Posted by Veronika
04/05/2015 at 10h40
Czech and world economy will accelerate the pace of growth by several percentage points. Overall, we assess a very positive mood in the economy - thinking of companies and consumers is not a barrier to economic growth this year. Many companies are planning to increase the number of employees. Quantity of job offers is growing and people have more choices. Seasonal works have a positive effect on some sectors now.
What are the career plans of Czechs? Are the Czechs satisfied with their work? Are they interesting in career advancement? A survey of personnel agency Grafton Recruitment has focused on these issues. There were approached about 1000 respondents.
28% of people were satisfied with their jobs, another 16% of employees want career growth in current work. Employees would like attend special training or language course.
People are also interested in requalification courses, mostly in the service sector (masseurs, manicurists etc.). A wider range of jobs means that people cease to be afraid of the changes work. 37% of respondents want to change jobs this year. They mention the lack of financial rewards as the main reason. Poor interpersonal relationships at work or dissatisfaction with superiors are also frequently mentioned reasons.
12% of respondents would like to find a job abroad this year (mainly university graduates have this plan). The remaining 7% of respondents thinking about their own business or planning to taking maternity leave.
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Posted by Veronika
17/04/2015 at 09h30
The minimum wage in the EU in 2015
The minimum wage in European countries regularly increases. Since 1 January 2015, the minimum wage increased from 8, 500 CZK per month to 9, 200 CZK per month or from 50, 60 CZK per hour to 55 CZK per hour. However, the Czech Republic still occupied the fourth lowest position of the EU Member States, lower minimum wage is only in Bulgaria, Romania and Lithuania. The minimum monthly wage is higher than 40 thousand Czech crowns in Germany, the Netherlands, Belgium, Great Britain; it even exceeds the 50 thousand crowns in Luxembourg. Minimum wage isn´t defined by legislation in six EU countries (Sweden, Finland, Denmark, Italy, Cyprus and Austria) - there it is usually negotiated in collective agreements or tariffs exist for certain professions. In the table below, there are EU Member States which have a minimum wage set out by legislation.
|
EU Member States |
The minimum wage in the national currency |
Approximate conversion to CZK |
|
Luxembourg |
1 923 EUR |
52 584 CZK |
|
Great Britain |
1 127 GBP |
42 707 CZK |
|
Belgium |
1 502 EUR |
41 072 CZK |
|
Netherlands |
1 502 EUR |
41 072 CZK |
|
Germany |
1 473 EUR |
40 279 CZK |
|
Ireland |
1 462 EUR |
39 978 CZK |
|
France |
1 458 EUR |
39 869 CZK |
|
Slovenia |
789 EUR |
21 575 CZK |
|
Malta |
720 EUR |
19 688 CZK |
|
Spain |
649 EUR |
17 747 CZK |
|
Greece |
586 EUR |
16 024 CZK |
|
Portugal |
505 EUR |
13 809 CZK |
|
Poland |
1 750 PLN |
11 931 CZK |
|
Croatia |
3 030 HRK |
10 926 CZK |
|
Estonia |
390 EUR |
10 664 CZK |
|
Slovakia |
380 EUR |
10 391 CZK |
|
Latvia |
360 EUR |
9 944 CZK |
|
Hungary |
105 000 HUF |
9 678 CZK |
|
Czech Republic |
9 200 CZK |
9 200 CZK |
|
Lithuania |
300 EUR |
8 204 CZK |
|
Romania |
975 RON |
6 044 CZK |
|
Bulgaria |
360 BGN |
5 032 CZK |
Note: converted at the current exchange rate on 14 April 2015
Opinions for the minimum wage are different. The minimum wage may be an important motivating factor. In short - the work should be worth it and the standard of living of people who are working for minimum wage should be higher than if they were long-term unemployed. However, we must take into account the system of taxation and insurance - the high minimum wage increases labor costs of employers. The work is expensive and it is negative for business development and supply of labor, because they usually occur layoffs. The minimum wage is around 40% of the average wage in Western Europe. In the Czech Republic, the average wage is around 27 000 CZK, which means about 34% of the average wage.
