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Located in the geographical centre of Europe with its very attractive capital city Prague, the Czech Republic offers a lot of opportunities and attractions for business activities: solid infrastructure, highly educated and skilled employees, lower wage costs, especially outside Prague, a flat income tax rate of 15 % and corporate tax rate of 19 % and other advantageous tax incentives. Foreign companies may operate by establishing either a branch office or a Czech Company. Most common forms of a company are limited liabilities companies (s.r.o.) and joint stock companies (a.s.).