Czech VAT rate may rise to nearly double

The Czech government plans to raise the value added tax's rate next year, if the economic growth will be slower than expected – said the Czech prime minister in a interview.

Petr Nečas told to the Hospodarské Noviny newspaper that VAT can be increased to 19 percent from the current 10 percent – some products, except for medicaments and books – can increase, if next year's economic growth will not reach 2.5 percent.

According to the datas; the Czech Republic's GDP growth on an annual basis was 2.2 percent in the second quarter – reports MTI.