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Tax Havens and their Utilization
Malý, Zdeněk ; Dubový, Roman (referee) ; Kopřiva, Jan (advisor)
This bachelor thesis describes the topic of tax havens and their usage. Further it describes issues of international tax planning. The thesis is divided into three parts. The first one, theoretical, explains basic concepts of this issue. Analytical part follows with description of present state of taxation in selected countries. The last section of this thesis shows some uses of tax havens and whether or not it offers tax advantages.
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Don't pay taxes, save your money!
Bradáč, Michal ; Kemény, Irena (advisor) ; Gregor, Martin (referee)
Bachelor thesis "Don't Pay Taxes, Save Your Money!" focuses on the impact of the existence of tax havens on private and public sector. On the theoretical level, it shows the attractivity of tax havens for sufficiently large firms that can afford to pay costs of tax planning and profit manipulations. On the empirical level, it shows that tax havens are really the most successful jurisdictions in attracting foreign investors. In the end, two models of tax competition are introduced in order to describe the importance of tax competition for the whole economy. Keywords:Tax Haven, Tax Avoidance, Tax Competition
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Treasure islands: the economic analysis of tax havens
Filip, Ondřej ; Janský, Petr (advisor) ; Adam, Tomáš (referee)
Bachelor Thesis Abstract This thesis strives to introduce a wider notion of tax havens. We alter a traditional paradigm by investigating tax havens' influence on economic performance of other countries. The first part of the thesis copes with issues implied by the absence of a suitable tax haven's definition which results in compiling an inclusive list of havens. Subsequently, we present a data-based description of the identified tax havens with an emphasis on several widely-held assertions. The second part delivers an empirical analysis. It illustrates the role of tax havens as financial intermediaries. We examined whether the volumes of capital flows between non-havens and tax havens correspond to the sizes of the counterpart economies and to their mutual distance. Foremost, we found intensified capital flows between tax havens and large non-haven countries in their close proximity. The thesis concludes by a discussion of results.
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Determinants of the Demand for Tax Haven Operations: Empirical Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Švarcová, Natálie (referee)
The aim of this thesis is to explore the firm-specific determinants of the demand for tax haven operations by Czech firms. Our objective is to better understand the firms' incentives for tax haven use, and furthermore whether there exists cross-haven heterogeneity in those incentives. The thesis examines the firms' tax haven investment behaviour by analysing firm-level data for 15,530 Czech firms for year 2013. To the extent of our knowledge, this has been the first research of its kind devoted to Czech firms. The evidence suggests that larger, more profitable firms with larger international presence are most likely to use tax havens. The analysis also indicates that higher firm indebtedness is associated with greater likelihood of establishing tax haven operations. This would suggest Czech firms engage in profit shifting through the use of debt financing. Furthermore, service firms were found to be more likely to use tax havens than manufacturing firms. This contrasts with previous research where R&D intensity was a leading indicator of tax haven use. Additionally, we found significant cross-haven heterogeneity in the determinants, particularly in the sector-specific characteristics. In our sample, service firms favoured Cyprus and the Netherlands, while manufacturing firms preferred Luxembourg...
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Firms and Tax Havens: Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Paulus, Michal (referee)
The aim of this thesis is to provide a description of the phenomenon of tax havens in relation to the Czech Republic. The thesis begins with description of theoretical background of the problem. It provides definition, characteristics, and an overview of main uses of tax havens by Czech firms. This part is followed by analysis of Czech firms controlled from tax havens in order to determine what type of firms is most often leaving the Czech Republic. The analysis showed the largest interest from limited liability companies and companies operating in real estate. The next part of the thesis presents an estimate of tax loss arising from tax haven activities of Czech subjects. It is the first estimate of this kind for the Czech Republic. The resulting tax loss is estimated to be 21 billion CZK per year, which equals to approximately 10% of annual tax revenue from corporate and personal income tax. The thesis is concluded with an overview of counter-measures that are taken worldwide and in the Czech Republic as means of combating the rising phenomenon of tax havens.
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The most advantageous tax havens for athletes
Šebák, Marek ; Štědroň, Bohumír (advisor) ; Ruda, Tomáš (referee)
Title: The most advantageous tax havens for athletes. Objectives: The aim of the bachelor thesis is to determine the most advantageous tax haven that could be used as tax relief by some of the top athletes from Czech Republic. The taxation of an athlete's income in Czech Republic will be compared with taxation in four other countries, which are classified as the most sought-after tax havens in the world. The results of the bachelor thesis will also include the financial expenses associated with the change of the athlete's residency to a specific tax haven. Methods: The athlete has been chosen with a help of a case study, which provided an imaginary athlete XY used for the comparison of the selected countries. This brings us to the comparative method, which was used predominantly and which helped to determine the most advantageous tax haven for our athlete XY. Method of document analysis - from printed literature and electronic sources was used as well. This method enabled us to draw important information for the theoretical and practical parts. Results: It is clear from the results of the work that the most advantageous tax haven for top athletes are the Cayman Islands. In the ten-year horizon, the change of residence, after meeting all the requirements for its acquisition, will start to pay off...
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The most advantageous tax havens for athletes and owners of sports clubs
Šebák, Marek ; Štědroň, Bohumír (advisor) ; Ruda, Tomáš (referee)
Title: The most advantageous tax havens for athletes and owners of sports clubs. Objectives: The aim of this work is to indentify the most advantegous tax heaven countries in the sport world for individual athletes as well as the most profiting offshore regions for football club owners, the latter representing legal entity and sport clubs. Each cathegory will be associated with three different tax heaven countries, which satisfy all factors of the reserach, therefore being the most ideal and simultaneously legal for the athletes and firms to use. Methods: In this work I used methodology of document analysis from various printed literature and electronic academic resources which helped me to approach the theoretical part as well as the practical research. To determine the most relevant criteria for choosing the most advantageous tax heavens I opted for multi-criteria analysis where the most dominant option was zero taxation of a tax subject. In order to finalise the rate of the tax heavens we used data from three different studies approaching tax heavens in general. Results: At the end of the research I came to the conclusion that among the most advantageous tax heavens for individual athletes belong the Cayman Islands, Bahamas and Monaco. All these countries apply zero taxation on income of...
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Optimalization of Tax Burden of the Concern
Pereslenyiová, Michaela ; Hudcová, Dagmar (referee) ; Kopřiva, Jan (advisor)
The aim of this diploma thesis is to optimize the concern in terms of taxes. Model situations should point to tax optimization by moving business to tax havens. Diploma thesis deals particularly different taxation of concern in tax havens. The result of the work will be a proposal and recommendations for the establishment of a company in a tax haven.
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Tax optimization through tax havens - possibilities and risks
NEPOMUCKÁ, Martina
This work compares tax burden of selected entity among different countries with low or zero taxation, called "tax havens", to the Czech Republic. This work also informs about possible methods how to save taxes. Selected tax diagrams of accounting entity are sorted not only by the amount of the tax liability, but also by fees and others indicators that may influence the entity's decision. There are many risks, which are connected with tax havens. The theoretical part is concerned with the history of tax havens. Then, the term tax haven is defined by organizations like EU, Oxfam and so on. In the second part this theoretical part is dedicated selected tax havens. In the practical part the tax schemes are proposed. The chosen countries for tax diagrams are Netherland, Cyprus and the USA. The tax diagrams are ranked in two aspects - possibilities and risks. The best option for the selected entity is the tax diagram - Cyprus, because there is warehouse in Cyprus, income tax is low and risks are low
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