Today I'll outline amazing country Czech Republic. Namely, I'll writing about Prague.
Quote: “Prague is like a vertical Venice steps everywhere.”
Author: Anonymous
So lets start.
Currency:
At first i'd like to reminder current index for eur/czk and usd/czk
1 USD = 15.5159038 CZK
1 EUR = 24.7307991 CZK
[http://google.com]
Tax:
Individuals who are permanently resident in the Czech Republic (as determined by their circumstances) or are usually domiciled here (i.e. spend more than 183 days per annum in the Czech Republic) are considered to be tax resident in the Czech Republic and are liable to Czech tax on their world-wide income. If the individuals are present for less than 183 days, then they are liable to tax only on their Czech-source income. These rules apply to Czech as well as foreigners.
Everybody working in the Czech Republic is liable to Czech social and health insurance payments. It is only in the case of short-term secondments that non-Czech nationals may be exempt from contributions to the Czech system. The employer is obliged to deduct tax advances under a payroll deduction scheme and at the end of the fiscal year, any differences between the amount due and amount advanced would be settled the following tax year. It is possible following the end of the tax year to claim tax relief for certain payments such as mortgage interest and life insurance (if the individual’s Czech income exceeds 90% of his/her world-wide income). If the employee received any additional income exceeding CZK 6,000 (except exempt income or, for example, dividends), then he would be obliged to file an income tax return.
The czech income tax rate for individual's income in 2008 is flat, a 15% rate. In 2007 tax on the income of individuals was payable at rates of 12% - 32%.
Mandatory social and health insurance payments are: Employee- 12.5%.
[http://www.worldwide-tax.com/czech/czech_tax.asp]
Well, common tax will be 27,5%
Useful links:
- CzechInvest, the inward investment agency: www.czechinvest.cz
- Ministry of Finance: www.mfcr.cz
- Ministry of Interior Affairs:www.mvcr.cz
- Czech National Bank:www.cnb.cz
- Czech Trade:www.czechtrade.cz
- Ministry of Industry and Trade:www.mpo.cz
- Ministry of Labour and Social Affairswww.mpsv.cz
Average salary:
Sr. Software Engineer - 40000 USD
Software Engineer - 25000 USD
[http://www.payscale.com/research/CZ/Country=Czech_Republic/Salary]
Property to rent:Area: 62m
Size:2+kk
Furnished: yes
Transport: metro, tram, bus
Price: 14000 CZK (892 USD)
[http://www.expats.cz]
Transport:
One-way Ticket - 14.00 CZKTransfer Ticket - 20.00 CZK24-hour Pass - 80.00 CZKMonthly Pass - 460.00 CZK (30 USD)Annual Pass - 4,150.00 CZKTaxi (airport to center) - 400.00 CZK
Taxi (within center) - 150.00 CZK[http://www.dpp.cz]
Food cost:
Milk (1 liter) - 16.00 CZKLoaf of Fresh Bread - 24.00 CZKFrench Baguette 19.00 CZKEggs (10) - 24.00 CZKCheese (100g) - 20.00 CZKWater (1.5 liter bottle) - 12.00 CZKBottle of Czech Wine - 80.00 CZKDomestic Beer (0.5 liter bottle) - 12.00 CZKImported Beer (0.33 liter bottle) - 30.00 CZKPack of Cigarettes (Marlboro) - 60.00 CZKPack of Cigarettes - Czech Brand - 40.00 CZK
[http://www.expats.cz]
Other:
UTILITIES, ETC. (Monthly)
Basic (Gas, Electricity, etc.) - 2,500.00 CZK
Phone (Land Line) - 500.00 CZKMobile Phone - 700.00 CZKInternet (512 kbps ADSL) - 600.00 CZK
[http://www.expats.cz]
So to sum it up:
I've calculated that live in Prague will monthly cost you 25000-30000CZK (1600-1900 USD). Let do a small calculation here. If average salary is 40000-45000 CZK (2500-2900 USD) then your income after paying tax will be 30000-33000 CZK (1900-2200 USD) and finally, after all expenditures you will have
5000 CZK (300 USD).
Well, to be honest, it's not good situation but if you receive 60000-70000 CZK then you will be live without complain.
What I'm trying to say, your life is in your hands.
Good luck and hope for the best.