Czechia to Waive Tax on November, December Energy Sales

The Czech Republic will waive valued-added tax on November and December energy sales and seek the permission of Brussels to maintain the rate at zero in 2022.

Finance Minister Alena Schillerova said Monday that the decision on the November and December VAT rates, which the government took without waiting for permission from Brussels, was a response to “a completely extraordinary situation” requiring immediate action.

• The decision aims to stem soaring energy prices—Czech utility giant CEZ forecasts electricity prices to rise 30% and gas prices to rise as much as 70% in January 2022 from current levels.
• Cutting VAT ...