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Czech Republic – New guidelines to attract investments

The government of the Czech Republic has presented new guidelines for attracting investments. The regulations provide incentives for foreign investors and also for big foreign companies present in the country. These incentives focus on new strategic projects in the manufacturing sector with the creation of 500 new jobs, on strategic investments in technology and R&D centres leading to the creation of at least 100 new jobs, and on business service centres, with the creation of over 500 new jobs. The main forms of incentive envisage tax relief on corporate income tax for 10 years; tax exemption for five years in real-estate transactions in special industrial zones; the abatement of the purchase price of land; subsidies for the creation of new jobs; scholarships for training and retraining; and cash grants of between five and ten percent on capital investments in strategic projects. “The new guidelines are an important opportunity for Italian companies in that they guarantee them a number of benefits when investing in the Czech Republic, especially in infrastructure, the defence and aerospace industry and advanced technology,” Italian Ambassador in Prague, Aldo Amati, told Velino-PEI NEWS. “This is especially thanks to the windfall of European funds for motorway and railway projects, which will be allocated this year,” he concluded.