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Tax base of corporate income tax
Zajíčková, Miroslava ; Kohajda, Michael (referee) ; Boháč, Radim (advisor)
74 Summary Income Tax Base of Legal Persons Legal regulation of tax base in our conditions is very complex and instable, because tax laws are being adjusted every year. The biggest problem in my opinion are references to Accountancy Act, because the amendments of this act have brought many new elements to accounting, that result in an inevitable need of performing non- accounting operations during the calculation of tax base for legal persons. Furthermore, I am not sure, whether the current tendency of decreasing the tax rate, can be sustained, particularly in the conditions of the present complicated economic situation. The impact on public budgets in the Czech Republic is the question. It is positive, when the setup of tax law reflects the current situation, but I think that too frequent changes to the taxation system - as they were done in the last years - do not suit the legal certainty. It is necessary to introduce regulation, that will be stable and simpler, because the present Income Tax Act is confused and unnecessarily complicated. I think that the proposal of a new Income Act, in its current shape, gives hope for taking the right direction. The Commission's proposal of common common consolidated corporate income tax base is a good idea, but it can also be a danger. It is necessary to consider...
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The Czech National Bank - its legal status
Nováková, Marianna ; Kohajda, Michael (referee) ; Boháč, Radim (advisor)
71 Summary Czech National Bank - Legal Position This paper analyses the legal position of Czech Natitonal Bank as an entity vested with the powers and functions of central bank. The legal position of Czech National Bank is determined by the Constitution of the Czech Republic and implementing statute - Act. No. 6/1993 Coll., on the Czech National Bank, as amended. Article 98 of the Constitution of the Czech Republic estabilishes CNB as central bank of the state and sets its primary objective which is to maintain price stability. Interventions in its activities are only permissible on the basis of the law. Under Act No. 6/1993 Coll., on the Czech National Bank, central bank is an institution governed by public law, supervisor of czech financial market and it is vested with the powers of administartive authority to the extend specified by the law. It manages the assets entrusted to it by the state independently and with due diligence. Initial part of this paper (chapter 2) presents economic links of central banking, while concentrating on origin of money, banking system and central banking with its functions as whole. Chapter 3 is dedicated to the concept of independency of central bank, relations of independency and accountability and main principles of independency according to the legislation of the...
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Tax aspects of the real property disposal within selected foreign legal regulations
Břeň, Josef ; Novotný, Petr (advisor) ; Kohajda, Michael (referee)
81 7. Résumé My diploma thesis should offer a relatively complex view of the subject of Taxation of real estate transactions with a focus on the comparison of the Czech tax system with Austrian tax system, which comprises of several direct and indirect taxes concerning wealth transfers and wealth itself, especially immovable property. It deals with a specific view of problems rising in accordance of Tax theory. The following article is actually based on several taxes, which exists in the Czech and Austrian legal system, regulated mainly in inheritance tax, gift tax, real estate transfer tax, income tax and value added tax. The main theme of the thesis begins in the second chapter which is focused on brief information about the explanation and analysis of basic terminology, tax theory, classification of different types of taxes and principles of tax construction, showing its main components and relevant effects caused by them. The third chapter of my thesis is focused on the main topic "Tax aspects of real- estate transactions in context of selected foreign system of law" including comparison of Austrian and Czech tax legal system with the consideration of basic tax structural components as object of taxation, tax base, tax base adjustment components (e.g. exemptions from taxation, tax reduction…), tax rate...
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Legal regulation of the state support of business and export
Ševčíková, Jana ; Marková, Hana (advisor) ; Kohajda, Michael (referee)
63 Export Promotion and Legislation Master Thesis Jana Ševčíková This Thesis' topic is introduced in part One. In Czechoslovakia international trade carried out mainly through product specialised trading houses until the early 1990s. This lead to a situation where Czech companies in general knew how to produce marketable goods but had no experience with international trade. In many cases, managers were not familiar with the differences in business practices, and in wider commercial and social culture, of potential partners. Part Two of the Thesis deals with the current system of export promotion in the Czech Republic. Early in the 1990s the Czech Government realised there was a need for introduction of the system of export promotion similar to those offered by other European countries. The Export Guarantee and Insurance Corporation ("EGAP") along with the Czech Export Bank ("CEB") were set up as Export Credit Agencies of the Czech Republic. This Thesis analyses and assesses products offered by both CEB and EGAP. For Czech business, export promotion is further complimented by the services of CzechTrade, the Government trade promotion agency, as well as by CzechInvest, Czech Centers and the Commercial and Economic Sections of Embassies and Consulates abroad. Cooperation between financial institutions in the...
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Financial market and its prospects
Papřok, Richard ; Kohajda, Michael (referee) ; Kotáb, Petr (advisor)
78 Abstract Financial market and its perspectives The purpose of my thesis is to study financial market and its prospective. The thesis is composed of two main chapters, each of them dealing with different topic concerning financial markets. The reason for my research is that I find both these as highly topical and important. Chapter One deals with indirect holding system. The chapter is divided into eight parts. Part One describes introductory terms, Part Two explains general demands on every national Indirect Holding system, Part Three deals deeply with history which seems to be really exciting. Next five Parts presents international comparison of several systems. Part One deals with the most standard American legislature with attention to voting system, Part Two with English system based on case law and with attention to proposed FMLC legislation. Part Three is devoted to the new Czech proposed system and describes some problems with new legislation. Part Seven focuses on initiative of European Commission and last part deals with two international initiatives. Chapter Two examines new European legislation concerning market in financial instruments. The chapter consists of five parts. Part One describes shortly History of European financial market harmonisation, part two describes so called Lamfalussy...
