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Establishment as an allocation key for proper taxation
Němec, Petr ; Marková, Hana (advisor) ; Kotáb, Petr (referee)
80 Summary Establishment as an allocation key for proper taxation The work is concerned with the questions of an establishment as an allocation key for proper taxation. The main objective of the work is to get the brief and clear overview of the position of an establishment especially from the income tax point of view. Nowadays - in the world full of international transactions without borders - it is for particular states more and more important to identify where certain transactions have their source and where they should be taxed. The choice of the proper allocation key for the taxation is very complicated since it meets many legal branches. For setting up the uniformed proceeding regarding international taxation the institution of an establishment was invented. The institution of an establishment is related to both tax law and business law. The concept of an establishment can be found in the Commercial Code or in the Trades Licensing Act. Moreover the tax law contains its own specifications of an establishment. Namely it is the permanent establishment for the purposes of the Income Taxes Act and the fixed establishment for the purposes of the VAT Act. For proper examination of the occurrence of establishment definitions we often have to explore the international legislation too - e.g. the Double tax...
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History, development, presence and future of cooperative banking in the Czech Republic and former Czechoslovakia
Bugan, Patrik ; Kotáb, Petr (advisor) ; Boháč, Radim (referee)
89 SUMMARY The introductory chapter of this honours thesis concerns the financial institution of a credit union as such. The term credit union is explained, attention is also paid to the substance, significance, and purpose of credit unions, and the basic principles of their functioning are analysed. The next chapter explores the history and tradition of cooperative banking in the lands today known as the Czech Republic and the Slovak Republic. It describes the beginnings of cooperative banking in the 19th century, analyses in detail the development of cooperative banking in the second half of the 19th century and early 20th century, and attention is also paid to the time after the establishment of the Czechoslovak Republic in 1918, the era between the Wars, and the time from the end of the Second World War to 1989. The next, third, chapter, analyses the development of the Czechoslovak and Czech legal regulation of cooperative banking in our territory until 1989, and attention is paid to each major legal norm regulating the field. The following chapter is devoted to the development of cooperative banking in the Czech Republic after 1989, and to the present legal regulation of credit unions, focusing primarily on Act No. 87/1995 Coll., On Savings and Credit Cooperatives. This chapter analyses in detail the...
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Regulation of commercial banking by the central bak
Mach, Petr ; Kotáb, Petr (advisor) ; Boháč, Radim (referee)
- 70 - 10 Resumé Regulation of commercial banking by the central bank This diploma thesis deals with regulation and supervision of a commercial banking. It is focused on changes which were made in this area during the last several years. The next purpose of the thesis is evaluation of reforms which are proposed as an answer to the present financial crisis. In an introductory passage I generally define regulation and supervision of the commercial banking, refer to organizations which have key importance in the banking regulation, enlarge upon risks to financial stability of commercial banks (credit, operational, likvidity, interest rate, capital and market risk), introduce causes for existence of the banking regulation and mention its objectives. Next I deal with particular methods of the regulation, for example a minimum capital requirements, a financial reporting and desclosure requirements, large exposures restrictions, a deposit guarantee or position of the central bank as a lender of last resort. The main part of the thesis is focused on descriptions of changes which were made during the past few years and after that I evaluate drafts that are proposed as a answer to financial crisis which has last from 2007. Main changes are connected with an approval and an implementation of a new capital adequacy...
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Protection of consumers in relation to banks
Orlová, Adéla ; Kotáb, Petr (advisor) ; Boháč, Radim (referee)
67 ABSTRACT Consumer Protection in Relation to Banks Consumer protection is a form of governmental regulation, which protects the interests of comsumers as a weaker contracting party. This work is focused just on part of it, namely on the protection of consumers in relation to banks. The preamble deals with the determination of individual parties in consumer relation - consumer and bank as a supplier. The concept consumer is included in several acts. Consumer Protection Act defines a consumer as "a natural person or a legal entity that purchases products or uses services for other purposes than enterprising with those products or services". Because of specific determination of the concept "consumer", in this work another concept is used, namely a bank client. Bank is deteminated by the Banking Act and as a legal entity with its registered seat on the territory of the Czech Republic, established as a joint-stock company which accepts personal deposits and grants loans, and which has a banking licence for performing these activities. It also provides a survey of general principles and legal regulations connected with consumer protection in the area of banking. The next part is concerned with the consumer protection according to banking regulations. These regulations are the Banking Act, the Czech National...
