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The relationship between central banks and commercial banks
Růžek, Lukáš ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
This diploma thesis deals with the relationship of the central bank with commercial banks. A central bank perform important functions, and thus it has its own set of competencies needed to achieve its objectives. To those functions belong, above all, participation in creation of binding legal acts and supervision over banking institutions. The Czech National Bank is the central bank of the Czech Republic, and its activities and status are governed, especially, by Act. No. 6/1993 Coll., on the Czech National Bank, as amended. This diploma thesis is divided into three sections. The first section is devoted to the theoretical framework of central banking. The second section is focused on the Czech National Bank and its powers and functions. The last section deals with the development of banking regulation on the international level. The main goal of this diploma thesis is to identify individual interactions between the Czech National Bank and commercial banks.
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Banking secrecy
Taškárová, Ivana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Title of the thesis: Banking secrecy The paper deals with a traditional instrument dedicated to protection of client's personal data provided to the bank - banking secrecy. The instrument is analysed in connection with breaking of banking secrecy. The ways of breaking the banking secrecy are divided into two groups: (i) manners of breaking the banking secrecy regulated by law and (ii) manners of breaking the bank secrecy not specifically regulated by law where the main role is given to secondary legislation and case law. Regarding the ways of breaking regulated by law, the paper describes the Act on Banks as a general law and also regulation included in specific laws. There are two categories of specific laws: which specify the process of breaking the bank secrecy included in the Act on Banks or which regulate specific case of breaking the banking secrecy. As for the civil procedure, there is a premise of diminution of use of the Civil Procedure Act for gathering client information by authorised persons because of the Central Registry of Accounts. The important type of laws regulating the breaking of the banking secrecy is those regulating registers of client information protected by the banking secrecy. The most important development of legislation is the new regulation of non-banking registers in...
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State supervision of financial activities
Vondráčková, Pavlína ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Radvan, Michal (referee)
State supervision of financial activities The topic of this dissertation thesis is the state supervision of financial activities. The topic is really wide, so the author can take into account all of the financial relationships related to this area. This thesis focused on theoretical issues, on the legal relationships in this area, and specifically on the selected areas, in which was a drafted question later on in detail analyzed. In the theoretical area are considered terms such as regulation, supervision and control. The aim was to define these concepts theoretically, to chart their frequency and semantic nature in the area of financial activities. The aim of this thesis was also to investigate, whether it is possible to set out the terms that are used both in everyday and in professional life in an identical meaning, and define specifically for the area of financial law. It has been found that it is very difficult, if not impossible task, as any definition cannot cover the diversity, frequency and a steady increase in the financial legal relations. Higher attention is paid to external control exercised by the Supreme Audit Office. This issue is consider to be very important, but it is underappreciated and very sporadically also published, which is inconvenient and inadequate to the importance of...
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Exemption of Supply of Selected Immovable Property from Value Added Tax
Sejkora, Tomáš ; Kohajda, Michael (advisor) ; Boháč, Radim (referee)
- 133 - Abstract The thesis is focused on the legal regulation on the exemption of the supply of selected immovable property from VAT without deductibility of the VAT paid at the preceding stage. The main aim of the thesis is to analyze the so called best practice in the field of VAT. This aim shall be reached by the analysis of the relevant Czech and European Union legislation governing the VAT. The thesis was created with the use of analysis, synthesis, comparative tax law and description as the methods of scientific work. The definition of the purpose of the supply of a building or of a land on which a building stands pursuant to the directive on VAT could be found as the first result of the research. The VAT legislation of the EU Member States shall be interpreted with the use of this definition and the systematic interpretative method. The second result of this thesis is the interpretation of the Czech legal terms in accordance to the EU. legislation. It is necessary to admit that the Czech legal terms in the Act on VAT originate from the Czech private law legislation but their particular meaning in the Act on VAT differs. The third result of this thesis is an assessment whether the relevant provisions of the Czech Act on VAT are in concordance with the EU legislation. The author concluded that such...
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Payments of a fiscal nature in Islamic law
Vojtěch, Jakub ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Abstract, Thesis Title, Keywords in English Language The text aims to offer a depiction of the system of selected payments having tax features, which are contained in Islamic law, based on a wide range of specialized literature and especilally on the primary sources of Islamic law. The primary objective of this paper is a review of the Islamic payments of a fiscal nature from the point of view of the theoretical knowledge as stated in the Czech tax legal theory. The system of Islamic payments that have been examined includes: i) Zakat, ii) Jizya, iii) Kharaj, iv) Khums, v) Sadaqa, including its form of Waqf, and finally vi) 'Ushr. From the perspective of the Czech tax legal theory only Zakat, Jizya, Kharaj and 'Ushr meet (albeit often with certain caveats) the obligatory theoretical requirements for taxes. Thesis Title: Payments of a fiscal nature in Islamic law. Keywords: Islam; Law; Taxes.
