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Depreciation of fixed assets from an accounting and tax point of view
FLORIANOVÁ, Kristýna
This bachelor thesis analyzes the depreciation policy of the company Podzimek a synové s.r.o. After a brief introduction of the company and its market position, both accounting and tax depreciation methods applied by the company to most of its assets are calculated. These methods include accelerated tax depreciation and accounting percentage depreciation. Depreciation is calculated for a passenger car, container and camera system. This asset is further subjected to calculations of other depreciation methods, namely straight-line tax depreciation, and from accounting perspective, SYD method, DDB method, annuity method, slow depreciation method, and performance method. All types of depreciation are subsequently compared to each other and the result of this comparison is the annual differences between accounting and tax depreciation. The differences indicate whether there is a decrease or increase in the accounting profit when transformed into the tax base. The ideal combination of methods, both accounting and tax depreciation, for the company is evaluated not only from this aspect but also with regard to the increase in the corporate income tax rate from 2024. For a passenger car, the combination of accelerated tax depreciation and performance method is proposed for the greatest reduction in accounting profit. Compared to the combination used by the company, for example in 2023, it would result in tax savings of 12 315,61 CZK. However, considering the increase in the corporate income tax rate, it is advantageous for the company to have a higher tax base at the end of 2023 than at the end of 2024. Therefore, from this perspective, the combination of straight-line tax depreciation and the DDB method is considered to be moe appropriate, as the tax base is slightly increased until the rate is increased, but from the moment the rate is increased, the company can start to reduce the tax base. Evaluation of the remaining types of assets is performed on a similar basis.
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Transformation process of economic result to the corporate tax base
Vrána, Jan ; Zelenková, Marie (advisor) ; Ašenbrenerová, Petra (referee)
The main goal of this Bachelor thesis is to summarize problematics of creation of the corporate income tax base. It deals with the transformation from the economic result to the corporate income tax base through the exclusion of non-tax deductible costs and exempt income, removal of tax base deductions and tax credits. In first theoretical part of this Bachelor thesis these concepts are described in detail. The differences between accounting and tax provisions, adjusting entries and depreciation are described too. Further the accounting basics according to Czech law are concisely described because accounting is the main source of information when determining the tax base. The basic information about corporate income tax is mentioned too. The identified information is then applied to practical example of fictive accounting entity. This entire process of transformation is demonstrated together with filing of tax declaration of corporate income tax.
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Accounting of corporate tax of business entities in Belarus
Seravokaya, Veranika ; Purina, Marina (advisor) ; Hora, Michal (referee)
This bachelor thesis deals with the issues of identifying and estimating corporate tax of business entities in Belarus. It also contains information about relevant changes in the area of taxation of business entities that radically affect calculation of tax liability. The aim of this work is to inform the reader about two closely related accounting and tax systems of the Republic of Belarus and show both theoretically and practically the procedure of calculating and accounting the tax burden.
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Transformation of accounting profit to the corporate tax base
Svobodová, Petra ; Jurka, Robert (advisor) ; Dolanská, Darina (referee)
The bachelor thesis deals with transformation of accounting profit to the corporate tax base in accordance with appropriate laws in Czech republic. The thesis is comprised of two parts. The first one, theoretical part, is focused on the most common adjustments of accounting profit. It defines expenses and revenues, which can not be contained in corporate tax base. The practical part is comprised of complex example, which includes filling of the tax return.
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Transformation of trading income before tax to tax base for legal entity
Špetová, Aneta ; Jirásková, Simona (advisor) ; Černý, Václav (referee)
The thesis pursues "transformation of trading income before tax to tax base for legal entity". The theoretical part of this thesis is divided into four separate chapters. The first chapter characterizes a term of accountancy and its regulation from view of international and Czech legislation. The second chapter deals with the legal entity income tax. It defines basic terms as taxpayer, tax object and tax base, tax period and rate of tax. The third chapter defines the selected costs (expenses), characterizes it from view of accountancy and taxation and adverts to possible impact of it on tax base. The last chapter deals with an alternation of tax base to the final tax duty. The practical part forms an all-embracing example, which engages in mentioned issues. The filling of the tax return is part of the example. The object of this thesis is to inform the readers about the transformation, to point out to wide range of acknowledge, which to be applied by a determination of the legal entity income tax.
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Trading result versus tax base from corporate income
Srbená, Adriana ; Jirásková, Simona (advisor) ; Černý, Václav (referee)
The goal of the thesis is to make reader familiar with the issue of modification a trading result to a tax base and practical illustrations of necessary processes when calculating due tax. This is demonstrated especially by the methods of raising or reducing trading result in accordance with Czech accounting legislation. The thesis deals with description of items that can influence a tax base. These are mainly depreciations, reserves and adjustments. One of the parts describes the ways of influencing a tax base in case of obligation of recording according to IFRS. The thesis mentions the problems linked with this as well.
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Corporate Income Tax
Majer, Jakub ; Randáková, Monika (advisor) ; Míková, Marie (referee)
This diploma thesis deals with the corporate income tax. At first there are explained adjustments of accounting profit in the procedure defining the tax base, the most important part of which relates to tax deductible and non-deductible expenses. Subsequently there is defined how to determine the amount of payable tax and how to report this tax in financial statements. There is also mentioned the impact of payable tax on the disposable profit. The hypothesis, that in most cases the payable income tax is higher than the product of accounting profit before tax and tax rate, is tested in the concluding part of this thesis.
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Corporate Income Taxes in Accounting
Kalivodová, Tereza ; Randáková, Monika (advisor) ; Bokšová, Jiřina (referee)
The aim of this thesis on "Corporate Income Taxes in Accounting" is to show what takes place this tax in the tax system of Czech Republic, to define the current legislation of this issue, to describe the procedures to detect the amount of payable tax and deferred tax and their subsequent reporting in financial statements. Finally, it views the impact of these taxes on disposable income of the entity.
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Trading Income Transform to The Income Tax Base into Variety of Companies
SVÁČKOVÁ, Veronika
The main and fundamental goal of this work is the taxation of the various types of the companies. Of course, the height of taxation is one of the general questions. A lot of people are also interested in the way of guarantee. In the Czech law there are these types of companies: limited company, join stock company, special limited partnership and co partnership. In every company the economic result is to tax another system. The economic result is the difference between revenues and costs. But it cannot be considered a tax base. The economic result is increased by non-taxable costs. And this is called the tax base. In the Czech law there are two types of taxation. The first one is the legal entity income tax and its rate is 21 % and the other one is the natural person income and its rate is 15 % for both (in 2008).
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