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Tax Fraud in the Field of Value Added Tax
KOUTOVÁ, Tereza
The subject of this thesis is to identify the basic principles of tax fraud in the field of value added tax, with a focus on carousel fraud, and to identify the possibilities for companies to avoid such fraud. In addition to defining the operation of the classic carousel frauds and their individual members, the thesis also focuses on their possible solutions or the tax authorities' tools to detect and prove them. In the practical part, the development of the VAT gap, which is an estimate of the size of VAT fraud, has been assessed for the period from 2016 to 2020. On the basis of the results obtained, a positive development of the VAT gap in the EU was noted, while in the Czech Republic it did not show a clear trend, however, the last monitored year brought a significant decrease and the Czech Republic is slightly above the EU average. Furthermore, the relationship between the size of the VAT gap and the factors that could influence it was analysed by using correlation analysis. The factors analysed included the number of VAT payers, the level of GDP or household consumption expenditure. However, the correlation analysis did not confirm the statistical significance of any of the correlation coefficients. The next part of the thesis is devoted to the analysis of a model example of carousel fraud, in terms of cash flow of each member of the fraudulent chain and the procedure of the tax administration for each member, in order to evaluate the profit of the participants from the chain fraud. The results then showed that the missing trader almost always benefits due to its untraceability by the financial administration, the buffer company should have a high financial incentive to take the risk, and the broker then relies in most cases on the tax authorities failing to detect the fraud or to prove the illegality of the deduction.
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Financial analysis of the production company
KOUTOVÁ, Tereza
The subject of this bachelor thesis is the analysis of the financial situation of the production company, which is KOH-I-NOOR HARDTMUTH a.s. based in České Budějovice. For the evaluation of its financial situation were used selected methods of financial analysis, such as horizontal analysis, vertical analysis or analysis of ratios. Furthermore, Du Pont decomposition of return on equity was performed and selected bankruptcy and creditworthy models were used to predict the financial situation. The methods were applied to data available from the company's publicly available financial statements, which are accessible on the Commercial Register's website. The results of individual indicators were compared over time, for the period from 2011 to 2020, but also in space. For this purpose, the average values of CZ-NACE 32 Other manufacturing to which the enterprise belongs were used. The company's competitors, both from the Czech Republic and abroad, also served for the comparison. The financial analysis found that the company has a relatively good and stable financial situation and is not threatened by financial problems in the future, despite the significant impact of the COVID-19 pandemic in the Czech economy. It is due to its relatively stable way of self-financing and very low use of bank loans. In the area of used sources of financing, it would be appropriate for the company to use more cheaper short-term sources, such as short-term bank loans as cheaper alternatives to own equity and long-term sources. The benefit to the company would also be to motivate its customers to repay the business loan earlier, for example by using a discount.
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The Comparison of the Czech Companies´ Possibilities to Enter the Markets of the Persian Gulf Countries
Koutová, Tereza ; Zamykalová, Miroslava (advisor) ; Zaza, Yasar (referee)
This Bachelor Thesis is dealing with the six countries of The Persian Gulf (The United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Qatar, Oman). First of all I bring in some general characteristics of the states, including geographical, demographical, political and cultural information and last but not least features of the countries' economies. In the main part of the thesis I review the cooperation with The Czech Republic and I introduce the experience of two particular companies which have successfully done business in this part of the world. The aim of the final part is to show some sunrise industries in the Gulf states and to bring in some recommendations to entrepreneurs who would be interested in entering the Gulf market.
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