Template-Type: ReDIF-Article 1.0 Author-Name: Jan Hospodka Author-Name: Ondřej Buben Author-Name: Monika RANDÁKOVÁ Author-Name: Jiřina Bokšová Title: Personal Bankruptcy in the Czech Republic: Age and Gender of the Debtors and Structure of the Creditors Abstract: This paper analyses debtors who applied for debt relief in the period between 1/1/2012 and 31/12/2013. As there has already been a research related to Moravian and Silesian regions in this matter, it focuses mainly on the debtors from Bohemian regions. It is therefore an analysis of a problem which has not been thoroughly covered nor published yet. New way of declaring bankruptcy, in other words debt relief, for debtors who are unable to repay their debt has been in action since 2008. Since then the number of personal bankruptcies has been gradually rising every year. This paper constitutes only a narrow section of broader research; therefore, only certain characteristics are covered. Those are age and gender of the debtors and the structure of the creditors in all of the regions. The results and information gathered during the research are being analysed and also compared among particular regions. Keywords: Czech Republic, Bankruptcy, Debtors Classification-JEL: G33, K35, M41 Pages: 05-18 Volume: 2017 Issue: 1 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=174.pdf File-URL: http://www.vse.cz/efaj/174 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:1:id:174:p:05-18 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/174 Template-Type: ReDIF-Article 1.0 Author-Name: Jan KODERA Author-Name: Tran Van Quang Title: A Simple Open Economy Model: A Non-Linear Dynamic Approach Abstract: The objective of this article is to derive a simple dynamic macroeconomic model of an open economy to show how an economy as a dynamic system can work. The proposed model is resulted from the traditional Mundell-Fleming model. Unlike the Mundell-Fleming model, we introduce a continuous dynamic and non-linearity. Non-linearity in our model is represented by a non-linear investment function. The non-linear investment function is introduced as the propensity to invest function, which is assumed to be captured by the logistic function of production. After that, the stability of the model is analysed using Hurwitz stability theorem. The behaviour of our non-linear macroeconomic model of open economy is demonstrated on two numerical examples in which two different sets of parameters are selected to examine the dynamic of the system with emphasis on the impact of export multiplier. The presented examples show that the model is able to generate very complex dynamic. Keywords: Dynamic model, Money market dynamics, Uncovered interest rate parity, Exchange rate dynamics, Limit cycle Classification-JEL: E44 Pages: 19-34 Volume: 2017 Issue: 1 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=175.pdf File-URL: http://www.vse.cz/efaj/175 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:1:id:175:p:19-34 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/175 Template-Type: ReDIF-Article 1.0 Author-Name: Veronika Solilová Author-Name: Danuše NERUDOVÁ Author-Name: Hana Bohušová Author-Name: Patrik Svoboda Title: Compliance Costs of Transfer Pricing in Case of SMEs: Czech Case Abstract: Small and medium sized enterprises account for over 99% of all companies in Eu-ropean Union and have very important position in the EU economy in the area of growth and employment. However, they face great deal of obstacles, such as com-pliance costs of taxation, 28 different tax systems in Europe, difficult transfer pric-ing rules and so on. Further, compliance costs of taxation are regressive with regard to firm size and significantly higher in case of enterprises with foreign branch or subsidiary in comparison with enterprises which are not internationalized. Moreo-ver, compliance costs are increasing through strict and difficult transfer pricing rules among European countries. Therefore, taxes and new obligations should be carefully designed so that they can address the disproportionately high tax compli-ance burdens faced by those enterprises. Unfortunately, there does not exist a study determining compliance costs of transfer pricing issue in the literature. Therefore, the aim of paper is to determine compliance costs of transfer pricing issues in case of SMEs. The results are based on the questionnaire distributed among Czech parent companies having subsidiaries in Europe and Czech subsidiaries having a parent company in Europe. Based on the results we can conclude that costs for managing of transfer pricing requirements can reach from EUR 6,430 to 7,704 per year, time needed for this issue between 27 and 35 working days and in case of comparison with corporate tax collection it represents between 3.90 % and 12.74 %. Keywords: Small and medium sized enterprises, Transfer pricing rules, Compliance costs Classification-JEL: F23, G38, H26, M1 Pages: 35-50 Volume: 2017 Issue: 1 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=176.pdf File-URL: http://www.vse.cz/efaj/176 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:1:id:176:p:35-50 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/176 Template-Type: ReDIF-Article 1.0 Author-Name: Marina Purina Title: Factors Affecting Effective Corporate Income Tax Rate of the Czech and Russian “Blue Chips” in 2012 - 2015 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. Keywords: Regression analysis, Corporate income tax, Effective corporate income tax rate, “Blue chips” Classification-JEL: H25, M41 Pages: 51-69 Volume: 2017 Issue: 1 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=177.pdf File-URL: http://www.vse.cz/efaj/177 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:1:id:177:p:51-69 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/177