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Posted by bara
18/03/2015 at 12h50
In the Czech Republic, a person whose taxable income is higher than 15,000 CZK, during the calendar year, has to always report his Czech personal income tax return. In most of the cases employers are responsible for carrying out this duty for their employees.
People have to submit their income tax return no later than 1st April 1015. There is possibility to extend the date of submission to 1st July, but only if it is prepared by a registered Czech tax adviser. Czech citizens or people who have a permanent residency in the Czech Republic have to pay tax on their income earned inside the Czech Republic and abroad. Foreign residents and people employed in the Czech Republic only have to pay tax on their income earned in the Czech Republic. Citizens with the data box must file a tax return electronically, otherwise the tax office will give them a fine of 2000 CZK.
You have to think of some important points when completing the tax return:
If your tax base is less than 165 000 CZK, you don´t have to pay any income tax on individuals. However, you must file a tax return. When you're an employee and you have other taxable income higher than 6,000 CZK for 2014, you have to file a tax return too.
There are general tax credits which can be claimed in the Czech Republic. Tax credit of 24,840 CZK per year can be claimed for the taxpayer. Czech tax residents and also Czech tax non-residents who have more than 90 percent of the income from Czech sources can claim tax credit of 13,404 CZK annually per dependent child. Only one parent can apply the tax credit for children. Tax credit of 24,840 CZK can be claimed for a spouse whose own income does not exceed 68,000 CZK per year.
Tax Office will return your any overpayment, but the condition is that you must have completed the necessary information on the tax return (bank account number, etc.). Tax office returns overpayments to 1st May 2015.
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Posted by bara
12/02/2015 at 14h41
Penalties threatens many people and businesses. They risk being ranked among the defaulters of taxes because they paid on canceled accounts of the tax office. 150 million crowns landed on cancelled accounts during January 2015. The largest amount is attributable to tax on personal income. 199 tax offices, including their bank accounts intended for the payment of taxes in the Czech National Bank, was dissolved on 31 December 2012.
After the 1st January 2015, all tax payments paid to the cancelled bank accounts of Tax Offices will be returned back to the taxpayer. Two-year transition period finished as of the last day of December 2014, when the bank re‑routes incorrectly received tax payments to the correct accounts automatically.
If the taxpayer pays his tax obligations to the cancelled account, he is risking of not paying tax obligation in due time and might be penalized for delay.
A correct format of the account number consists of two parts divided by a hyphen. The first part is a bank account prefix followed by basic part and a bank code (prefix-basic/0710). Prefixes which indicate the particular taxes, as well as account numbers, can be found on the website of the Ministry of Finance.
The tax subject can pay tax through postal order type A or by bank transfer or by internet banking.
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Posted by bara
19/01/2015 at 13h18
Czech crown is according to the journal The Wall Street Journal the most debilitating currency of the world. This designation is wrong because the article evaluates the development of currencies during the early days of 2015, and it has no explanatory value. Weakening of the currency is commonly used as an instrument of export promotion. The Czech Republic used it in 2013, when the Czech National Bank sharply depreciated exchange rate on 27 CZK / EUR.
However, the Czech currency fell to a level of 28 crowns per euro in recent days. The crown was so weak in February 2009. The rate for the dollar is the weakest in the last 9 years - it has exceeded the limit of 24 crowns per dollar. Weakening is a response to low inflation last year. Another central bank intervention is the reason for today's weakening of exchange rate. The Czech National Bank will meet in February and it may announce an increase in the level of intervention from the current 27 CZK / EUR at the level of 29 CZK / EUR. President Miloš Zeman expressed his disagreement with the CNB interventions in monetary policy in the form of intervention in foreign exchange rates. Why should CNB again intervene? Cheap oil is the reason because it reduces inflation and the inflation target of 2% is not fulfilled.
