New wage minimum takes effect
9 Jan 18
IMPACT – MEDIUM
What is the change? The Czech Republic’s monthly minimum wage has increased from 11,000 Czech korunas to 12,200 (about US$570).
What does the change mean? The minimum wage applies to all workers in the Czech Republic, including foreign workers. Employers should set their budgets accordingly.
- Implementation time frame: Jan. 1.
- Visas/permits affected: Work permits.
- Who is affected: Czech companies, including those employing foreign nationals.
- Business impact: Businesses may see a slight increase in labor costs because of the new minimum wage.
BAL Analysis: The 2018 monthly minimum wage of 12,200 Czech korunas represents an 11-percent increase over last year’s level. Employers should take the new wage minimums into account when planning their 2018 budgets.
This alert has been provided by the BAL Global Practice group and our network provider located in the Czech Republic. For additional information, please contact your BAL attorney.
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