Impacts of tax reform on Czech blue stocks.

Corporate taxes are decreasing from 24% to 21% (or more precisely to 19% in 2010). Impact will not be so huge as on the other hand company will not have so many deductable items. The most profiting will be for companies with pure Czech tax residency like CEZ, Pegas, Philip Morris, Telefonica O2, Unipetrol. Companies with duty to pay taxes abroad are CME, ECM, Erste Bank, Orco, Zentiva.