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Tax competition in the European Union : No need for worries?
Vitásek, Jan ; Schneider, Ondřej (advisor) ; Urban, Luděk (referee)
High capital mobility creates headache in some of the European countries who afraid of potential race to the bottom in corporate taxes. They warn the tax competition can have a negative impact on tax revenues and redistributive motives of European governments. These concerns became more pronounced in the wake of the EU enlargement in 2004, when 10 mostly low tax countries entered the EU. Tax competition theories generally conclude there is a pressure forcing corporate tax rates downwards. Nevertheless, under certain conditions the race to the bottom does not have to materialize. Downward trend in corporate taxation is not confirmed by European reality either. Despite lower corporate taxes in new member countries enlargement has not so far led to erosion of tax bases. It is unclear, however, how corporate taxation in the EU will evolve in the following years, especially in face of new European Commission's plan to introduce Common Consolidated Corporate Tax Base (CCCTB) and ongoing process of economic catching-up by new member states. Powered by TCPDF (www.tcpdf.org)
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Pension system in Czech Republic compared with Slovak system
Argayová, Šárka ; Schneider, Ondřej (advisor) ; Hedbávný, Petr (referee)
Czech and Slovak pension systems, after divorce of the federal state in 1993, were based on the same content. Slovak system has come through systematic reform, Czech Republic, on the other hand, for such a complex one still waits. This paper describes in detail both systems and their evolution since separation, with special emphasis on their mandatory parts. First part of the paper gives a theoretical background; contains basic types of pension systems and their characteristics. The next part describes Czech pension system, its development since 1989 and highlights its shortcomings. The fourth chapter comes with possible reforms of this system suggested by experts as well as by Czech political parties. Then I describe in the same way Slovak pension system and its reform. The last chapter is the core part of whole paper, that compares development in both systems, describes their current basis and shows, how demographic and macroeconomic trends influence pension systems. Powered by TCPDF (www.tcpdf.org)
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The flat tax and effects of its implementation in the Central - and East-European countries
Schwarz, Jiří ; Schneider, Ondřej (advisor) ; Geršl, Adam (referee)
This paper deals with an analysis of tax system called the flat tax which was created in theoretical works of economists Robert Hall and Alvin Rabushka. First, in order to illustrate why a debate on tax system change is appropriate even from an economic point of view, we analyze the existing federal income tax in the US. Then we present the flat tax proposal and its positive impacts on economy, which are expected to come as a consequence of tax simplification and lower marginal rates. Again, from an economic point of view, some of these allegedly positive impacts don't seem to be positive at all. Therefore, we question some of the targets and presumptions of the flat tax. The most important critique is a thesis that increases in tax system efficiency lead to increases in government size and hence to higher degree of rent seeking. In the following section we analyze the concept of rent seeking itself and by establishing a connection between rent seeking and legislation, we link it to the debate on flat tax. Then we use empirical data to show the effects of rent seeking and rent avoidance on legislation. Finally, we conclude that it is impossible to find clear evidence of any of the assumed flat-tax effects, because there are many other hardly identifiable factors aside from the tax reform that can have...
