Streamlines the provision of incentives for non-strategic investments

On 13 January 2024, Act No. 426/2023, which amends Act No. 72/2000 on Investment Incentives entered into force. This amendment facilitates the application process for non-strategic investments seeking incentives, primarily in the form of income tax discounts and, in certain cases, subsidies. The objective of the revised legislation is to streamline and accelerate the provision of investment incentives that support regional development, employment, and educational initiatives. Previously, obtaining such incentives necessitated approval from the Government. However, the revised process allows for more rapid access to incentives, with the Ministry of Industry and Trade and the Ministry of Finance responsible for evaluating applications, thereby reducing the waiting period. Strategic investment incentives will still require the Government's endorsement.

• Type:

  • Promotion and facilitation (Investment facilitation , Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Ministry of Industry and Trade, Czech Republic will be more attractive for investors. The process of obtaining investment incentives will be accelerated, https://www.mpo.cz/en/guidepost/for-the-media/press-releases/czech-republic-will-be-more-attractive-for-investors--the-process-of-obtaining-investment-incentives-will-be-accelerated--279339/, 22 Jan 2024
  • E-sbirka.cz, Act No. 426/2023 Coll. Act amending Act No. 72/2000 Coll., on Investment Incentives and on Amendments to Certain Acts (the Investment Incentives Act), as amended, https://www.e-sbirka.cz/sb/2023/426?zalozka=text, 13 Jan 2024