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Legal regulation of special funds in collective investments focused on the function of a bank as depositary
Barton, Jan ; Kohajda, Michael (referee) ; Kotáb, Petr (advisor)
104 Resumé The aim of the master thesis (Legal regulations on collective investing with a view to the role of bank as a depositary) is to analyze contemporary situation of collective investment in European and national context in the light of recent developments and trends in the world financial markets. The main purpose to pursue this subject matter and also the reason why this master thesis has been written is to obtain a clear overview of all regulations and principles (not merely at statutory level) which might affect the activities connected with founding, operation and investment decisions of UCITS and non-UCITS collective investment entities. Second part of the thesis, after the introduction, describes shortly the historical roots of collective investing, followed by a separate subchapter covering the general principle of collective investing through which all other parts of the thesis are knotted together. Third part provides a short structuring of the collective investment entities from a legal point of view, taking into account different characteristics of corporate entities engaged. Also diverse investment strategies and the increasing importance of collective investing within financial market's intermediary functions are mentioned hereby. Fourth part is consequently devoted to the pure...
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Value added tax from the point of view of Czech and Community law
Procházka, Ondřej ; Kohajda, Michael (referee) ; Boháč, Radim (advisor)
Value Added Tax in EC and Czech Tax Law Since 1950s, tax systems of jurisdictions around the world have undergone a revolutionary change, marked by the proliferation of value added tax. The pioneering jurisdiction in this respect has been the supranational European Economic Community, known as the European Community since 1992. Its common system of VAT has set out an example of an invoice based, credit substraction VAT which has since become a model for developed and deve- loping countries alike. In the Czech Republic, VAT was introduced in 1992 under strong EC influence, as part of a far-reaching tax reform aiming at adapting the tax system to the needs of market economy. As of May 1, 2004, Czech Republic joined the EC and became part of the common system. In this work, we first provide a general overview of the VAT. We identify its key characteristics and use classification to discuss the pros and cons of the invoice based credit substraction system. We review the VAT from the fiscal policy perspective and apply the criterions of sound tax design to explain the reasoning behind its popularity. Next, we explore in depth the development of common system of VAT in the EC. We discuss the reasoning behind its introduction, the economic and legal circumstances of its adoption and further development. We deem that...
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Charging for Ordinary Use of Roads in the Czech Republic
Legemzová, Katarína ; Kohajda, Michael (referee) ; Boháč, Radim (advisor)
81 Závěr Česká republika se v průběhu roku 2003 vydala na cestu hledání nových efektivních způsobů, jak financovat výstavbu, údržbu a modernizaci svých pozemních komunikací. Rozhodla se respektovat evropský trend reprezentovaný souslovím o tom, že uživatel platí a zavést výkonové zpoplatnění obecného užívání pozemních komunikací. Tento trend a způsob považuji za nejvíce spravedlivý. Provozování systému elektronického mýtného má však za sebou jen necelé tři roky provozu a už v průběhu tohoto času se ukázaly a ukazují problémy a nedostatky právní úpravy na úseku mýtného. Prvním problémem, který však na samotný provoz mýtného systému nebo jeho efektivitu nemá vliv, je jistá roztříštěnost a nepřehlednost právní úpravy. Považuji za správné použití právních předpisů nižší právní síly, které upraví základní zákonnou úpravu. Ovšem způsob neustálých novelizací zákona o pozemních komunikacích, z něj činí normu méně a méně přehlednou, bez právní kultury. Bohužel ani do budoucnosti se naši zákonodárci nerozhodli pro změnu tohoto trendu. Druhým problémem, kterému je mýtné vystaveno, ale rovněž nemá vliv na samotný systém, je nadužívání pojmu mýtné a s tím spojené jeho zaměňování s jinými. Dnešní zákon o pozemních komunikacích zná mýtné jako způsob výkonového zpoplatnění. Podle mého názoru dochází k mystifikaci, když...
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Taxation of income of business companies and their members (comparison of legal regulation in the Czech Republic and selected EU countries)
Boháček, Pavel ; Novotný, Petr (advisor) ; Kohajda, Michael (referee)
87 Resumé This diploma thesis named "Taxation of income of companies and their participants (comparison of legal regulations in the selected EU states - the Czech Republic, Slovakia and Poland)". The thesis is divided into a theoretical and practical part. Chapters 1 - 6 form the theoretical part and chapters 7 - 9 form the practical part. The theoretical part contains a definition of tax, possible division of taxes, definition of a tax system and description of the structure of tax systems in the selected EU states, namely in the Czech Republic, Slovakia and Poland. Afterwards, I define the main legal sources relating to taxation of companies and its participants in the above mentioned states as well as relevant international treaties on avoidance of double taxation. This is followed by a brief theoretical description of basic concepts in the tax theory - tax object, tax base and tax maturity. Another chapter pays attention to the importance of international treaties on avoidance of double taxation and to explanation of the main principles of the methods on elimination of double taxation. Chapters 5 and 6 contain legal definition of various types of companies, characteristics of the possible participants in relation to these types of companies and a legal definition of the term "resident" from the...
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