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Executive compensation in theory and Czech practice
Gešev, Jordan ; Schneider, Ondřej (advisor) ; Koubek, Ivo (referee)
The thesis describes and analyzes incentives and motivation, an institutional background, individual characteristics and quality of corporate governance and their impact on a level and a structure of executive compensation. The principal-agent model, the managerial power approach and the stewardship model are analyzed and the comparative study is included. Moreover, multitasking and earnings management are discussed. The practical part reminds the transition period and results in the description of some remains. The Czech compensation system is analyzed; the structure of pay is decomposed and commented. Moreover, the legal consequences and institutional characteristics related to executive remuneration are challenged and the approach of tax optimization supremacy criticized. Powered by TCPDF (www.tcpdf.org)
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Corporate taxes within European Union
Bechner, Tomáš ; Kemény, Irena (advisor) ; Schneider, Ondřej (referee)
At the moment the European Commission tries to harmonize common consolidated tax base. This action should replace 27 different tax bases across European single market and improve enterprise environment on the European single market. The problem is with political support for this harmonized legislative step from member states. Due political difficulties for member states each member state accept recommendation from OECD in area of direct taxes and in the case of corporate taxation are mainly used treaties again double taxation. The goal of this thesis is to give an overview about present situation in corporate taxes in the European union and outline possible future development. For corporate is common state useful, because can use potential tax optimization. The fact is, that scope for tax optimization will exist after potential tax harmonization within European Union in form of off-shore companies in tax heavens. Powered by TCPDF (www.tcpdf.org)
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Public debt and household debt
Kvasnička, Jan ; Schneider, Ondřej (referee) ; Gregor, Martin (advisor)
In this thesis, we analyse both the theoretical and the empirical determinants of household debt and public debt, or, more generally, the determinants of saving of these entities. A short survey of the relevant theoretical and empirical literature is presented in the opening chapters. In the second part of the thesis, the tax smoothing model is extended by abandoning the assumption of a benevolent social planner. The main result of the model is a demonstration of the fact, that voters can vote over public budget decits in order to shift relatively high taxation of income into periods in which their income is relatively low. Through this channel, changes in income inequality can be indirectly reflected in public saving.
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Is the Concept of the Laffer Curve Valid ?
Herbst, Karel ; Schneider, Ondřej (advisor) ; Hedbávný, Petr (referee)
i Abstract This thesis deals with the issue of Laffer curve. According to the idea of the Laffer curve when the tax rate exceeds certain treshold (revenue-maximizing tax rate) the tax revenue would in absolute terms decrease with rising tax rate. Therefore this thesis tries to discover whether those facts are valid in the corporate income taxation for 20 OECD countries for the time period from 1965 to 2006. The structure of the thesis could be divided into three parts. In first introductory chapters the issue of taxation would be discussed in general. It will briefly examine the history of taxation and explore the theory of taxation and tax systems. The second part of this thesis will focus on the Laffer curve in detail. Third chapter will introduce the theory behind Laffer curve and discuss its properties for different types of taxation. In the following chapter the literature and different possibilities of estimation of the Laffer curve and (or) Laffer effects would be reviewed. Fifth chapter focuses on the corporate income taxation per se and examines the development of corporate income tax revenue and rates in our sample countries. In the last part of this thesis the econometric estimates of the Laffer curve for corporate income taxation are presented. The Laffer curve would be estimated for three...
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Concept of the Slovak health care reform
Naščák, Andrej ; Schneider, Ondřej (advisor) ; Bryndová, Lucie (referee)
The thesis deals with the Slovak reform of health care system during the years 2003 and 2006. Specifically, it examines the relationship and proportion of both the private and public sector in all aspects of health care system, such as health care police, financing, provision of health care and patient status. Models of world health care systems are introduced first. The thesis then describes and analyses the situation in Slovakia before the year 2003 and also pays attention to the analysis of the demographical development as an important cause of unsustainability of the former system. The thesis also presents facts and consequences of the reform resulting from data and information obtained during the years 2004 and 2005. As an outcome, the thesis concerns how to secure rational distribution of expenses over the time emphasizing that the prevention is the cheapest way of a treatment, this flows from analyses of demographic impact on health care expenditures per capita - time to death methodology is used. It reminds us that population health is for a society not only an expense but also an investment. Powered by TCPDF (www.tcpdf.org)
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Tax competition in the EU : Why not to harmonize corporate income tax
Salí, Martin ; Schneider, Ondřej (advisor) ; Dědek, Oldřich (referee)
In this thesis, I propose to answer the question whether it is necessary to harmonize corporate taxes in the European Union. For this purpose, I carry out an analysis on the existence of corporate tax competition across the EU member states with regard to its leading determinants. I discuss theoretical concepts and conclusions of empirical studies carried out under this topic. By analyzing long-term benefits and costs of fiscal sovereignty of the EU member states in the field of corporate taxation, I come to the conclusion that the tax harmonization in the EU is not needful. I support this outcome with considerations about the net benefit of harmonization, its political enforceability, potential tax exporting effect and growing foreign share on capital, distinction between internal and external tax competition, possibilities of the budget stabilization, spontaneous corporate tax rate convergence and optimal tax structure. Powered by TCPDF (www.tcpdf.org)
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