As previously reported,  the new Czech coalition government is considering an ambitious public finance and tax reform. On 3 April 2007, further details on these reform plans, summarized below, were announced. Corporate income tax The government plans to reduce gradually the corporate income tax rate (currently, 24%) to 22% in 2008, 20% in 2009 and 19% as of 2010, with the aim to promote the inflow of foreign investment into the Czech economy. The reduction in the corporate income tax rates is also a reaction to increasing tax competition within the region. Personal income tax The government announced its plans...