Changes that will impact your finances in Czechia in 2023

From household bills to banking innovations, what does 2023 hold for consumers in Czechia? Staff

Written by Staff Published on 02.01.2023 13:16:00 (updated on 04.01.2023) Reading time: 3 minutes


Minimum deposits for self-employed

The minimum advance payments for social and health insurance, which are paid by most entrepreneurs and self-employed persons (OSVČ), will rise by a total of CZK 198 per month in 2023. This increase is significantly less than last year's increase of the minimum advance payments CZK 487.

The minimum advance for social insurance for the main activity increases to CZK 2,944 per month for 2023 (CZK 103 higher than for 2022), and the minimum advance for health insurance increases to CZK 2,722 (CZK 95 more).

Minimum salary increase

From the beginning of 2023, the minimum wage will increase by CZK 1,100 to CZK 17,300 per month (gross) for a working time of 40 hours per week. In hourly terms, this represents an increase of CZK 7.40 to CZK 103.80 per hour.

Out of the eight levels of guaranteed salaries, only two, the highest and lowest, will rise. These jobs are paid according to the difficulty, skill, and responsibility of a job. Read more here.

Data boxes

From 2023, the data box will be mandatory for the self-employed and other entrepreneurs. The state activates these data boxes automatically, so there is no need to apply for them. New users will receive login information gradually from January to March.

Non-entrepreneurs will not receive a data box automatically (the law originally provided for its activation as soon as a person uses one of the forms of electronic identity at least once when communicating with the state). Those who are interested in having a data box can have it set up voluntarily. Read more here.

Increased part-time work

Part-time employment should be more attractive to employers. From February 2023, companies will be given incentives to hire part-time workers by offering employers premium insurance discounts that allow them to deduct up to five percent of the total assessment base for certain employees (including students under the age of 26, parents with children under 10, and primary caregivers, as well as those of pre-retirement and retirement age). Read more here.


Energy price increase and ceiling

The new year brings further increases in energy prices for households that do not have a fixed price. Due to the government price cap, however, the price increase in practice will be "only" by 60 percent. Most customers will encounter this ceiling from January. The price ceiling for gas is 3.025 CZK/kWh including VAT. Households will no longer receive a state subsidy (the savings tariff), which will be replaced by a price ceiling.

Banking Innovations

Money transfer via mobile

The newest innovation for Czech banking in the year 2023 is the intended launch of so-called contact payments. Clients will have the option to send money without entering an account number: the recipient's mobile phone number will be sufficient if they voluntarily join the system. The first banks will probably launch the service in the spring. Read more here.

Shared ATM networks expanding

Starting in February, Air Bank and UniCredit Bank will join the shared ATM network of Komerční banka and Moneta Money Bank. This will allow clients of all four banks to withdraw cash from shared ATM networks under the same conditions as from their own bank's ATMs, and also lower operating costs for the banks themselves. Read more here.

consumer protection

Contracts over the phone

From Jan. 6, any contract which is negotiated orally over the phone will only be valid from the moment it is agreed to it in writing. This will help eliminate the element of surprise or scammers by allowing consumers more time to familiarize themselves with the contents of the agreement.

No more fake discounts

Retailers and merchants will now have to mention the original price of a product that is being offered at a discount. The change is a part of new government regulations on consumer protection.

As of January 6, the merchants will now have to state the lowest price for a product “in a period of no fewer than 30 days before the promotion was first applied,” ČTK reports. The new law aims to protect consumers from false discounts. Read more here.

More price hikes

Mail will cost more

The cost of mailing a letter in Czechia will increase next year. The Czech Post Office (Česká pošta) is raising the rates as of Feb. 1, 2023. Sending a standard letter weighing up to 50 grams will go up to CZK 23 from the current CZK 21. Priority delivery will rise to CZK 30 from CZK 28. Prices for registered mail and other services will also increase, according to a new list posted on the Czech Post website in late 2022. Read more here.

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