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Analysis of specific instruments applied in the financial management of TNC with a focus on transfer pricing
Baluchová, Daniela ; Taušer, Josef (advisor) ; Sato, Alexej (referee) ; Baláž, Peter (referee)
Transfer pricing plays a crucial role in the financial management of TNC as it significantly influences revenues and costs allocation among affiliates of TNC that are located in countries with different tax regimes, interest rates, political situation and economic environment. Recently, transfer pricing is scrutinized in respect of tax minimisation strategies adopted by TNC which raises various conflicts of interest with tax authorities in some countries of their presence. The main objective of the dissertation thesis is to provide a comprehensive empirical study on international transfer pricing in the Czech Republic from the perspectives of both taxpayer and the tax authority. With regard to the complexity of transfer pricing, manufacturing afiliates of TNC located in the Czech Republic were selected to be examined in more detail. The thesis is structured into five chapters. The first chapter defines theoretical framework based on which the analytical part of the thesis is elaborated. The strategies applied by TNC in setting transfer prices are strongly affected by the transfer pricing regulation and interpretative experience of the particular countries in which they operate. In this context, the Czech transfer pricing legislation as well as selected case law is analyzed in the second chapter. Given the complexity of the issue of transfer pricing, the third chapter deals with selected aspects that are considered critical when setting transfer prices. The fourth chapter presents key findings regarding transfer pricing strategies applied by TNC located in the Czech Republic to transfer pricing issues. The fifth chapter summarizes the approach of the Czech tax authorities to the transfer pricing audits and at the same time evaluates related risks borne for taxpayers in this respect. The thesis reveals that manufacturing afiliates of TNC located in the Czech Republic generally prefer non market (cost based) transfer pricing methods when setting transfer prices, whereby there are several factors influencing their decision making, out of which internal economic conditions and foreign exchange risk management are deemed the most important factors, while tax optimisation as well as restrictions on profit repatriation are considered relatively less important factors. The study further indicates certain inconsistency between declared functional and risk profiles and decision making competences. In this connection, it was found out that the Czech afiliates in which the foreign parent company is involved in transfer pricing set-up incur tax losses. In response to the increasing importance of transfer pricing and international initiative Action Plan BEPS (Base Erosion and Profit Shifting) it can be stated that the approach of the Czech tax authorities has become more intensified and sophisticated. The Czech tax authorities challenge declared and actual functional and risk profile of taxpayers as well as economic substance of realized intercompany transactions. Furthermore, number of transfer pricing audits has increased and become targeted on risky taxpayers such as companies granting investment incentives or incurring tax losses etc. As a result, additional tax assessment due to incorrect transfer pricing significantly increases over recent years.
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Současný stav příprav Turecka na vstup do Evropské unie
Zaplatílková, Petra ; Hitzgerová, Gabriela (advisor) ; Borgstrom, Anna (referee)
Cílem této práce je shrnout přípravy Turecka na vstup do EU a zhodnotit úspěšnost prováděných reforem jak z dlouhodobého hlediska tak pod vlivem aktuálních událostí. Práce sleduje reformní procesy zhruba od roku 2004. První část vychází především z Předvstupního ekonomického programu pro období 2005-2007, ve kterém si samo Turecko stanovuje cíle a způsoby jejich dosažení na cestě k přijetí acquis communautaire. Druhá část je pak zaměřena na výsledky dosažené v roce 2006 a jejich porovnání s cíli vytyčenými v Předvstupním ekonomickém programu. Třetí kapitola je zaměřena na turecko-kyperskou problematiku.
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Regionální integrace v Latinské Americe a Karibské oblasti a její institucionální aspekty
Lukavská, Dana ; Hitzgerová, Gabriela (advisor) ; Banús, Vidal (referee)
Cílem práce je podat ucelený obraz o nejdůležitějších integračních tendencích včetně souvisejících institucionálních aspektů v Latinské Americe a Karibské oblasti. Práce chce zejména přiblížit vývoj regionálních integračních uskupení a analyzovat cíle jejich činnosti a dosažené výsledky. Hlavní důraz je přitom kladen na dvě nejvýznamnější uskupení Jižní Ameriky - Společný trh Jihu a Andské společenství a dvě středoamerická uskupení - Karibské společenství a Středoamerický společný trh. Mezi pozoruhodné tendence regionální integrace v Latinské Americe patří v současnosti také zintenzivněné úsilí o celoregionální spolupráci. V práci není zapomenuto ani na důležitý aspekt, jímž je spolupráce Latinské Ameriky a Karibiku s Evropskou unií.
