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Global distribution of revenue loss from corporate tax avoidance
Richtárová, Marie Anna ; Janský, Petr (advisor) ; Dubinina, Evgeniya (referee)
Existing empirical results suggest inequality of the global distribution of tax revenue loss resulting from tax avoidance techniques as base erosion and profit shifting to the detriment of developing countries. International Mon- etary Fund researchers conducted a pioneering study in this field in 2016 and introduced an innovative methodology to quantify the revenue impact. The aim of this thesis is firstly to re-estimate their model. Moreover, among other changes in the data, we exploit high-quality revenue data from the International Centre for Tax and Development-World Institute for Develop- ment Economics Research Government Revenue Database with an extended time range offering so more recent and accurate estimates of global revenue loss. Our findings suggest a slightly lower estimate of US$550 billion revenue loss globally. In terms of percent of the gross domestic product, the results indicate a less severe revenue loss compared to previous estimates. Follow- ing a previous re-estimation carried out by Cobham and Janský in 2018, we present updated loss estimates disaggregated for country income groups and regions. The results present further evidence of greater severity of rev- enue loss due to tax avoidance in low and lower-middle income countries in Sub-Saharan Africa, Latin America & the...
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Increase of CZK 395 billion compared to 2019: where the first draft expenditure in the state budget for 2022 was headed
Kolář, D. ; Janský, Petr
The draft state budget (SB) for 2022 submitted at the end of summer 2021 by the outgoing government of Andrej Babiš planned for expenditures of 1,928 billion CZK. That would be 394.5 billion CZK, and 25.7% more than the actual expenditure of the SB in 2019. Such a significant increase in expenditure, unaccompanied by an adequate increase in revenues, would significantly increase the structural deficit of the SB. The new government of Petr Fiala has therefore decided to revise the original draft budget in a new provisional budget. In this study, we identify the expenditure items in the original draft of the SB that have changed most significantly from the situation in 2019. We also show to what extent the nominal growth in the SB items takes inflation into account, which was expected to be 10.2% in this period. Comparison with the actual expenditure of 2019 allows us to shield the direct expenditure consequences of the pandemic. In fact, according to the initial proposal of the SR, the assistance programmes for households and employers during the pandemic were already expected to be reduced significantly in 2022.
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State employees and civil servants: where they work and how much they are paid
Bartušek, D. ; Bouchal, Petr ; Janský, Petr
Almost one fifth of the Czech Republic's workforce (calculated in full time equivalents) is employed in the public sector. In 2020, almost half (464,000) of these almost one million employees were paid out of the state budget and can be considered state employees. More than half (265,000) of the country's state employees are employed in state-funded institutions, in particular schools. The remaining, smaller share of state employees (198,000) work in a wide variety of other public organizations, including the armed forces, the police force, government ministries and job centres. Only a small proportion of state employees can be considered to be civil servants. In 2020 there were about 78,000 of these, which is approximately 8% of all public sector workers and 17% of state employees. This number is rather low in both absolute and relative terms, and stands in contrast to the substantial attention frequently paid in public debate to how many civil servants the country has.
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Impacts of Brexit referendum on European banks: evidence from Country-by-Country Reporting
Moravec, Petr ; Janský, Petr (advisor) ; Janda, Karel (referee)
1 Abstract In the negotiation period of Brexit in the years 2016-2019, banks in the UK had to plan their activity based on the expectation of whether they would have passporting rights in the future or not. The referendum's consequences may foreshadow what the actual Brexit will entail. This master thesis investigates the impact of the Brexit referendum in 2016 on the banking activity of the 45 largest European banks during the negotiation period. I use gravity analysis for inter-country transactions, and a brand-new "Synthetic Difference in Differences", together with Synthetic Control and standard Difference in Differences, for intra-country transactions. Although all of these methods were used in the literature in the context of the Brexit referendum, the Country-by-Country Reporting (CbCR) dataset that I use has not yet been used in such a context. I use turnover reported in CbCR by European banks as a proxy for banking activity in the years 2013-2019 and, thus, have four pre-treatment years (i.e., 2013-2016) and three post- treatment years (i.e., 2017-2019). Using the gravity model, I discovered empirical evidence that banks reported lower turnover since the Brexit referendum in their partner countries by between 14.5% and 44.6% relative to their domestic country. Yet, banks that have British...
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Tax avoidance by multinational corporations: evidence from new data
Vinogradov, Alex ; Janský, Petr (advisor) ; Palanský, Miroslav (referee)
The CbCR data published based on OECD's Action 13 of the 2015 Final Report represents the best macroeconomic CbCR dataset today. This thesis analyzes its second year of published data (2017), calculates historical ETRs and builds on top of the semi-elasticity model of profits with specifications successfully estimated on the 2016 data, with the use of OLS models, WLS models, which enabled the retention of the maximum amount of data and the unique use of Country Level Premium as a predictor proved itself as a better predictor than the alternative GDP per capita. The estimated semi-elasticity from the best model is then used to calculate the amount of shifted profits. JEL Classification B10, F01, F02, F15, F40, C21 Keywords BEPS, ETR, historical ETR, Country Risk Pre- mium Title Tax avoidance by multinational corporations: evidence from new data Abstrakt CbCR data jsou publikovaná v rámci akčniho bodu 13 Závěrečného reportu OECD a představují dnes ten nejlepší dataset ekonomickích dat, reportovaních po jednotlivích zemích. Tato diplomová práce analyzuje druhý ročnik techto data - pro rok 2017, spočitá efetivní daňovou míru a modeluje semi-elasticitu profitu pomocí OLS a poté WLS, terý umožni využít maximum pozorování z datasetu a zahrne riziková premia pro jednotlivé země jako preditor. Nejlepší...
