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The foreign tax relations
Lauschmann, Jindřich ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Issues of international tax relations are a very important matter in the domain of international business. Double taxation of income and capital, administrative demands of crossborder tax relations, and from the point of view of tax authorities also fight against tax evasion, these all are problems that must be considered rigorously in a world economicaly based on international exchange of goods and services. What's more, these issues are dealt with on mutualy distinct legal legal levels of domestic, European and international law, and only with deep analysis of all three systems in context of each other can be identified what rules govern specific issues of international tax relations. Although some areas, especially avoding international double taxation, are nowadays resolved in a satisfactory way, other issues, e.g. crossborder assistance in collection of taxes, are yet to be settled complacently. This thesis is aimed at exploring international tax relations and legal rules, that govern these relations. Where possible, author takes broader look at issues at hand; where finding relevant resources is too challenging, it takes a point of view from perspective of czech legal system including valid international agreements. Main part of this text deals with issues related to prevention of...
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On Supervision of Financial Markets by Czech National Bank
Skácelík, David ; Marková, Hana (advisor) ; Kohajda, Michael (referee) ; Švarc, Zbyněk (referee)
1 Abstract This work deals with the performance of supervision over the financial market and the entities operating in the financial market. Part of the work is devoted to consumer protection in the financial market and compensation systems. Because of the fact that the Czech Republic became a member of the European Union in 2004, this work includes also legislation of regulation and supervision of this level, as this treatment significantly predetermines Czech adjustment. Following questions were examined as an example of protecting the interests of clients of supervised entities: - whether there are any tools to protect the client's interests at the level of supervised entities, - what kind of role the supervisory authority has or may have in relation between a supervised entity and its client, - how are the client's financial interests protected in the event of failure of the supervised entity and whether this protection is de lege lata sufficient. The theoretical part of the work briefly describes the institute of supervision, its assorting and forms. The authority of supervisor is discussed in the next part together with the regulations under which the supervision is conducted. Owing to the fact that the scope of supervisory activity of the Czech National Bank is quite extensive, and the objective of...
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The status and activities of the Czech National Bank in the context of European development
Kočová, Olga ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
Title: The status and activities of the Czech National Bank in the context of European development Abstract The aim of this thesis is to analyze the legal status, power and scope of activities of the Czech National Bank as the central bank of the Czech Republic with regard to the historical development of this institution and the development of European legislation. The main part of the thesis is focused on possible impacts of euro adoption in the Czech Republic, mainly the impact on legislature, the status and activities of the Czech National Bank. Introductory chapters focus on the historical development and institutional framework of central banks in our country, followed by the description of the main features of the Czech National Bank, with a focus on monetary policy, regulation and supervision of financial markets. The last two chapters deal with the issue of the European Monetary Union, the adoption of the common European currency and the fulfillment of the convergence criteria in the Czech Republic. Keywords Czech National Bank, European Economic and Monetary union, monetary policy and euro
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Public Law Regulation of the Activity of Insurance Intermediaries
Vostatková, Lucie ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
The purpose of this thesis on "Public Law Regulation of the Insurance Intermediaries" is the evaluation of the current regulation of the insurance intermediaries with regard to the goals of the public-law regulation of this sector. In the first part using the historical overview both in Czech and Europian context I am concluding the grounds and demands standing in the beginning of express formulation of the public interest that the state power should interfere with the insurance mediation sphere. In the following parts there are the selected provisions of the Act no. 38/2004 Coll. Of Acts, on the insurance intermediaries, and their impact on the practical execution of the intermediation activity analyzed. I am emphasizing the mandatory registration made by the state authority as a condition for entering the industry. An attention is devoted to the requirements of the professional ability and to the evaluation of its proper legal treatment with regard to the scope of competence of individual categories of intermediaries. In the last chapter there is a review of the proposed legislation which is currently in progress within the legislation procedure executed.
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Claims in insurance business
Suchánková, Martina ; Karfíková, Marie (advisor) ; Kohajda, Michael (referee)
In the presented thesis I pursue the issues of the receivables in insurance with the accent to the receivables of the insurer where the insurer is the creditor. I describe the most common types of the claims which is the category connected to the cause of origin - outstanding premium from the insurance contract, recourse right of the insurer, title to claim back the intermediary commission (cancellation commission), etc. In the following part of my thesis I pay attention to the methods of claim settlement. Since it is related to the issues of the receivables in insurance I cannot leave out also the claims of the Czech Office of Insurers (Česká kancelář pojistitelů - ČKP), institution that is not an insurer but fulfils similar role in certain situations and therefore has its un-replaceable place on the Czech Insurance market. Important part of my thesis is dedicated to the analysis of judicator most importantly in the connection with the application of the recourse rights. In the chapter " Attorneys reward" I stress out the issues of so called prerogative ordinance that is currently very actual. I am trying to consider all above mentioned issues not only with the respect to already established practice and more or less stabile judicator but most importantly with the respect to the new Civil Code.
