The Czech Republic may impose a tax on property which owners cannot prove the legitimacy of its origin. Such a proposal was made by the Ministry of Finance of the Czech Republic, informs the ee24.com citing radio.cz.
It is planned that the tax authorities will compare the tax returns and the existence of real estate in the Czech Republic. If the value of the movable and immovable exceeds 10 million Czech crowns (approximately €346,000), the owner will have to documentary prove the legal origin of his funds and real estate. Otherwise the property will be taxed.
According to the Czech media, the new law may come into force in 2016.
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