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Issues of transactions with securities and financial derivates
Tejnský, Radko ; Bakeš, Milan (advisor) ; Karfíková, Marie (referee)
1 Resume Název: Problematika operací s cennými papíry a finančními deriváty Title: The issues of operations with securities and financial derivatives The aim of this thesis is to discuss selected issues of operations with securities (such as stocks, bonds, promissory notes, etc.) and financial derivatives. A financial derivative (or derivative security) is a financial instrument whose value depends on the values of other, more basic underlying variables. Commonly issued and frequently traded financial derivatives are forward contracts, futures, swaps, and options. Futures and options are actively traded on many exchanges. Forward contracts, swaps, and many different types of options are regularly traded outside exchanges by financial institutions, fund managers, and corporations in what is termed over-the-counter market. This study is divided into seven chapters. The first chapter provides brief introduction into the issues of operations with securities and financial derivatives. The following chapter provides legal definitions of various types of securities and its legal sources. The third chapter discusses the economic aspects of issuing financial derivatives as well as their legal provisions. The fourth chapter is subdivided into four subchapters. First two subchapters deal with the aspects of issuing...
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Czech National Bank, its activities and the supervisory role Czech National Bank as a member of the European System of Central Banks
Daňková, Kristýna ; Bakeš, Milan (advisor) ; Vondráčková, Pavlína (referee)
106 6. Závěr 6.1. Principy u SVJ a jejich členů Při zpracovávání této diplomové práce jsem dospěla k závěru, že celý systém od prvotního zaúčtování, respektive zaevidování případu SVJ až po zdanění určitého na jednotlivé vlastníky alokovaného příjmu sníženého o výdaj na dosažení zajištění a udržení tohoto příjmu, stojí na několika základních principech, které jsou specifické pro problematiku SVJ a jejich členů a pokusila bych se je zobecnit a formulovat. Nejdůležitější je samotná vazba mezi účetní (popřípadě jinou) evidencí SVJ a z ní vyplývající informací pro vlastníka jednotky. Platí dva základní principy: a) jestliže příjem není příjmem SVJ → takový příjem se alokuje na jednotlivé vlastníky jednotek → výdaj související s takovým příjem se alokuje na jednotlivé vlastníky jednotek Slovní spojení - příjem není příjmem SVJ - znamená, že SVJ není vlastníkem finančních prostředků představující tento příjem a z pohledu SVJ se jedná pouze o průtokovou položku nebo o závazek vůči jednotlivým vlastníkům jednotek. b) jestliže výdaj není výdajem SVJ → takový výdaj se alokuje na jednotlivé vlastníky jednotek → příjem související s takovým výdajem se alokuje na jednotlivé vlastníky jednotek Slovní spojení - výdaj není výdajem SVJ - představuje situaci, že SVJ nakládá s finančními prostředky, jejichž není vlastníkem,...
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Systems of taxation in some Member States of the European Union - comparision
Balvínová, Helena ; Bakeš, Milan (advisor) ; Vondráčková, Pavlína (referee)
Systems of taxation in some Member States of the European Union - comparision Summary The aim of my thesis is to analyse systems of taxation in some Member States of the European Union and to compare them. It is focused on direct taxes: individual and corporate taxation. The thesis is composed of six chapters. Chapter One is an introduction to the theme. Chapter Two defines basic terminology used in this thesis: tax, fee, social security contributions and duty. It also deals with system of taxation and flat tax. Chapter Three examines relevant legislation of the European Union. Part One focuses on sources of law. Part Two deals with basic definitions such as harmonisation, coordination and tax competition. Part Three investigates indirect taxes. Part Four addresses the issue of direct taxes. Two judgements of The European Court of Justice are mentioned. Last part concerns tax administration. Chapter Four is subdivided into six parts. Part One describes system of taxation in the France, Part Two in the Germany, Part Three in the United Kingdom, Part Four in the Ireland and Part Five in the Slovak Republic. Each part mentions individuals income tax, corporate income tax and social security contributions. Part Six compares systems of taxation, shows similarities and differences between systems of taxation in...
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The tax system and agreements on the avoidance of double taxation
Halfar, Jan ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
RESUME This thesis deals with taxation analysis in general and with the Czech taxation system specifically, with the respect to the Czech Republic's membership in the EU and the connected legal regulations harmonization. In the end the thesis is focused on the international taxation rules and the related particular treaties on the avoidance of double taxation. In the beginning of the first part, which is more theoretical, a brief characteristic of basic terms like a tax, a taxation system, a division of taxes, direct and indirect, is contained. Then an analysis of its structural components, that means subject, object, tax exemption, tax rate, tax base and taxation period, is included. Functions of taxation - the allocation one, the redistributional, the stabilizational one and the main function of taxation, the fiscal one. And last but not least it deals with taxation principles - equity, efficiency, beneficial effect on the development of economic processes, legal perfection and political transparency, which forms the basis for a stable, uncomplicated taxation system. The conclusion of the theoretical part is dedicated to the tax harmonization, to the list and a brief description of the most important European legal standards and their short analysis. In the part dedicated to the Czech taxation system the...
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Income tax in the context of hamonization of direct taxes in the European Union
Zajíčková, Miroslava ; Bakeš, Milan (advisor) ; Novotný, Petr (referee) ; Karfík, Zdeněk (referee)
- 1 - Abstract The issue of income tax is a topic that is current, whatever the political organization of the country, because it is a fact significantly affecting the political, economic and social conditions, from many different aspects. Individual load, as well as corporate income taxes is one of the key elements that most impact on people and affect their economic behavior, social and political decision-making standard. Income tax in the tax systems is one of the most important taxes, because it is burdening the income of individuals and legal entities, tax payers. Through a greater or lower tax burden on personal and corporate income it is possible to use the legislation in the area of income tax and its setting, in the period of economic stagnation, as an instrument for economic recovery. In the area of tax systems and tax systems of specific countries in the last decade we recorded a relatively significant development. The shift, consisting mainly in the approximation of national tax laws, is in our legal system particularly evident after the enter of Czech Republic to the European Union in 2004. In connection with the gradual expansion of the European Economic Community, of the customs union, common market between Member States and European Union development into as we know it today, with 27 Member...
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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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Personal income tax in the Czech Republic and in some European Union states
Klabusayová, Hana ; Bakeš, Milan (advisor) ; Novotný, Petr (referee)
The topic of the rigorosum thesis is "Personal income tax in the Czech Republic and in some European Union states." The aim of the thesis was to analyze the legal regulation of individual taxation in the Czech Republic, compare it to the individual taxation in some European Union states, and to suggest recommendations and proposals to the legal regulation of the personal income tax in the Czech Republic de lege ferenda. The rigorosum thesis is alongside the introduction and conclusion composed of six chapters. The theoretical framework of the rigorosum thesis is defined in the first chapter, which is focused on the tax theory. In the second chapter, the legal regulation of direct taxes in the European Union is included. Legal basis of the individual taxation in the Czech Republic is outlined in the third chapter, and the Czech legislation is analyzed in the fourth chapter. For the purpose of the thesis, legal regulations of individual taxation in Germany, United Kingdom, France, and Austria have been chosen. The foreign legal regulations are analyzed in the fifth chapter. In the sixth chapter, results of the previous chapters are summarized and compared, and possible changes and recommendations to the legal regulation of the individual taxation in the Czech Republic de lege ferenda are suggested.
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