The Adoption of International Financial Reporting Standards in the Czech Republic and Its Impact on Corporate Taxation

Mejzlík, Ladislav; Arltová, Markéta; Procházka, David; Vítek, Leoš

doi:10.18267/j.polek.1036

Cited by 8 publications

(5 citation statements)

References 32 publications

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“…Implicit effective tax rate is calculated as a ratio of applicable taxes to the subject of taxation and is used to measure the effectiveness of taxation of labour, capital, consumption, and energy (Mejzlík et al, 2014). Effective marginal tax rate is used for considering a marginal increase in the use of production factors (Barrios et al, 2014).…”

Section: Literature Reviewmentioning

confidence: 99%

“…This indicator is also discussed regarding the implementation of IFRS as far as the corporate income tax has to be calculated only according to the tax legislation, not IFRS, in many states. The researchers agree that using IFRS for tax purposes is a "win-win-win" situation that reduce costs, attract investors and makes the tax control procedures easier not only for taxpayers, but for the tax administration as well (Mejzlík et al, 2015). According to (Schön, 2004), most characteristics of IFRS are consistent with the objectives of corporate taxation which makes these standards a good starting point for the possible common European income taxation.…”

Section: Literature Reviewmentioning

confidence: 99%

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Factors Affecting Effective Corporate Income Tax Rate of the Czech and Russian "Blue Chips" in 2012 - 2015

Purina¹

2017

EFAJ

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Abstract:Nowadays, influence of international business groups on the individual countries' economic systems is still growing. Effective tax rate showing a real level of the tax burden is one of the most important parameters of each economy. This article analyses the factors affecting the effective corporate income tax rate of the "blue chips" in the Czech Republic and in the Russian Federation. The factors are divided into two groups: external and internal ones. The hypothesis states that the internal factors (assets, debt ratio and equity) are more correlated with the dependent variable than the external ones (Paying Taxes index and average oil price). The regression analysis, particularly, panel data model with fixed effects, was used to estimate influence of the independent variables on the effective tax rate separately in Russia and Czech Republic. The research demonstrated that the mentioned internal factors are more significant for the Russian companies that the external factors. In the case of the Czech Republic, the same result was obtained with lower confidence level.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Factors Affecting Effective Corporate Income Tax Rate of the Czech and Russian "Blue Chips" in 2012 - 2015

Purina¹

2017

EFAJ

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“…Whereas in the calculation of the profit or loss the entities may rely on the accounting procedures specified in IFRS, during the transformation of the accounting profit into the tax base there is a need to remove affect from IFRS, which for accounting entities in the Czech Republic means keeping dual accountingone according to the national legislation and if their shares are publicly traded also according to IFRS (Mejzlik et al, 2015).…”

Section: Research Studies and International Financial Reporting Standmentioning

confidence: 99%

Financial Statement according to National or International Financial Reporting Standards? A Decision Analysis Case Study from the Czech Republic at Industrial Companies

Krajňák

2020

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Financial statements bring information about financial position, performance and changes in financial performance. These statements could be prepared in accordance with national accounting standards or in accordance with International Financial Reporting Standards. The scientific problem is to assess whether it is more beneficial to prepare financial statements according to national, transnational or both national and transnational accounting standards. Results show that it is more convenient to prepare financial statements only according to the legislation of national accounting standards. The advantage of this option is lower costs. However, the second best option, based on preparing financial statements according to International Financial Reporting standards, leads to higher quality, credibility and comparison of these statements. Options based on the gradual convergence of transnational and national accounting standards also do not represent an ideal situation. The utility of options is influenced by many criteria. The most important criterion according to the questionnaire survey is costs. The questionnaire survey was carried out in the year 2018 among 28 industrial companies in the selected region of the Czech Republic. The methods of description, analysis, synthesis, comparison and selected methods of multi-criteria decision-making are used in the article.

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“…Three articles have a Romanian origin (N. Albu and Albu, 2012;Istrate et al, 2015). Finally, seven studies address several issues of interest from the point of view of Czech accounting academia (Svoboda, 2007(Svoboda, , 2008(Svoboda, , 2011Malikova and Brabec, 2012;Šimberová and Kocmanová, 2013;Honkova, 2015;Mejzlik et al, 2015). There is no country study published by the WoS journals for Poland.…”

Section: Analysis Proceduresmentioning

confidence: 99%

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

Procházka

2017

Annals of the Alexandru Ioan Cuza University - Economics

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The paper reviews recent literature on the specifics of adoption of International Financial Reporting Standards (IFRS) by the new EU members from the Central and Eastern Europe. Despite being members of the EU or OECD, the transition to a standard developed economy has not yet finished. The first part of the paper presents macroeconomic statistics and capital market data, which underline a unique economic structure of the region (relative unimportance of capital markets for raising capital, strong dependence on foreign direct investments) combined with the lacks in institutional environment. Under such conditions, the economic consequences of IFRS adoption can be unpredictable and adverse. The second part of the paper analyses the reflection of specifics of the IFRS adoption in the CEE region in research studies covered by the Thomson Reuters' Web of Science database. The analysis reveals (a) cross-country disproportion in the research coverage of the area; (b) relatively low coverage of the IFRS research focusing on these transition countries in top journals.

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The Adoption of International Financial Reporting Standards in the Czech Republic and Its Impact on Corporate Taxation

Cited by 8 publications

References 32 publications

Factors Affecting Effective Corporate Income Tax Rate of the Czech and Russian "Blue Chips" in 2012 - 2015

Factors Affecting Effective Corporate Income Tax Rate of the Czech and Russian "Blue Chips" in 2012 - 2015

Financial Statement according to National or International Financial Reporting Standards? A Decision Analysis Case Study from the Czech Republic at Industrial Companies

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

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