Taxes and Accounting 1

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Learning outcomes of the course unit:

The course aim is to introduce students with the basics of the tax system in the Czech Republic and in detail to present students with retirement taxes, that is, personal and corporate income tax. Students are introduced to the basics of accounting (double and single ledger) and basic of tax documentation from the perspective of the personal and corporate income tax structure

Mode of study:

Theory through lecture. Theory presentation linked to discussions of practice examples created for students.

Prerequisites and co-requisites:

Complete high-school education. No other additional knowledge is required for registration.

Course contents:

1/ Tax system (2 lectures)

- Arrangement tax and accounting law into the Czech Republic legal system

- Presentation of individual taxes and Czech Republic tax mix

- Basic tax terminology - tax, tax subject, tax object, tax base, etc.

- Significance of tax in national economy

2/ Accounting basics (1 lecture)

- Definition of account units, simple and two ledger accounting, basic accounting

- Fundamental introduction to account closing

3/ Direct tax (total 10 lectures)

- Personal and corporate income tax (6 lectures)

- Presentation of individual parts of tax basics

- Dependent activity income (employment)

- Entrepreneur tax - tax documentation, lump sum tax payment, accounting basics

- Completion of Tax declaration forms

- Corporate tax income (4 lectures)

- tax base establishment

- accounting.

Recommended or required reading:

-Regulation No#. 586/1992 Sb., Income tax, latest version,

-Regulation No#. 563/1991 Sb., Accounting, latest version

-Regulation No#. 235/2004 Sb., VAT, latest version

- Other literature assigned in lecture

- State budget, state account closing - online

Assessment methods and criteria:

Participation in lectures (20%)

On-going tests during the semester (40%)

Oral exam in theory and practice examples (40%)

Course web page:

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Further information:

No schedule has been prepared for this course

The subject is a part of the following study plans:

• Production - Bachelor-1718 (required subject)
• Production - Bachelor-1718-3y (required subject)