On September 20, 2022, the Senate of the Czech Republic approved a bill amending Act No. 353/2003 Coll., on consumption taxes. It among other things extends the period of reduced consumption tax on diesel fuel, from October 1, 2022 to the end of 2023. The rate will therefore remain at CZK 8.45 (EUR 0,34)/l. According to Finance Minister Zbyňek Stanjura (ODS), the reason is mainly the competitive environment. The main competitors are carriers from Poland, Slovakia, Hungary, Romania and also Turkey, where excise duty is at the lowest possible level. According to the estimate of the Ministry of Finance, the impact on the budget amounts to approximately CZK 9.5bn (EUR 380m).
Prepared by the team of CzechTrade Egypt