Waiver of Default Interest
The Ministry of Finance decided to waive default interest (Section 63, subsection 2 of Tax Administration Act) on delayed tax payments. Interest due in 2007 shall be waived unless the total amount thereof exceeds CZK 200 for a taxation period or for a calendar year for one-time taxes that do not have the taxation period. The decision dated 3 April 2007 is available on the Ministry’s web site and is to be published in the Financial Bulletin.
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When Excessive Prevention Does More Harm Than Good
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