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Determinants of the Demand for Tax Haven Operations: Empirical Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Švarcová, Natálie (referee)
The aim of this thesis is to explore the firm-specific determinants of the demand for tax haven operations by Czech firms. Our objective is to better understand the firms' incentives for tax haven use, and furthermore whether there exists cross-haven heterogeneity in those incentives. The thesis examines the firms' tax haven investment behaviour by analysing firm-level data for 15,530 Czech firms for year 2013. To the extent of our knowledge, this has been the first research of its kind devoted to Czech firms. The evidence suggests that larger, more profitable firms with larger international presence are most likely to use tax havens. The analysis also indicates that higher firm indebtedness is associated with greater likelihood of establishing tax haven operations. This would suggest Czech firms engage in profit shifting through the use of debt financing. Furthermore, service firms were found to be more likely to use tax havens than manufacturing firms. This contrasts with previous research where R&D intensity was a leading indicator of tax haven use. Additionally, we found significant cross-haven heterogeneity in the determinants, particularly in the sector-specific characteristics. In our sample, service firms favoured Cyprus and the Netherlands, while manufacturing firms preferred Luxembourg...
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Firms and Tax Havens: Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Paulus, Michal (referee)
The aim of this thesis is to provide a description of the phenomenon of tax havens in relation to the Czech Republic. The thesis begins with description of theoretical background of the problem. It provides definition, characteristics, and an overview of main uses of tax havens by Czech firms. This part is followed by analysis of Czech firms controlled from tax havens in order to determine what type of firms is most often leaving the Czech Republic. The analysis showed the largest interest from limited liability companies and companies operating in real estate. The next part of the thesis presents an estimate of tax loss arising from tax haven activities of Czech subjects. It is the first estimate of this kind for the Czech Republic. The resulting tax loss is estimated to be 21 billion CZK per year, which equals to approximately 10% of annual tax revenue from corporate and personal income tax. The thesis is concluded with an overview of counter-measures that are taken worldwide and in the Czech Republic as means of combating the rising phenomenon of tax havens.
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Referential properties of bare noun phrases in Czech
Burianová, Markéta ; Šimík, Radek (advisor) ; Lehečková, Eva (referee)
The subject matter of the diploma thesis is the bare noun phrase and its referential properties with focus to (in)definiteness. The aim is to present an empirical evaluation of factors that influence the interpretation of definiteness of bare noun phrases in Czech. The first part of the thesis recounts on existing theories of reference and definiteness, both in general and with focus to Czech as a language without obligatory determination. Our basic assumption is that the interpretation of definiteness of bare noun phrases is based on their position within a syntactic and semantic sentence structure, topic-focus articulation and word- or situational context. We focus on the relation between definiteness and an absolute position within a sentence, a verb-relative position and modification of the NP. Powered by TCPDF (www.tcpdf.org)
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Determinants of the Demand for Tax Haven Operations: Empirical Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Švarcová, Natálie (referee)
The aim of this thesis is to explore the firm-specific determinants of the demand for tax haven operations by Czech firms. Our objective is to better understand the firms' incentives for tax haven use, and furthermore whether there exists cross-haven heterogeneity in those incentives. The thesis examines the firms' tax haven investment behaviour by analysing firm-level data for 15,530 Czech firms for year 2013. To the extent of our knowledge, this has been the first research of its kind devoted to Czech firms. The evidence suggests that larger, more profitable firms with larger international presence are most likely to use tax havens. The analysis also indicates that higher firm indebtedness is associated with greater likelihood of establishing tax haven operations. This would suggest Czech firms engage in profit shifting through the use of debt financing. Furthermore, service firms were found to be more likely to use tax havens than manufacturing firms. This contrasts with previous research where R&D intensity was a leading indicator of tax haven use. Additionally, we found significant cross-haven heterogeneity in the determinants, particularly in the sector-specific characteristics. In our sample, service firms favoured Cyprus and the Netherlands, while manufacturing firms preferred Luxembourg...
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Firms and Tax Havens: Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Paulus, Michal (referee)
The aim of this thesis is to provide a description of the phenomenon of tax havens in relation to the Czech Republic. The thesis begins with description of theoretical background of the problem. It provides definition, characteristics, and an overview of main uses of tax havens by Czech firms. This part is followed by analysis of Czech firms controlled from tax havens in order to determine what type of firms is most often leaving the Czech Republic. The analysis showed the largest interest from limited liability companies and companies operating in real estate. The next part of the thesis presents an estimate of tax loss arising from tax haven activities of Czech subjects. It is the first estimate of this kind for the Czech Republic. The resulting tax loss is estimated to be 21 billion CZK per year, which equals to approximately 10% of annual tax revenue from corporate and personal income tax. The thesis is concluded with an overview of counter-measures that are taken worldwide and in the Czech Republic as means of combating the rising phenomenon of tax havens.
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