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Evaluation of Economic Efficiency of Public Investment Project
Martiniová, Blanka ; Výskala, Miloslav (referee) ; Hromádka, Vít (advisor)
This diploma thesis’ aim is to evaluate an economic effectiveness of the particular investment projects in the public sector. It describes theoretical possibilities and methods of evaluating an investment project generally (not only public one). It also deals with ways how to get financial assurance in the area of public investment. The practical part of the thesis contains the assessment of the economic effectiveness of the particular investment projects in the public sector, where theoretical approach given in the first part of this thesis is applied. The economic effectiveness was elaborated both for financial assurance of the project and for alternative funding from EU resources.
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Business Plan Focused on Financing
Pochyla, Martin ; MBA, Jan Hůla, (referee) ; Mašterová, Lucie (advisor)
The diploma work presents financing from a structural funds of the EU and analysis of problems of this type of financing. Main focus is on elaboration feasibility study (economical project rating), that is an inseparable part of the application for grant from these funds. It also speaks about alternative methods of financial resourcing essentials to realize the desired business plan.
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Evaluation of selected EU countries
Machková, Radka ; Kalčevová, Jana (advisor) ; Kuncová, Martina (referee)
This diploma thesis targets the evaluation of fifteen chosen EU countries using the methods of multicriteria decision-making. The topic is elaborated from the perspective of a student of the University of Economics, Prague, who chooses a suitable country to gain experience abroad. Students' preferences are recorded in a questionnaire and grouped using direct weights estimation method. The ORESTE, WSA, TOPSIS, PROMETHEE II and MAPPAC methods are described in the thesis and applied to the data using an add-on of Microsoft Excel -- Sanna. Since the questionnaire contains a question on the students' subjective ranking of countries, it is possible to compare the two rankings (subjective and calculated) to determine whether they are comparable and the students' decision-making is consistent.
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Maturity to kindergarten entrance
Králová, Barbora ; Opravilová, Eva (advisor) ; Loudová Stralczynská, Barbora (referee)
The purpose of this study is to analyse the level of maturity of children older than two years in the context of their potential integration in the public preschool education system before they reach the age of three years. The first chapter discusses the opinion of the EU Council of the preschool education, its ambition to promote the institutional care in line with the equal opportunities for men and women policy, and the situation in EU member states as regards meeting the 2002 Barcelona goals. The second chapter describes the current legislative and institutional framework in the Czech Republic. It focuses on the applicable legislation, namely the Parental Subsidy Act as amended, and the existing framework of the institutional care in question. The key focus of the third chapter is on children and their needs. The third chapter elaborates on various factors influencing their development such as family situation, age and other individual particularities. The last chapter of the theoretical part is on maturity of a child younger than three years from the point of view of the developmental psychology. The practical part surveys children maturity based on the environment examination in kindergartens, crèches and children homes. It encompasses observations of three children from their day one in...
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Buying and selling logistics of trading company
Líznerová, Jana ; Cimler, Petr (advisor) ; Hommerová, Dita (referee)
This thesis is consisting of theoretical and practical part. In theoretical part few terms are elaborated like: distribution and logistics chain. In other chapters there are topics like: manipulation units and its use, transportation systems, Incoterms (norms of international business) and chapter which includes electronic identification of goods. In practical part there are descriptions of several business activities of small company doing international trade. There is detailed example of doing international business with the help of buying agent in China. In second case is mentioned direct business with producers in China (without cooperation with agent). Following analysis contains advantages and disadvantages of both the cases. In one of the chapters of practical part is written about type of warehousing used by companies (having own or rented warehouse) and about sea transportation. At the end of the thesis there are descriptions about selling logistics of the company.
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