Parliament will start first reading of proposed fiscal reforms today and voting should follow today afterwards or tomorrow should the reading prolongs. As informed previously fiscal reforms addresses various issues, most importantly corporate income tax, which should decline over next three years from 24% to 19%, introduction of flat 15% income tax from super-gross wages, i.e. gross wages including social and healthcare contributions, change in lower VAT from 5% to 9%. Our view: There are not foreseen any problems for these reforms to pass the first reading as even most visible opposing MP Vlastimil Tlusty, former Minister of Finance expressed that he will vote for the fiscal reform in the first reading. The second and the third readings which are much more important and will most probably include modifying suggestions should be between 10 June and 20 June.