FP-UzpoPAcad. year: 2020/2021
The course is focused mainly on domestic tax, and the company income taxation system. The purpose of this course is to teach the basic terminology and methods used to set the tax base rates and the tax liability of corporations. The course is also focused on common provisions within the laws on Corporate Income Tax and Natural Person Income Tax together with other legal regulations and rules associated with these laws, which are necessary for setting the tax base rates for corporations.
Learning outcomes of the course unit
Students will be made familiar with the basic terminology used in the area of Corporate Income Taxation, and they will also learn individual links to other rules and regulations which can influence the tax liability of corporations. Students will be expected to apply their knowledge to particular examples.
Students are expected to have basic knowledge of accounting, financial statements, basics of business relations according to the Commercial Code.
Recommended optional programme components
Recommended or required reading
Zákon č. 586/1992 Sb. ve znění p.p. o dani z příjmů fyzických a právnických osob (CS)
Obchodní zákoník v platném znění (CS)
Občanská zákoník v platném znění (CS)
Pokyna řady D - Finanční zpravodaj (CS)
Planned learning activities and teaching methods
The course contains lectures that explain basic principles, problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures.
Assesment methods and criteria linked to learning outcomes
The course-unit credit is conditional on the following:
1. Active attendance at seminars where student will practise various different practical methods of calculating Tax.
2. Successful completion of a credit test – and a minimum 50 % completion of given coursework.
Conditions for passing an exam: Student has to demonstrate his/her knowledge acquired in the course and apply it in practice (in particular the determination of depreciation for different types of tangible and intangible assets, technical improvements and even on leased assets, calculation of operational and financial leaing, the determination of the tax liability for different legal entities, knowledge enhancing items and reduce profit, deductions, up to date, taxable income, non-taxable and exempt, etc.).
Form of examination: Combined – written exam followed by an oral examination if necessary.
Language of instruction
A brief description of lectures:
- Introduction to Corporate taxation (defining the basic terminology and individual types of corporations and also income tax assessment in companies).
- Tax exemption and tax base (terminology, tax-deductible items, tax allowance, tax base, tax credit)
- Expenditures on achievement, on reassurance and on maintaining income; non-deductible expenses.
- Long-term tangible and intangible assets (basic terminology; depreciation; joint ownership; non-depreciable assets; assets appreciation).
- Depreciation of fixed assets (depreciation categories, classification of assets, methods of depreciation, amortization when technical improvements)
- Leasing (operative and financial leasing, basic terminology, advantages and disadvantages of leasing, conditions of leasing, requirements for contracts, termination of a contract before the maturity date).
- Special tax rate and temporary and concluding provisions (classification according income type, tax collection).
- Non-profit organizations (their specific position in terms of the income tax law, method of determining taxable income, the method of cost to determine the tax base).
- Public companies and special partnerships (comparison of companies' shares and their taxation, determination of the tax base, the application of deduction).
- Syndicates (status of participants in the association, the determination of the tax base, cutting expenditure and revenue and the evidence).
- The income tax return (brief description, way of filling according to its classification).
- The income tax return (defining the content of each tax return, practical completion).
The seminars will be focused on practising the lectured topics and elaboration of case studies (both individually and in teams).
The aim of the course is for students to master the theoretical aspects and methodology for accurate evaluation of tax liability and assessment. It is necessary for students to know the rules and regulations of the law Nr. 586/92 Sb. on Income Tax as amended. Students will learn how to apply gained knowledge to practical examples.
Specification of controlled education, way of implementation and compensation for absences
Monitoring of students’ individual work on assigned tasks. In case of an excused absence from seminars, tutors may set additional conditions or coursework if appropriate, generally elaboration of partial written exercises.