Weakening crown helps exporters. On the other hand, imported goods and foreign holidays are more expensive. The weakening of the CZK to USD prevents even greater decline in prices of petrol and diesel. Gasoline and diesel still further cheapen and some sources predict price 25CZK / 1 litre. Governor of CNB said that exchange rate movements are normal and CNB has no reason to react. The actual decision of the Czech National Bank is yet uncertain.
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Posted by bara
09/01/2015 at 09h30
Many of the changes coming with the new year. The changes will not avoid community of the European Union. For example, the Italian presidency ended and Latvia will be on site presiding country for six months. As one of its main tasks is considered negotiations with Russia over the Ukrainian energy crisis and economic stability and EU. The European Union is a political and economic union, consists of 28 European countries with a population of 507,700,000. Currently these are EU member states (in brackets shows the year of entry into the EU): Belgium (1952), Bulgaria (2007), Czech Republic (2004), Denmark (1973), Estonia (2004), Finland (1995), France (1952 ), Croatia (2013), Ireland (1973), Italy (1952), Cyprus (2004), Lithuania (2004), Latvia (2004), Luxembourg (1952), Hungary (2004), Malta (2004), Germany (1952 ), the Netherlands (1952), Poland (2004), Portugal (1986), Austria (1995), Romania (2007), Greece (1981), Slovakia (2004), Slovenia (2004), United Kingdom (1973), Spain (1986), Sweden (1995).
The Czech Republic joined the EU on 1 May 2004. In the Accession Treaty is committed to adopting the single European currency (the euro area entry). The term input but not set. Membership in the euro area is subject to the criteria of the Maastricht Treaty. Czech Republic is not yet a member of the Exchange Rate Mechanism II (ERM II). Euro was adopted in 18 countries: Austria, Belgium, Finland, France, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain, Greece, Slovenia, Cyprus and Malta, Slovakia, Estonia and Latvia. The eurozone has grown by nineteenth member - Lithuania since January 2015. Supporters of the euro believe it will improve the economy and strengthen ties with the West. Critics fear of price increases. Most Lithuanians, however, with the adoption of the euro agreed.
Another change in the EU can be extraordinary Greek elections. Left Party in Greece is very popular and probably win the election, and it can endanger the austerity measures that Greece has been enacted. If Greece stops paying its obligations, it will have to leave the eurozone.
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Posted by bara
09/01/2015 at 09h26
Czech Trade Inspection examined deficiencies in problematic e-shops. In the third quarter, inspectors conducted 221 checks online stores. They discovered errors in 165 stores (thus 75% of cases). Result of inspection looks awful, but control was focused on risk e-commerce and e-commerce state in the Czech Republic is probably at a better level. However, we must be careful at Christmas time - Czech police solves more online fraud in December.
How to choose the right e-shop?
We do not have universal advice. We can only give you some tips. First thing - you do not focus only on price. The price does not reflect the vendors and it can hide a lot of fees (higher postage, packing and various surcharges).Credibility trade is also very important. We recommend that you read the reviews you about e-shop. But you must be critical, because sellers can write reviews often alone. If the goods are not delivered on time, so you have the right to return the money. A reputable seller should return the money without any problems.
Another problem is that traders do not have transparent business conditions, and they intentionally confuse their customers. So you remember: you have the right to return goods purchased on the Internet within 14 days without giving a reason. Goods can be unpacked, but it must not be used. The right of withdrawal does not apply to special orders, audio and video recordings or software, newspapers and magazines. You must be informed of the e-shop the possibility of withdrawing from the contract within 14 days. When e-shop does not do this, then the period is extended for one year and 14 days. When you find a defect, you have the right to claim for a period of 24 months from the purchase of goods. The seller is obliged to settle the claim within 30 calendar days. If the seller exceeds this time limit, you are entitled to withdraw from the contract and refund.
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Posted by bara
09/12/2014 at 12h21
Automated teller machine (ATM) is a machine that automatically provides cash and performs other banking services on insertion of a special card by the account holder.