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Banking payment cards in the Czech Republic
Kvaková, Michaela ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Bank payment cards in the Czech Republic Key words: Electronic payment mean, Payment card, Bank payment card, Issuing bank, Cardholder, Merchant, Acquirer bank. Klíčová slova: Elektronický platební prostředek , Platební karta, Bankovní platební karta, Vydavatel, Držitel, Obchodník, Zúčtovací banka. The aim of this thesis is to briefly describe what can be regarded as a bank payment card in the Czech Republic, who is the payment card issuer under the current legal regulations, who is the card owner and holder, and which legal regulations regulate payment cards as such and which regulate the relationship between the issuing banks and their holders. Is also describes the procedure before the financial arbiter including the analysis of the selected decisions of the financial arbiter, and the procedure linked with payment card transactions. The thesis consists of five chapters. Chapter One focuses on the explanation of selected relevant terms which are used in this thesis. The first part of this chapter defines various terms such as electronic payments means and payment cards, and explains which payment cards can be regarded as a bank payment cards. The second part of the chapter deals with the issuers of electronic payment means and with the issuers of bank payment cards, and briefly characterizes entities...
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Taxation of real property
Hlobilová, Ivana ; Boháč, Radim (advisor) ; Kotáb, Petr (referee)
59 ZDAŇOVÁNÍ NEMOVITOSTÍ REAL ESTATE TAXATION KLÍČOVÁ SLOVA: daň z nemovitostí, daň z převodu nemovitostí KEYWORDS: real estate tax, real estate transfer tax SUMMARY Taxes are constantly part of our lives, regulate our disposable income and, therefore, are still debated issue. The purpose of my thesis is to analyse real estate taxation in Czech Republic. Real estate, from the perspective of the state, is rewarding subject to tax. It's not easy to escape the tax, and income to the state budget is stable. The opinion of taxpayers as well as many experts, however, is different. Taxes related to real estate are often regarded as unfair, as some kind of penalties for possessing or investing in real estate. My thesis is focused in particular on the real estate tax and real estate transfer tax, which has been recently, discussed a lot. I try to clarify the current legal situation, evaluate it and outline the possibility of changes in the future. The thesis is composed of four chapters. Chapter one is introductory and deals with the general characteristics of taxes, sorting taxes and the tax system of the Czech Republic. The second chapter firstly defines basic terminology used in the thesis, and then mentions all the tax implications of owning and selling real estate in the Czech Republic, i.e. the income tax,...
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The Czech National Bank, its position and activities
Vrba, Tomáš ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
The Czech National Bank, its Role and Activities In my Diploma Theses I would like to discuss the role and position of the Czech Central Bank. My theses is formally divided into five chapters, these chapters are divided into subchapters and sections. The purpose of this structure is for the theses to be complex and easy to work with. The first chapter, called "History and Origin/Formation of The Central Banking System", surveys the history of central banking system in this area since the beginning of the 19th century till 1993, when the Act No. 6/1993 Sb. about the Czech National Bank came into force in a word of later regulations. In the second chapter I am discussing various banking systems, focusing on the basic one-stage and two-stage classification. The third and fundamental chapter is called "The Role and Activity of The Czech National Bank." It consists of four subchapters, of which the first three -"The Central Banking System in the Czech Republic according to the actual legal regulations", "Constitution" and "Act on The Czech National Bank" should clear up the legal principles, basic determination and position of the Czech National Bank. A brief section about evolution of integration of the charge of the financial market till 1989 is also included in this chapter. The fourth and last subchapter...
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Bank loans for business persons
Dolejš, Jiří ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
12. English summary Bank loans to entrepreneurial (corporate) customers There is no commonly accepted definition of loan in the Czech law and theory. The Czech civil law distinguishes between "loan" (as defined in the commercial code) and "borrowings" (as defined in the civil law code). The definition used by the financial law is more comprehensive and more reflecting the economic sense to the form of the provided money. According to the bank code, loan is temporarily granted cash, no matter in what form. Some definitions in the theory are even more comprehensive including also guarantees and similar products. According to my definition, loan is an instrument, under which cash (or its equivalent in other goods) is temporarily granted to a debtor and cash (or its equivalent in other goods) is returned to the creditor. Cash is always at least either provided in the beginning or returned in the end. "Entrepreneur" is defined in the commercial code. However this definition has to be adjusted to the special law or internal rules of the bank. Entrepreneurial (or in English "corporate") customers include usually entrepreneurs as defined by the commercial law, but excluding some special types of clients as banks and other financial institutions, public subjects and some small entrepreneurs with retail character....
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Providers of investment services in the Czech capital market
Kropíková, Jana ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Providers of investment services are investment firms, investment firms providing investment services in a different member state than in the Czech republic, investment firms providing investment services in the Czech republic, investment intermediaries and tied agent. These subjects are entitled to provide investment services at the czech capital market. In order to ensure high level of protection of investors and transparency and safety of dealing at capital market, there are plenty of requirements set for such providers. they should secure that investment services are provided by persons with sufficient skills and financial and technical background. Furthermore a supervisory authority, Czech national bank in the Czech republic, supervises over their activities. For this reason Czech national bank grants a permition for investment firms, registers investment intermediaries and enlist tied agents into a list of tied agents. Providers of investment firms are obligated to perform wide information obligation towards Czech national bank. The Markets in Financial Instruments Directive (MiFID) brought significant changes to czech capital market. Transposition of MiFID into czech law influences majority of rules dedicated to capital market regulation. The key category which affects investment firms first...
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