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1

FINANCIAL TRANSACTION TAX: THE BREXIT – AN OPPORTUNITY OR THREAT?

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Solilová V., Nerudová D., Litzman M.
Ekonomický časopis (Journal of Economics)
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2019
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vol. 67
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issue 3
223 – 244
EN
The European Union faces the biggest change in her history – Brexit. The United Kingdom is leaving the EU and therefore its integrated capital market. Never before in the history of the EU has a member state left the club, therefore the reactions of the internal market, economies of the rest EU member states, and financial markets are unpredictable. Since 2012, the Coalition of the willing would like to implement the financial transaction tax (FTT) but currently they pause before the question of how the Brexit will change the potential FTT revenues of the Coalition of the willing. Based on the research we can conclude that the Brexit will have a negative or positive impact on the potential FTT revenues with dependence on a relocation of financial markets outside of United Kingdom. Moreover, the FTT can be considered as a sustainability-oriented tax-based own resources for a reform of the EU budget.
2

APPLICATION OF THE CCCTB AND SAFE HARBOURS TO EUROPEAN SMES: CAN THE DECREASE IN COMPLIANCE COSTS SUPPORT BETTER SME PERFORMANCE?

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Solilová V., Nerudová D., Litzman M.
Ekonomický časopis (Journal of Economics)
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2019
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vol. 67
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issue 6
587 – 606
EN
Small and medium-sized enterprises (SMEs) are facing internal markets with higher taxation and transfer price compliance costs as well as cross-border loss compensation problems. With respect to the taxation (transfer pricing) compliance costs that are borne by SMEs, the possible solutions for decreasing those costs were suggested to be safe harbours and common (consolidated) corporate tax bases. This paper includes an evaluation of the suggested approaches and their impacts on the SMEs’ economic performance. In addition, this evaluation accounts for the selected economic variables that are classified by industry and firm size, assuming decreased compliance costs of taxation and the fulfilment of the long-term goals of the EU2020 agenda, such as smart and inclusive growth in the EU. Based on the results, it can be concluded that safe harbours and the CCCTB system are able to improve SMEs’ performance. The most important economic variables supporting the increase in business performance are current assets, value added, enterprise value and, finally, operating revenues. In researched countries, the highest impact on the business performance would result from the created added value.
3

IS THERE A REAL CHANCE TO ADOPT THE CCCTB WITHOUT UK PARTICIPATION IN THE EU?

100%
Nerudová D., Solilová V., Litzman M.
Ekonomický časopis (Journal of Economics)
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2021
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vol. 69
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issue 6
582 – 603
EN
The European Commission re-launched its proposal on the Common Consolidated Corporate Tax Base (CCCTB) in Europe in October 2016. The CCCTB aims to help ensure a fair and efficient corporate tax system in the European Union as a tool to fight tax evasion and tax fraud. Moreover, the CCCTB could be intended to be used as a new resource for the EU budget, as the EU budget requires reassessment after Brexit. Although the outcome of the Brexit process was uncertain for a long time, the UK left the EU on 31 January 2020. The objective of this paper is to research the impact of the introduction of the CCCTB on the EU’s economic environment in the post-Brexit period. The research reveals that the overall tax base under the CCCTB in the post-Brexit period would decline by 5.34% in comparison with the current tax base. Through a dynamic approach, we find that the CCCTB could increase the tax base by between 3.33% and 22.42%, depending on the behavioural effects induced by the implementation of the proposal.
4

REAL EFFECT OF THE CZECH TAX POLICY FOR COMBATING THE TOBACCO EPIDEMIC

100%
David P., Litzman M., Rozmahel P.
Ekonomický časopis (Journal of Economics)
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2022
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vol. 70
|
issue 7-8
589 – 602
EN
Similar to other developed countries, the Czech Republic implements socioeconomic policies aimed at minimizing smoking. The objective of this research is to provide evidence of the real impact of increasing cigarette taxes on cigarette consumption and its structure in the Czech Republic. The unique database consisting of manufacturers’ subscribed cigarette stamps and all posted brand prices were collected by the authors over the past two decades and was utilized in the analysis. The analysis shows that a continuous rise in cigarette market prices does not motivate consumers to prefer low price brands or to reduce cigarette consumption. The research provides evidence that smokers did not minimize smoking but even spent more money on cigarettes, preferring more expensive brands or staying loyal to a favoured one. This implies necessary changes in the market basket of the smokers’ households.
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