Course detail
Corporate taxation
FP-UzpoKAcad. year: 2018/2019
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.
Language of instruction
Czech
Number of ECTS credits
6
Mode of study
Not applicable.
Guarantor
Department
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.
Prerequisites
Students are expected to have basic knowledge of accounting, financial statements, basics of business relations according to the Commercial Code.
Co-requisites
Not applicable.
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.
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.
Course curriculum
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).
- 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).
Work placements
Not applicable.
Aims
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.
Recommended optional programme components
Not applicable.
Prerequisites and corequisites
Not applicable.
Basic literature
Občanská zákoník v platném znění
Obchodní zákoník v platném znění
Pokyna řady D - Finanční zpravodaj
Zákon č. 586/1992 Sb. ve znění p.p. o dani z příjmů fyzických a právnických osob
Obchodní zákoník v platném znění
Pokyna řady D - Finanční zpravodaj
Zákon č. 586/1992 Sb. ve znění p.p. o dani z příjmů fyzických a právnických osob
Recommended reading
Not applicable.
Classification of course in study plans
- Programme BAK-KS Bachelor's
branch BAK-UAD-KS , 2 year of study, summer semester, compulsory
Type of course unit
Guided consultation in combined form of studies
20 hod., optionally
Teacher / Lecturer
Syllabus
Basic topics covered in the course:
1. Introduction to the course "Corporate Income Tax " (definition of basic terms, individual types of legal entity and their detailed specification, definition of the incomes that are subject to tax for various legal entities)
2. Exemptions and the tax base (definition of terms, their analysis from the perspective of individual legal entities, ascertaining the tax base, items deductible from the tax base, tax relief)
3. Expenditure on achieving, securing and maintaining income, tax deductible expenses (their precise definition with specific cases)
4. Tangible and intangible assets (definition of basic terms – tangible assets, intangible assets, depreciation, assets excluded from depreciation, assets in shared ownership, partial write-offs, technical improvements)
5. Depreciation of fixed assets (depreciation groups, classification of assets, methods for their depreciation, depreciation when carrying out technical improvements)
6. Leasing (operational, financial, definition, advantages, disadvantages, leasing conditions, contract requirements, termination of contracts before the end of the agreed period)
7. Special tax rates (breakdown by individual incomes, collecting taxes), transitional and final provisions
8. Charitable taxpayers (their specific position in terms of income tax law, the method for determining income subject to tax, means for determining costs for the ascertaining of the tax base)
9. Partnerships and limited partnerships (comparing companies, the shares of partners and their taxation, ascertaining the tax base, application of deductions)
10. The company – private individual (the position of shareholders in the company, determining the tax base, division of expenses and income and their record keeping)
11. The tax return (brief description, means of completion in accordance with the division of content into individual items on the tax return, practical completion)
1. Introduction to the course "Corporate Income Tax " (definition of basic terms, individual types of legal entity and their detailed specification, definition of the incomes that are subject to tax for various legal entities)
2. Exemptions and the tax base (definition of terms, their analysis from the perspective of individual legal entities, ascertaining the tax base, items deductible from the tax base, tax relief)
3. Expenditure on achieving, securing and maintaining income, tax deductible expenses (their precise definition with specific cases)
4. Tangible and intangible assets (definition of basic terms – tangible assets, intangible assets, depreciation, assets excluded from depreciation, assets in shared ownership, partial write-offs, technical improvements)
5. Depreciation of fixed assets (depreciation groups, classification of assets, methods for their depreciation, depreciation when carrying out technical improvements)
6. Leasing (operational, financial, definition, advantages, disadvantages, leasing conditions, contract requirements, termination of contracts before the end of the agreed period)
7. Special tax rates (breakdown by individual incomes, collecting taxes), transitional and final provisions
8. Charitable taxpayers (their specific position in terms of income tax law, the method for determining income subject to tax, means for determining costs for the ascertaining of the tax base)
9. Partnerships and limited partnerships (comparing companies, the shares of partners and their taxation, ascertaining the tax base, application of deductions)
10. The company – private individual (the position of shareholders in the company, determining the tax base, division of expenses and income and their record keeping)
11. The tax return (brief description, means of completion in accordance with the division of content into individual items on the tax return, practical completion)