SubjectsSubjects(version: 845)
Course, academic year 2018/2019
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Financial Law - HASO1
Title in English: Financial Law
Guaranteed by: Department of International Relations (22-ZO)
Faculty: Faculty of Law
Actual: from 2013
Semester: winter
Points: 0
E-Credits: 3
Examination process: winter s.:
Hours per week, examination: winter s.:1/0 Ex [hours/week]
State of the course: taught
Language: English
Teaching methods: full-time
Note: course can be enrolled in outside the study plan
enabled for web enrollment
Guarantor: JUDr. Petr Kotáb, Ph.D.
doc. JUDr. Radim Boháč, Ph.D.
doc. JUDr. Michael Kohajda, Ph.D.
Teacher(s): doc. JUDr. Radim Boháč, Ph.D.
doc. JUDr. Michael Kohajda, Ph.D.
JUDr. Petr Kotáb, Ph.D.
Last update: Mgr. Lukáš Krejčík (21.11.2013)
The purpose of the course is to provide rather brief and general and yet
professionally oriented introduction to Czech Financial Law with occasional
overlaps to the Financial Science. Special emphasis is given to those areas of
Financial Law that are connected to the stay, activities, business and investments
of foreigners in the Czech Republic.
Last update: Mgr. Lukáš Krejčík (21.11.2013)

Outline of the Course

1. General Introduction
Finance and money • Financial activity • Financial Law in the system of Czech Law • Financial organs • Ministry of Finance • Czech National Bank • Fiscal (tax) authorities • Customs authorities

2. Monetary Law
Tangible and intangible money • Issuance of money • Issuing authority • Legal tender • Forced circulation of money and connected rules • Payment intercourse • Payment systems • Czech crown and the euro

3. Foreign Exchange Control and Anti-Money Laundering Regulations
Foreign exchange regulations. Convertibility • Residents and non-residents • Foreign exchange values • Obligations and restrictions • Acquisition of real estate • Anti-money laundering legislation • Suspicious transactions • Reporting obligation • Identification of participants • Suspension of transaction

4. Czech Tax System
System of taxes and other budgetary revenues • Classification of taxes • Direct and indirect taxes • Basic elements of tax construction • Subject, object, tax base, tax rate and maturity

5. Income Taxes
Individual Income Tax • Corporate Income Tax • Taxpayers and payors • Computation of tax base • Partial tax bases • Tax residents and non-residents • Tax-deductible expenses and other tax-deductible items • Tax rates • Tax credits • Administration of Income Taxes

6. Value Added Tax
Universal indirect taxes • VAT concept • Taxable persons and VAT payor registration • Taxable supply • Principles of VAT • Output and input VAT • Tax point • Tax rates • Administration of VAT • VAT exemptions

7. Other Taxes
Property taxes • Real estate tax • Road tax • Transfer taxes • Inheritance Tax • Gift Tax • Real-Estate Transfer Tax • Excise taxes • Energy taxes • Customs

8. Banking Law
Central banking, commercial banking and investment banking • Types of banks and credit institutions • Criteria of bank authorization • Rules of prudent banking business • Capital adequacy • Credit and other asset engagement • Deposit insurance • Bank secrecy

9. Financial Market
Definition of financial market • Division of financial market • Capital and money market • Investment services • Investment instruments • Classification of participants of capital market • Collective investment


Reading List

1) Presentation outlines for individual lectures - will be distributed electronically at the end of the course

2) RADVAN, Michal: Czech Tax Law, 3rd edition, MUNI Press - Masaryk University, Brno, 2010
3) KOTÁB, Petr, VOŽEHOVÁ, Lucie, ŠAFKA, Jiří: Czech Republic, In: Financial Services Regulation in Europe (General Editor: Etay Katz), Second Edition, Oxford University Press, Oxford 2008, pp. 151-167
4) KOTÁB, Petr, BERNARD, Radovan: Czech Republic, In: the International Comparative Legal Guide to: Corporate Tax 2010, Global Legal Group Ltd., London 2010, pp. 56-61 Also available for free download on the Internet at:

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