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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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Changes in the financial sector and their impact on economic development
Čigášová, Patrícia ; Šíma, Ondřej (advisor) ; Obešlo, František (referee)
The bachelor thesis consists of two chapters in which it describes the global financial crisis in connection with theory of division of economy into financial and real sector, and studies possible channels that could transmit problems between them. While analyzing the changes that have occurred in the last period and which contributed to larger spillover of the problems, a fact of developing extensive financial sector emerges. There are many cases of countries that have been extremely dependent on it, therefore little diversified, which could cause high volatility of consumption, GDP etc., since these indicators mirror movements of financial markets. These facts are related to the origin of offshore financial centers, which are also discussed in the thesis. Moreover, there is examined an issue of growth in banks´ assets and excessive providing of credit that leads to larger indebtedness of households. Rise of household debt has been still continuing even after the end of crisis, and is usually connected not only with financial deepening in emerging economies, but also with negative impact on future economic growth. Liabilities of financial institutions consist of high amount of wholesale funds, which resulted in growth of liquidity and systemic risk.
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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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Tax havens and tax evasions in Europe
Forejtková, Jana ; Žák, Květoslav (advisor) ; Spirit, Michal (referee)
This bachelor thesis is focused on the definition of tax evasion and more character in the context of tax havens within the European continent. Its goal is to monitor the consistency of these two phenomena. The first part deals with general tax havens, and analyze the specificities of European tax havens and the influence of the EU. In the second part attention is paid to tax evasion, with a focus on international tax evasion, which are realized by a low-taxing country. Here is said division of tax evasion , methods and methods of their measurement. The final part discusses international organizations fight against tax havens as tax evasion agents, the history of this struggle, and prospects for the future.
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