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Tax Expenditures: The Extent of Corporate Tax Breaks in the Czech Republic
Pankina, Anastasia ; Janský, Petr (advisor) ; Hejlová, Hana (referee)
Until 2014 the Czech Republic has never published reports on tax expenditures. This paper deals with the analysis of corporate income tax breaks, their estimation, reporting practice and effect on the state budget. The main purpose of this paper is to analyze and estimate the extent of corporate income tax breaks in the Czech Republic from 2008 to 2013. In order to compute tax expenditures we applied a revenue forgone method. According to our estimations, most of the corporate income tax expenditures in the Czech republic were growing gradually during the estimated period, except of tax breaks for expenses on R&D and investment incentives, which increased more than twice from 2008 to 2013. We assume that this increase is a consequence of government reforms oriented to promote R&D and inflow of investments in the Czech Republic. Also, we compared our results with previous study on this topic and discussed the differences. In 2012 corporate tax expenditure in the Czech Republic accounted for about 1.6% of total state revenue from taxation, the comparison with estimates from other EU member states and US indicated that commonly this number does not exceed 2%. Moreover, during our analysis of corporate income tax breaks in different countries we noticed that high and sharp increases of total tax...
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Estimating the Extent of Inefficiencies in the Czech Health Care System
Pachovský, Tomáš ; Janský, Petr (advisor) ; Paulus, Michal (referee)
In this thesis, we tried to find possible methods of estimation the extent of inefficiencies in healthcare and apply them on Czech data. We reviewed recent literature on this subject and from the literature we selected 3 methods that were used in this thesis. We estimated that costs of error and fraud concerning payments and provision of care in 2010 is roughly between 9,5 to 25,8 billion CZK, extra treatment for people abusing prescription opioids cost approximately 247,8 million CZK in 2011 and that costs of unnecessary use of C-Section in 2011 amounted to 184,4 million CZK. We also broke down the 2010 Czech healthcare expenditures and compared indicators across countries to uncover other possible problems.
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Profitabilty and costs of banking products in the Czech market
Šútorová, Barbora ; Teplý, Petr (advisor) ; Janský, Petr (referee)
This bachelor thesis is aimed to be an accurate and detailed analysis of profitability and costs of bank deposits and loans for individual clients in the Czech market with possibility to make a comparison of the advantages of the Czech banks' products. Moreover, in general, the thesis tries to refute or confirm the criticism about the magnitude of bank fees in the Czech Republic. The principle of the analysis is based on a comparative tool designed in MS Excel containing defined parameters in the form of actual fees and interest rates and the appropriate formulas of financial mathematics, thanks to which, it is able to calculate the return on the deposit or total costs of loan products. The final amount is calculated for specific flexibly entered inputs such as the amount of the deposit or loan repayment period. This tool is an electronic attachment to this work.
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Offshore financial centers and the financial crisis
Sůva, Vojtěch ; Janský, Petr (advisor) ; Báťa, Karel (referee)
This thesis considers the identification of main offshore financial centers and the impact of the recent global financial crisis on them. The identification follows the ideas proposed by Zoromé (2007) and is developed further in a model based on data for each country's GDP, financial services and portfolio assets (International investment position, CPIS) for the years 2001-2008. The thesis begins with an overview of the main concepts of offshore financial centers and explains the development of definitions by which they are identified. The original model by Zoromé is introduced and a new model based on the panel data is presented. It then provides a summary of the main offshore financial centers identified by the proposed model and the influence of the financial crisis on them. In the last part, outlook on the preferences of the Czech companies is provided. The thesis concludes with the main findings from the proposed models and offers a further possibility to map the development of the offshore centers after the financial crisis.
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Automotive fuel taxes and cross-border shopping
Kubovič, Jozef ; Janský, Petr (advisor) ; Mikolášek, Jakub (referee)
This thesis investigates the presence of the cross-border shopping for automotive fuel between the Czech Republic and neighbouring countries over the time period from January 2005 to December 2012. Tax rates on fuels were described as one of the main source of price difference between countries that induces cross-border shopping. Using monthly data for diesel and petrol we used error correction model and estimated both long-term and short-term relationships between consumption of fuel in the Czech Republic and prices in Czech Republic and neighbouring countries. We found the evidence of a negative relationship between prices of petrol in the Czech Republic and its consumption as well as a positive relationship between relative price of petrol in Germany upon the consumption of petrol in the Czech Republic, which indicates presence of the cross-border shopping from Germany to Czech Republic.
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