Content of the course builds on knowledge gained in basic financial accounting courses. In addition, it specifies the various issues of direct taxation in the Czech Republic from the perspective of entrepreneurs - both physical and legal persons. Particular attention is paid to the provisions of the Income Tax Act as the main direct tax influencing business in the Czech Republic. An integral part of the course is also analysis of other direct taxes (road, property, inheritance, gift, transfer of property), their reporting and their link to the accounting.
At the end of this course the student will be able to understand to:
- Income tax of physical and legal persons,
- Property taxes.
Theme Lecture plan:
1 Legal changes of direct taxation in the Czech Republic, tax system, the law on income tax, its structure, taxable income, income tax exemptions, taxation of income from employment, and advance withholding tax, annual tax settlement,
2 taxation of income from business and other self-employment, income distribution among the cooperating parties, tax records,
3 Tax expenses (costs), tax (accounting) depreciation, non tax expenditure (costs),
4 Taxation of income from capital assets, rent and other income, corporate income tax, differences from personal income tax
5 Acquisitions, mergers, and their tax impact, the transfer prices, the taxation of international income, double tax agreements, tax returns
6 road tax and real estate tax, the structure of law, tax returns
7 inheritance tax, gift tax and the transfer of real estate, tax returns
Theme plans and content of seminars (according to weeks of instruction):
1) Introductory seminar - the method of work in seminars, assessment of conditions,
• Analysis of regulation of income tax in the Czech Republic,
• tax exempted income - practical examples,
2) The taxation of income from employment, and advance withholding tax, the annual clearing of tax, practicing of practical examples,
• taxation of income from employment in a signed statement,
• taxation of income from employment in the unsigned statement,
• annual tax settlement
3) taxation of income from business and other self-employment, income distribution among the cooperating parties, practicing of practical examples,
• income from business,
• income from other self-employment,
• flat-rate tax
• the possibility of income distribution among the cooperating parties, the analysis of different options,
• tax records
4) Tax expenses (costs), their registration, practicing of practical examples,
• identification of tax expenditures (costs) under the Law on Income Tax,
• the possibility of evidence of such expenditure,
• lump-sum expenses
• the individual tax expenditure
5) Tax (accounting) depreciation, practicing of practical examples,
• calculation of accounting depreciation, the recognition and application of such tax costs,
• calculation of tax depreciation, the evidence
6) non tax expenditures (costs), their registration, practicing of practical examples,
• identification of non-tax expenses (costs) under the Law on Income Tax,
• following the application of these expenses in the tax base
7) The taxation of income from capital assets, rent and other income, practicing of practical examples,
• taxation of income from capital assets,
• taxation of income from rent, the scope for tax expenditure
• taxation of other income
Control test 1
8) Corporate Income Tax, differences from the personal income tax, practicing of practical examples,
• identifying differences between personal and corporate income tax,
• the corporate income tax,
• corporate tax,
• accounting for income tax
9) The acquisition, merger and tax consequences, the transfer price, practicing of practical examples,
• The tax effects of acquisitions and mergers,
• transfer prices, their use in the taxation of income
10) The taxation of international income, double tax agreements, exercise of practical examples
• Determination of the tax rezidentury,
• double tax agreements,
• techniques of international taxation
11) The return to personal and corporation income tax, practicing of practical examples,
• compilation of tax returns for personal income tax,
• compilation of tax returns for corporation income tax,
12) road tax and real estate tax, the structure of law, tax returns
• road tax, compilation of tax return
• real estate tax, the compilation of tax return
Control Test 2
13) the inheritance tax, gift tax and the transfer of real estate, tax returns
• compilation of tax returns for individual taxes
Daňové zákony - aktuálního roku
SEDLÁČEK, Jaroslav. Daňová evidence podnikatelů 2011. 8. vyd. Praha: Grada, 2011. 157 s. ISBN 9788024738024. info
PELECH, Petr and Vladimír PELC. Daně z příjmů s komentářem. 10. aktualiz. vyd. Olomouc: Anag, 2009. 967 s. ISBN 978-80-7263-542-9. info
VALOUCH, Petr. Účetní a daňové odpisy 2011 (Accounting and tax depreciation 2011). 6. vyd. Praha: GRADA Publishing, a.s., 2011. 140 pp. Účetnictví a daně. ISBN 978-80-247-3803-1. info
VALOUCH, Petr. Daňové tipy a triky pro fyzické osoby (Tax tips and tricks for physical persons). 1. vyd. Praha: GRADA Publishing, 2010. 122 pp. Účetnictví a daně. ISBN 978-80-247-3332-6. info
PELECH, Petr. Zdanění mezd, platů a ostatních příjmů ze závislé činnosti v roce 2010. 18. aktualiz. vyd. Olomouc: ANAG, 2010. 455 s. ISBN 9788072635726. info
VALOUCH, Petr. Leasing v praxi - praktický průvodce. 4. vyd. Praha: GRADA Publishing, 2009. 128 pp. Účetnictví a daně. ISBN 978-80-247-2923-7. info
1. Ongoing tests will be written during seminars in weeks according to schedule.
• If a student can not physically attend 1 of the seminar tests (teacher examines apology), the student can write the replacement test in the last week of teaching.
• Evaluation of ongoing trials (or alternative test), will coincide with the final assessment test.
2. Final evaluation of work done in seminars.
• Conditions for participation in graduation test, 2 control tests with average rating of 60% or more. These 2 tests are designed to 25 points (maximum achievable 50 points), the minimum for participation for the test is 30 points.
• Preparation for seminars. Rating the quality of preparation for seminars with 20% resulting in a mark for assessing the quality holds:
A 92 - 100%
B 84 - 91%
C 76 - 83%
D 68 - 75%
E 60 - 67%
F less than 60%
• A student who fails to seminars - ie. resulting interim assessment tests is less than 60%, will write the replacement test of the whole substance. This test is designed for 50 points, to pass the test he must achieve at least 30 points.
Examination is a written test.
• A condition of successful completion of examination test is to achieve at least 60%. This test will include 4 theoretical questions and a comprehensive treatment of accounting-tax example, with the aim of calculating the taxable amount and calculating the tax liability the business entity. The maximum achievable score is 50, the minimum for the test is 30 points.
• Weight result counts 80% of the final mark.
The final mark consists of:
examination test (80%) + the level of preparation for seminars (20%)
For the evaluation of students, the following scale is used:
A 92 - 100%
B 84 - 91%
C 76 - 83%
D 68 - 75%
E 60 - 67%
F less than 60%
Language in which the course is taught
Further comments (probably available only in Czech)
The course is taught annually.
Credit evaluation note: k = 1,0.