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Law regulation of banknotes and coins circulation in the Czech Republic
Vrba, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This thesis focuses on the law regulation of the paper currency, coins and money circulation in the Czech Republic. It is divided into six chapters. The first chapter is intended to introduce the issue of the currency to a reader by explaining the concept of money, currency, legal tenders and related matters. It describes also the process of money creation and historical evolution of money in the world and within the Czech Republic as well. The second chapter examines the current law regulation regarding to the currency and the money circulation in the Czech Republic. It provides brief explanation of source of law concept and specifies the fundamental legal regulations relating to the currency and money circulation. The third chapter is concentrated on the role of the Czech national bank as the central bank of the Czech Republic. The fundamental activities performed by the Czech national bank upon the laws, such as the issuance of the fiat money and the management of the circulation of currency, are discussed in this chapter. The fourth chapter is dedicated to the Czech coinage. The chapter describes structure of currency in circulation in the Czech Republic, reveals what is the legal tender in the Czech Republic and identifies certain loophole (error in law) in the regulation regarding the...
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Legal regulation of the activities of banks
Košťál, Filip ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
in English - Diploma thesis - Filip Košťál The topic of this thesis is "Legal Regulation of Banking Activities". Firstly, the thesis describes reasons and theoretical basis for regulation of banks. Next, the thesis focuses on three levels of regulation of banking, i.e., regulation within the Basel Committee on Banking Supervision, which prepares recommendations, which, however, are mostly followed by regulatory activities at the European Union level. Last but not least, the thesis also focuses on Czech legislation, which is, together with directly applicable regulations of the European Union binding for banks carrying out activities in the Czech Republic. The main purpose of this thesis is to provide the reader with a consolidated insight into all three levels of banking regulation and point out potentially problematic points arising out of it. The thesis also illustrates some of the aspects of banking regulation on specific examples from the Czech banking sector. The abovementioned regulatory measures deal mostly with prudential rules for banks. The thesis, however, focuses also on some other selected areas of banking regulation, namely banking secrecy and its release with regard to credit registers, obligations of banks arising out of the act on selected measures against legitimisation of...
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The Czech National Bank, its legal position and scope of activities
Filípková, Olga ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
The Czech National Bank, its legal position and scope of activities This diploma thesis evaluates the legal position and scope of activities of the Czech National Bank through the analysis of the current legislation, literature and other sources. Partial aspects affecting the legal position and activities of the Czech National Bank are described separately, but due to their mutual connections it is important to see them as a part of the whole context. The thesis also points at questionable issues and offers both expert's as well as author's attitudes. This diploma thesis is divided into five chapters. The first chapter characterizes central banking itself, defines the role of the central bank in the banking system, shows the differences in conception of central bank and outlines the methods of establishing of central banks. The second chapter briefly describes the evolution of central banking in our country, focusing on the importance of historical events, which contributed to the creation of the Czech National Bank, as we know it today. Historical excursion begins with a period of Austro-Hungarian Empire and continues to the present. The third chapter consists of logically organized overview of particular aspects of the legal position of the Czech National Bank, including relations with other...
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Supervision of the financial system in the European Union
Žáček, Ondřej ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
1 Abstract This master thesis deals with the arrangement of the supervision of the financial system in the European Union. Its content and structure is strongly tied with two principal supervisory pillars - European System of Financial Supervision (ESFS) and Single Supervisory Mechanism (SSM). The first chapter starts with the historical background of the European financial supervision and proceeds to the recent global Great recession which motivated the reforms that led to the current state of the supervisory structure. The operation of the ESFS and SSM is thoroughly explained in chapters two and three respectively, moreover I cover their interaction with national supervisory authorities and special emphasis is put on the role of the Czech National Bank. Several controversial issues are also reflected in the course of the thesis, ie. rather regulatory than supervisory role of the European supervisory authorities which contradicts the initially declared intentions, their low operability or quite illusory legislative demand of extensive independence of national representatives when they stand for their respective home authorities in the European institutions. The emphasis on the Czech Republic is evident from the sub-chapter regarding the potential entry into the close cooperation with the Single Supervisory...
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The abuse of right in Taxes
Hoppe, Gabriela ; Boháč, Radim (advisor) ; Kohajda, Michael (referee)
Abuse of law in taxes - abstract The author has decided to choose this particular topic as it concerns her occupations as tax advisor. The doctrine of abuse of law is actually becoming more frequent not only in the tax cases decided by the Court of Justice of the European Union, by the Czech Supreme Administrative Court and lower Czech courts but also often occurs in the regular tax proceeding conducted by all levels of the Czech tax administration. The aim of the author was to analyse the doctrine and try to develop a practical instrument for decision making of common Czech taxpayers. The thesis is decided in two parts and conclusion. In the first part, the doctrine of abuse of law and related concepts as tax avoidance, tax evasion, substance-over-form rule, sham transactions and tax optimization in the Czech law theory and legislation is analysed, in second chapter the author has looked more closely into cases decided by Czech courts. In the third chapter are analysed the most important cases concerning abuse of law decided by the Court of Justice of the European Union. In second part of the thesis are commented some practical measures to avoid harmful tax planning arrangements used as in the Czech republic as abroad, including the recently adopted BEPS Action Plan of OECD which refers to tax planning...
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