Each Czech to pay over Kc10,000 monthly in taxes in 2014 -FinMin

published:

updated:
31.03.2014 10:32

Prague - Each Czech should pay on average Kc10,192 a month in taxes this year and the highest amount of Kc4,312 is to be paid in social insurance, according to the Finance Ministry´s estimates in an information brochure for the general public made public today.

foto

Peníze, bankovky, česká měna, koruna, úspory - ilustrační foto. ČTK Zavoral Libor

Each citizen is to pay Kc2,323 a month in value added tax (VAT), Kc1,152 in excise duty and Kc1,128 in individual income tax.

The brochure describes the state budget´s main functions, characteristics, the process of its preparation and concrete information on the budget for 2014.

It represents the Czech version of the Citizens Budget whose publication many international organisations recommend, for example the World Bank, Organisation for Economic Co-operation and Development (OECD) and International Budget Partnership.

"It is not within the powers of a normal person to get familiarised with the state budget´s details. We want to present to people creation of the document which has a key influence on their lives. We hope the brochure will help taxpayers to get a better ides on how the state uses their money," said Finance Minister Andrej Babis.

State budget with a Kc112bn deficit has been approved for this year. Total expenditures are to reach Kc1,211.3bn and total revenues Kc1,099.3bn.

Amount of money each citizen will pay monthly in taxes in Kc:

VAT2,323
Excise duties1,152
Individual income tax1,128
Legal entity income tax999
Social insurance4,312
Other taxes278
TOTAL10,192

Note: The table contains expected average tax payment per person (including children and pensioners). This is tax payment to all public budgets, not only the state budget

Written by:
www.ctk.cz

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