Template-Type: ReDIF-Article 1.0
Author-Name: Jiří Rajl
Title: The Impact of Regulatory Measures on the Development of Household Indebtedness
Abstract: The purpose of this contribution is to evaluate the regulatory measures of the Czech central bank within the context of financial consumer protection aimed at slowing down the growth of the mortgage market by introducing new recommendations to restrict LTV limits and other indicators. Households are taking advantage of the availability of mortgage loans in an environment of economic growth and low unemployment. However, the growth in real estate prices raises fears of an increase in systemic risk caused by the developing gap between the growth of household indebtedness and the growth in real estate prices. The paper recapitulates the main factors of the growth rate of household indebtedness and the extent to which the adopted recommendations are effective.
Keywords: Regulation of the credit market, Household debt, Credit bureau, Mortgage loan, Financial consumer protection, Creditworthiness
Classification-JEL: E44, E58, G21
Pages: 05-24
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=220.pdf
File-URL: http://www.vse.cz/efaj/220
File-Format: text/html
Handle: RePEc:prg:jnlefa:v:2019:y:2019:i:1:id:220:p:05-24
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/220

Template-Type: ReDIF-Article 1.0
Author-Name: Jerzy Gierusz
Author-Name: Katarzyna Kolesnik
Author-Name: Sylwia Silska Gembka
Title: The Interpretation of “in Context” Verbal Probability Expressions Used in International Financial Reporting Standards - Evidence from Poland
Abstract: The objective of this paper is to specify in which way Polish accounting professionals manage to interpret “in context” verbal probability expressions (VPEs) from IFRS. Taking into account the Polish accounting professionals attachment to the prudence principle and the Polish mindset, we research here whether they have a conservative approach when interpreting those expressions. For the purpose of our study we distributed a questionnaire and asked a sample of accountants and auditors from Poland to interpret the term “probable” used in IFRS to establish the threshold for recognition of various accounting elements. Our findings provide evidence that the differences in interpretation of “in context” VPEs by Polish accounting professionals exist. We also find that the level of conservatism shared by Polish accountants and auditors affects their individual accounting judgment.
Keywords: IFRS, Financial reporting, Interpretation, Professional judgment, Verbal probability expressions
Classification-JEL: M41
Pages: 025-046
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=221.pdf
File-URL: http://www.vse.cz/efaj/221
File-Format: text/html
Handle: RePEc:prg:jnlefa:v:2019:y:2019:i:1:id:221:p:025-046
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/221

Template-Type: ReDIF-Article 1.0
Author-Name: Petr DAVID
Title: Can the Czech Road Tax be considered a Tax on Externalities?
Abstract: The transport sector is one of the important components of economic systems. Besides positive effects, it is also a source of external costs transferred to other entities. Through the evaluation of current settings of the tax base and parameters of the road tax rate progressivity it was ascertained that this tax fails to directly or indirectly reflect the external costs of transport. It is through a relatively simple adjustment of the existing road tax rates that indirect reflection of certain items of the road transport external costs may be achieved. Firstly, changes must be made in the definition of the road tax base so as to contain emissions or other parameters of externalities; subsequently, the direct reflection of the road transport external costs in the tax may be achieved.
Keywords: Czech Republic, Road tax, Externality, Tax rate
Classification-JEL: H21, H23
Pages: 47-64
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=222.pdf
File-URL: http://www.vse.cz/efaj/222
File-Format: text/html
Handle: RePEc:prg:jnlefa:v:2019:y:2019:i:1:id:222:p:47-64
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/222

Template-Type: ReDIF-Article 1.0
Author-Name: Eliška Čejková
Author-Name: Hana Zídková
Title: The Impact of Specific Reverse Charge on Waste and Scrap on Tax Revenues in the Czech Republic
Abstract: The paper is focused on VAT evasion and especially carousel frauds. It describes the types of VAT evasion, methods of its estimation and measures taken by the European member state to fight it. The aim of the article is to develop a reasonable method for assessing the volume of carousel fraud in the Czech Republic. It uses ex-post calculation of the impact of a specific reverse-charge implemented in the Czech Republic on waste and scrap in 2011. The analysis employs trade balance data of the Czech Republic published by the Czech Statistical Office and a model of the carousel fraud to estimate the size of the carousel fraud existing prior to the implementation of the specific reverse charge in the CR. The volume of the supposed carousels in waste and scrap present in the period from 1 April 2010 to 31 March 2011 in the CR is according to the authors EUR 56 mil. (approx. CZK 1.4 bn.).
Keywords: VAT evasion, Carousel fraud, Specific reverse charge
Classification-JEL: H26
Pages: 65-83
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=223.pdf
File-URL: http://www.vse.cz/efaj/223
File-Format: text/html
Handle: RePEc:prg:jnlefa:v:2019:y:2019:i:1:id:223:p:65-83
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/223