Projekt Anglicky v odborných předmětech, CZ.1.07/1.3.09/04.0002 Anglicky v odborných předmětech "Support of teaching technical subjects in English“ Tutorial: Business Academy Topic: Taxes Prepared by : Ing. Adam Skovajsa Projekt Anglicky v odborných předmětech, CZ.1.07/1.3.09/04.0002 je spolufinancován Evropským sociálním fondem a státním rozpočtem České republiky.

Optimization of tax liability Tax saving Postponement of tax CONTENT Optimization of tax liability Tax saving Postponement of tax Avoiding tax Tax evasion Questions to practise Bibliography 2.1.2019

Optimizing of tax liability In the Czech Republic there ate four types of optimization of tax liability, including: tax saving postponement of tax avoiding tax tax evasion 2.1.2019

Tax saving Is created when the taxpayer uses the possibility of reducing the tax base and the tax within all the alternative procedures determined by the tax law It can be achieved by adapting the behaviour of the subject – he or she stops smoking = will not have to pay excise tax on tobacco products 2.1.2019

Postponement of tax Is made, for example, through creation of reserves for future expenses or by accelerated depreciation of tangible assets 2.1.2019

Avoiding tax represents minimization of taxes through the legistrator‘s search of unintended loopholes in the tax law stylization does not conflict with the law, but it is immoral 2.1.2019

Tax evasion It represents an illegal deal of a taxpayer to reduce illegitimately the size of tax liability If such conduct is intentional, and it leads to reduction of budget revenues -it is a crime Tax evasions reduce expected tax revenue It is one of the factors of so called grey economy 2.1.2019

Questions to practise ? Which type of tax optimization is beyond the law? Do you think that the initiative of business entities to optimize tax liability is growing? What are the factors encountered within the grey economy? 2.1.2019

Cloze Each taxpayer is trying to pay……………… in taxes. The space for achieving tax savings is closely related to ……………… expenses. Postponement of taxes in the future can be made for example by the creation of …………………… for future expenditures. 2.1.2019

Bibliography Mužík, J. Management ve vzdělávání dospělých. Praha: EUROLEX BOHEMIA, 2000. ISBN 80-7361-269-7. Operační program Vzdělávání pro konkurenceschopnost, ESF 2007 – 2013. Dostupné na: http://www.msmt.cz/eu/provadeci-dokument-k-op-vzdelavani-pro- konkurenceschopnost Bakeš, M. a kolektiv. Finanční právo. Praha: C. H. Beck. Praha, 2009. ISBN 978-80-7400- 801-6. Vejvodová, H. Kopřiva, J. Právo I – Finanční právo. Brno: VUT v Brně: Fakulta podnikatelská, 2008. ISBN 978-80-214-3730-2. 2.1.2019

Thanks for attention 2.1.2019