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What implications will the abolition of the Czech real estate acquisition tax have for real estate and corporate transactions and financing?

Company: Clifford Chance Prague LLP, organizační složka

Enacted in September 2020, Act No. 386/2020 Coll. abolished the Czech real estate acquisition tax with retroactive effect (dating back to ownership titles registered in December 2019). The effects that this measure will have on the local residential market are evident and have been addressed in a number of commentaries. However, the potential effects of the tax change on business transactions, whether in the wholesale real estate market or otherwise, have largely been ignored . We will take a first quick look at them in this commentary.

You can read the full briefing in English here and in Czech here

Tags: Law | Real Estate |

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