Hi all,
I'm self-employed (working as a freelance journalist) and I'm considering moving to Prague. I'm trying to research exactly what kind of taxes I would need to pay. I know there is a flat 15% rate whether you're an employee or self-employed, but then I also found something a little disconcerting regarding social security:
Czech Republic Social Security:
Mandatory social and health insurance payments are:
Employer - 34%.
Employee - 11%.
Self employed pay mandatory 42.7% for social security and health insurance.
Is that right? Do I really need to pay 43% + 15% = 58% of what I earn as taxes? That sounds like way too much, I'm hoping what I read was wrong
If I'm wrong, would you be so kind to point me to a resource that explains the taxes for self-employed people clearly?
Thank you so much!
Dario