Planned amendment to the Incentive Act

The amendment should abolish the obligation to submit to the government each request for granting an investment incentive Assessing the incentives will be done in most cases by the Ministry of Industry and Trade, with the help of other ministries. Obligatory government approval will continue to apply in respect of strategic investments only; such projects can receive material support for the acquisition of long-term assets. The new rules should affect only those applications that are submitted after the amendment becomes effective.

Other changes include the extension of the condition of higher added value for all regions of the Czech Republic with the exception of those where the unemployment rate is 7.5 per cent or more; moreover, the range of strategic products has been extended.