The Americans head for Pisek
Article Abstract:
CommScope (US), manufacturer of special cables for television, computer and telecommunication equipment, is considering the construction of a plant in Pisek, Czech Republic. The firm should produce coaxial cables for telecommunication systems at the plant in Pisek. The investment costs on the project should be CEK 1.1 bil. The plant should have 280 employees during the first stage. The firm has not reported the plan officially. If the firm invests in Pisek, it will get 10-year tax holidays from the state. Besides, it will be able to import new technology without custom duties.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Lower taxes help firms generate profits
Article Abstract:
Czech Republic: Corporate income taxes decreased from 35% to 31% in 2000. The drop helped the majority of large firms to increase their profits considerably. The firms plan to use the profits for investments or a decrease in their debts. The Ministry of Industry also confirmed a big growth in the profits of industrial firms in 2000. According to an analysis of the ministry, the gross profit of firms increased by 130% and their net profit eight-times in 2000 compared to 1999. Besides the tax cuts, the 2000 profit growth was influenced by the boom in Western Europe.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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The state debt: CEK 30,000 per head
Article Abstract:
Czech Republic: The total state debt was CEK 289 bil at the end of 2000, CEK 60 bil more compared to the end of 1999. The debt was CEK 30,000 per head at the end of 2000. The growth of the state debt in 2000 was influenced mainly by the state budget deficit of CEK 46 bil and the coverage of the loss of Konsolidacni banka (Czech Republic) in an amount of CEK 14.4 bil for 1998. The total state debt was CEK 335 bil including the debts of other state institutions, the economy of which is outside the balance of the state budget.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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