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Legal regulation of the activities of banks
Jedlička, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The subject matter of this thesis is a treatise on legal regulation of bank activities. I have chosen this topic for its recency in a connection with global financial crisis and also in a connection with application of new European legislation in the field of bank regulation. Activities of banks belong among one of the most regulated market areas because eventual failures of banks are very dangerous not only for a functioning of the bank system but also for a huge amount of other subjects dependent on proper financial factoring. An importance of bank regulation is also given by a large amount of depositors who have their money deposited with the bank and who can lose their funds in the case of a failure of the bank unless the institutes of the financial safety net will provide compensation. Regulatory rules impact on banks already in the phase of their origin. There are strict conditions for an obtaining of the bank license from a reason of a prevention of an entry of unhealthy business subjects to bank market to avoid problems prior to their creation. An exit from bank market is also regulated in the form of a different legal regulation of insolvency and liquidation of the bank. The thesis is divided into eleven chapters which are divided into several subsequent subchapters. The thesis starts with...
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The Financial System Supervision in the European Union
Mokoš, Martin ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee) ; Papoušková, Zdenka (referee)
The Financial System Supervision in the European Union Abstract In the first chapter of my dissertation theses, I defined the objectives of the dissertation theses, I chose suitable methods of scientific work, which I applied in the entire process of creating the dissertation theses, I described them in more detail, and I also described in detail the entire methodology of the dissertation theses. In the second chapter of the dissertation theses, I paid attention to the definition of the financial system in the European Union and also to the legal acts of supervision over the financial system in the European Union. I also described the basic supervision of the financial system in the European Union, the banking union as part of the financial supervision system, as well as the European System of Central Banks (ESCB) and summarized other aspects of the supervision of the financial system in the European Union. At the end of this chapter, I state that by summarizing the institutional arrangement of European supervision, I have fulfilled one of the set sub-goals. In the third and fourth chapters, I described and evaluated the functioning and structures of specific components of the mechanism of macroprudential supervision and microprudential supervision of the European Union as part of the supervision of the...
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Crowdfunding platform models from the perspective of the new EU regulation
Peštál, Jakub ; Sejkora, Tomáš (advisor) ; Kohajda, Michael (referee)
This thesis focuses on the definition of the scope of the new EU Crowdfunding Regulation and the implications for operators of crowdfunding platforms with different business models. The aim of this thesis is to assess which business models of financial crowdfunding fall within the scope of the new Crowdfunding Regulation and which do not. For those business models that, for the reasons presented in the thesis, do not fall within its scope, the thesis seeks to provide an answer as to what legislation applies to such models. The first part of the thesis defines different models and types of crowdfunding, the history and development of crowdfunding into its modern form and the characteristics of crowdfunding. The Crowdfunding Regulation applies to financial crowdfunding, while non- financial crowdfunding represented by donation-based and reward-based types falls outside the scope of the new EU Regulation. The second part of the thesis focuses on the first of the two types of financial crowdfunding, i.e. lending-based crowdfunding. The definition of a loan under the Crowdfunding Regulation itself is introduced and analysed. This is followed by an introduction of the different business models used in practice and an assessment of whether or not they fall within the scope of the new EU Regulation....
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Investment asset management comparable to fund management
Pivko, Petr ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
4 Investment asset management comparable to fund management Abstract This thesis concerns the analysis of the legal regulation of the functioning of mini-funds, or persons according to Section 15 of Act No. 240/2013 Coll., on Investment Companies and Investment Funds. These are entities that can manage investment assets without requiring the relevant public authorisation granted by the Czech National Bank. The essence of their existence is the fact that they fulfil some of the characteristics of investment funds, although they are not investment funds. The popularity of the use of this institute in the context of collective investment escalated during the pandemic of the Covid-19 disease. In my thesis I analyse the rights and obligations linked with this management, the legal relations towards investors and also towards the Czech National Bank. The thesis consists of several parts, namely an introduction of the European legislation on which the Czech legislation is based, and the most important part, both in terms of its scope and significance, containing a description and analysis of the Czech legislation. The thesis also includes research on the domestic mini-fund market, where data representing a part of the market are presented and provide insight into, for example, how much assets mini-funds represent...
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The Czech National Bank and Inflation Targeting as an Instrument of Maintaining Price Stability
Pokorný, Tomáš ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
Title: The Czech National Bank and Inflation Targeting as an Instrument of Maintaining Price Stability Author: Ing. Tomáš Pokorný Supervisor: doc. JUDr. Michael Kohajda Ph.D. When performing monetary policy, the central bank can follow inflation targeting or other monetary policy rules. Following a rule, the central bank can efficiently stabilize economic development in the long run, because the changes in the mon- etary policy given by the policy rule are included in the rational expectations of agents. It might seem that the consistency of monetary policy is secured by following the policy rule only. The potential discretion, however, remains in the different preferences of the bank board members, which may completely change monetary policy decisions within the given monetary policy rule. Current leg- islation does not prevent this discretion by any means as the decision of bank board members' appointment is awarded to the Czech president exclusively, who can completely disrupt the monetary policy consistency with the previous bank board. The changes in the bank board preferences are analyzed using the GMM method on two subsamples in the period of 1996 Q3 - 2021 Q2. The empirical analysis shows that the Czech National Bank followed its constitutional duty and reacted with its policy rates to the...
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