ATM is among the hundred most important inventions of the 20th century. George Simjian constructed in 1939 instrument called barograph. This precursor ATM was installed in New York. Clients about it were not interested. John Shepherd-Barron revived the idea of automatic withdrawals in 1967. The new ATM was put into operation in London. The public welcomed Barron´s ATM with pleasure. The first international ATM network was established in 1984.Today is around 2 million ATM all over the world.
The first ATM in the Czech Republic began operations 25 years ago. It worked in off-line mode, and it served only to workers societies. By the end of 1989 there were 3 ATMs in the Czech Republic for common clients.
The former ATMs knew how to give change only. Today Czech Republic has almost 4,500 ATMs, and you can inform about balances and submit payment orders. Modern ATMs serve as a marketing channel for the promotion of banking products and some ATMs are used for insertion of cash to the account.
In 2013 it was 417 ATMs per million inhabitants in the Czech Republic. When we measure the density of the network – there are 56 ATMs per square kilometre.
Česká spořitelna has the most ATMs in Czech, ČSOB is the second and third place has Komerční banka. The least ATMs have mBank, Zuno or Equa bank. Clients of these banks may use free or low-cost network of ATMs of other banks.
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Posted by bara
27/11/2014 at 12h31
On 6th November 2014, President of the Czech Republic Miloš Zeman signed an amendment to the Electronic Communications Act. The European Commission has started an investigation in the Czech Republic, because the amendment worsens the position of subscribers to electronic communications. There is a conflict with European legislation. All people who have internet, telephone or cable or satellite television are subscribers of e-services. Telecommunication Office criticizes the amendment to this Act too.
Czech consumer is not protected by European standards. The amendment says that the operator can unilaterally change the terms and it forces customers to remain in unfavourable (adverse) conditions. The European Directive declares that each participant has the right to change the terms of the contract without any penalty.
Currently, clients must be informed about any change at least one month in advance. They must also be advised of the right to withdraw from the contract. The amendment changes this obligation and the operator must only inform the consumer that the conditions is changing, but does not say what is changing exactly. The customer must find information about new condition himself, which can be difficult task in a multi-page contract. One-month period to inform customers remains the same.
Current law defines the essential terms of the contract (price, methods of application of the complaints or the price for number porting). The difference of the new old conditions is that in new one the operator will only inform about the changes that he evaluates as unwholesome for the customer. Informing only applies to fixed-term contracts - the other costumers may not know about the new conditions and they can inadvertently remain in unfavourable conditions.
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Posted by bara
27/11/2014 at 12h30
Terminology of Czech entrepreneurs is enriched by new terms. Trend as the reconciliation of work and family life (work-life balance), creation of corporate values, corporate culture and improvement of soft skills. Corporate Social Responsibility is also a popular term now.
Social responsibility first appeared in the early second half of the 20th century, and means a way of managing an organisation and building relations with partners which helps to improve the reputation and boost the credibility of all organisations. This is a cross-cutting issue that affects a wide range of aspects - social, environmental and economic. The European Commission now defines corporate social responsibility as: the responsibility of enterprises for the impact their activities have on society.
In the Czech Republic, these terms are in the beginning and we find it only in the statutes of large multinational companies. We can see the positive promotion of social responsibility from the Ministry of Industry and Trade. On 2 April 2014 the Czech Republic Government approved in Resolution No. 199 the strategic document "National Action Plan for Corporate Social Responsibility in the Czech Republic.” The aim of the strategy document, which was prepared under the auspices of the Ministry of Industry and Trade in collaboration with other stakeholders, is to contribute to the development of the concept of corporate social responsibility in the Czech Republic and its positive impact on society, economic development and competitiveness of the Czech Republic. Strengthening control functions is not the intention thereof. The aim of the various activities that are included in the strategy document and respect the principles of voluntariness, is, in particular to motivate commercial enterprises, non-profit organizations and government authorities for the implementation of corporate social responsibility.
The full text of National Action Plan for Social Responsibility in the Czech Republic can be found on the website of the Ministry of Industry and Trade.
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