Last update: JUDr. Petr Kotáb, Ph.D. (24.10.2019)
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
Recommended
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: http://www.iclg.co.uk/khadmin/Publications/pdf/3999.pdf
