property transfer tax rate.
Enforcing Contracts: The Czech Republic made enforcing contracts easier by simplifying and speeding up the proceedings for the execution and enforcement of judgments.
Labor Market Regulation: The Czech Republic abolished the minimum wage for young workers.
Registering Property: The Czech Republic made registering property easier by allowing the cadastral office online access to the commercial registry’s database and thus eliminating the need to obtain a paper certificate from the registry before applying for registration at the cadastre.
Paying Taxes: The Czech Republic made paying taxes faster for companies by promoting the use of electronic facilities.
Trading across Borders: The Czech Republic reduced the time to export and import by allowing electronic submission of customs declarations and other documents.
Labor Market Regulation: The Czech Republic increased the maximum duration of fixed-term contracts and reduced the severance pay applicable in cases of redundancy dismissals of employees with one year of service.
Registering Property: The Czech Republic speeded up property registration by computerizing its cadastral office, digitizing all its data and introducing electronic communications with notaries.
Paying Taxes: The Czech Republic revised its tax legislation to simplify provisions relating to administrative procedures and relationships between tax authorities and taxpayers.
Paying Taxes: The Czech Republic simplified its labor tax processes and reduced employer contribution rates for social security.
Resolving Insolvency: The Czech Republic made it easier to deal with insolvency by introducing further legal amendments to restrict setoffs in insolvency cases and suspending for some insolvent debtors the obligation to file for bankruptcy.
Dealing with Construction Permits: The Czech Republic streamlined its construction permitting process by reducing the internal processing time for registering new plots.
Registering Property: The Czech Republic made registering property easier through ongoing reorganization of the registry combined with computerization.
Paying Taxes: The Czech Republic made paying taxes easier for companies by making electronic filing mandatory for all taxes and introducing a single tax institution and unified filing.
Starting a Business: The Czech Republic reduced the time and number of procedures to start a business by introducing “Project Czech Point,” which makes it possible to obtain multiple registration-related documents in one place.
Getting Credit: The Czech Republic weakened its secured transactions framework by decreasing secured creditors’ rights during reorganization procedures.
Paying Taxes: The Czech Republic made paying taxes less costly for companies by reducing the corporate income tax rate.
Resolving Insolvency: The Czech Republic strengthened its insolvency process through a new insolvency law introducing reorganization as the preferred method for resolving insolvency, mandating stricter deadlines, establishing an electronic insolvency register and setting new qualification standards for trustees.
Labor Market Regulation: Czech Republic amended its Labor Code allowing the performance of more overtime work per week.
Starting a Business: The Czech Republic reduced the time required to start a business by fully implementing improvements in its company registration process.
Dealing with Construction Permits: The Czech Republic reduced the time required for dealing with construction permits by adopting a new building act and implementing several regulations aimed at simplifying the construction permitting process.
Labor Market Regulation: : The Czech Republic eliminated the obligation for retraining or reassignment in cases of redundancy dismissals.