The flow of foreign direct investment (FDI) into a country can benefit both the investing entity (the home country) and the host country. The determinants of FDI are a highly discussed topic, with various determinants being analysed and discussed over time.  Multiple research papers focus on the determinants of the host country, which try to identify the most important factors that make countries attractive to investment from abroad. This paper aims to shed light on the home country determinants and their relationship with investments into the Republic of Ireland. Using panel data analysis for 28 different countries around the world from the years 2012 to 2019, this paper aims to find relationships between different home country related variables and FDI flows into the Republic of Ireland. We find evidence that FDI is positively associated with the market size of the home country, the corporate tax rate difference between the home and the host country and sharing an official language. On the other hand, population and distance were found to be negatively associated with FDI. Based on the results of our analysis, a discussion of the home country determinants and their impact on FDI into Ireland is presented.

Este estudo investiga se o planejamento tributário efetuado pelas companhias abertas é uma prática de gestão que gera valor para o acionista. Embora se possa conjeturar que o aumento de lucros proporcionado pela economia de tributos contribua para elevar o valor da firma, uma avaliação incompleta de todos os custos do planejamento tributário possibilita o surgimento de quadros em que os custos superam os benefícios, reduzindo o retorno para os acionistas e afetando negativamente o valor da firma. Estudos desta questão efetuados em outros países apresentaram resultados variados. Para a verificação empírica, utilizou-se de análise de dados em painel, realizada sobre uma amostra de 1.432 observações do tipo empresa-ano, composta por 310 companhias abertas negociadas em bolsa nos anos de 2007 a 2012. O valor da firma foi estimado pelo Q de Tobin e o planejamento tributário por duas métricas distintas, alternadamente: Book-Tax Differences, controlada por accruals, e total de tributos distribuídos na DVA, ambas padronizadas pelo ativo. Visando obter resultados robustos, a amostra foi estratificada em função da agressividade histórica das firmas quanto ao planejamento tributário. Os resultados mostram que existe uma relação negativa entre planejamento tributário e valor da firma no estrato das firmas mais agressivas, não tendo havido convergência de evidências no estrato das firmas menos agressivas. Em função das peculiaridades do mercado de capitais brasileiro, foram analisados também os efeitos da governança corporativa, da gestão familiar e da concentração acionária sobre a relação estudada. Os resultados mostram que estes fatores não conseguem conter a diminuição de valor ocorrida no estrato das firmas agressivas. A contribuição desta pesquisa para a literatura consiste na demonstração dos efeitos que os custos de agência exercem sobre as avaliações dos investidores no mercado de capitais e na evidenciação da relação negativa entre planejamento tributário e valor da firma, detectada no conjunto das firmas agressivas, o que pode orientar a conduta dos investidores, analistas de mercado e gestores. / This study investigates whether tax planning activities conducted by publicly traded firms represent a management practice that creates shareholder value. While one might say, at first, that the increase in profits provided by the tax savings contributes to raise the value of the firm, an incomplete assessment of all the costs of tax planning facilitates the emergence of scenarios in which the costs outweigh the benefits, reducing the return to shareholders and adversely affecting the firm value. Studies of this issue in other countries found mixed evidence. For the empirical verification, analysis of panel data was conducted on a sample of 1,432 firm-year observations, composed of 310 publicly traded firms in years 2007 to 2012. Firm value was estimated by Tobin\'s Q and tax planning was proxied by two distinct metrics, alternately: Book-Tax Differences, controlled by total accruals, and total taxes distributed in Value Added Statement, both scaled by total assets. In order to obtain more robust results, the sample was stratified according to historical aggressiveness of the firms\' tax planning. The results show that there is a negative relationship between tax planning and firm value in the stratum of the most aggressive firms. Evidence didn\'t converge for the stratum of less aggressive firms. Due to the peculiarities of the Brazilian capital markets, the effects of corporate governance, ownership concentration and family management over the investigated relationship were also analyzed. The results show that these factors can not contain the value destruction that occurs in the stratum of the aggressive firms. The contribution of this research to the literature consists in demonstrating the effects that agency costs have on firm evaluations made by investors in the Brazilian capital markets and the disclosure of the negative relationship between tax planning and firm value found in the group of the aggressive firms, which can guide the behavior of investors, market analysts and managers.

Tématem této diplomové práce je aplikace Lafferovy křivky na daň z příjmů právnických osob v České republice. Trendem vrcholícím v posledních letech je snižování sazeb daně z příjmů korporací. Velice často se v této souvislostí mluví o fenoménu daňové konkurence. V souvislosti s očekávanými přínosy snižování daňových sazeb se práce snaží nalézt odpověď na otázku, jaký vliv má výše daňových sazeb na daňový výběr. Pro účely této analýzy je v práci vytvořen regresní model na základě časové řady dat o DPPO v ČR. Tento model umožní odhadnout daňový základ, který je použit k výpočtu daňového výnosu a konstrukci Lafferovy křivky. Na základě výsledků aplikace křivky na časovou řadu od roku 1997 se práce věnuje posouzení vhodnosti Lafferovy křivky jako nástroje k vysvětlení vývoje korporátních daňových příjmů v ČR. Následně je porovnáno daňové zatížení korporací v ČR se zatížením v ostatních státech EU, které rovněž sledují trend daňové konkurence. Analýza daňové zátěže korporací v rámci EU umožní vyvodit implikace pro oblast veřejných financí a růstový potenciál ekonomiky.

This paper examines the effect of Business Tax to Value-Added Tax Reform (B2V Reform) of 2016 on the tax burden and research and development activities of High and New Technology Enterprises (HNTEs) in China. The initial hypothesis is that the B2V reform decreases tax burdens and encourages R&D activities of HNTEs. After analyzing the data from the Shanghai Stock Exchange High and New Technology Enterprise Index, however, it is found that the Reform does not significantly affect either the tax burdens or the R&D activities. Subsequent research reveals several explanations for the discrepancy, including firms’ labor-heavy capital structures for which labor costs do not qualify for value-added tax deductions as well as the issue of unused tax deductions from fixed asset purchases. This study informs policy makers how to revise and improve the reform to benefit high-tech companies with labor-intensive capital structures and others with significant upfront investment costs.

Este estudo investiga se o planejamento tributário efetuado pelas companhias abertas é uma prática de gestão que gera valor para o acionista. Embora se possa conjeturar que o aumento de lucros proporcionado pela economia de tributos contribua para elevar o valor da firma, uma avaliação incompleta de todos os custos do planejamento tributário possibilita o surgimento de quadros em que os custos superam os benefícios, reduzindo o retorno para os acionistas e afetando negativamente o valor da firma. Estudos desta questão efetuados em outros países apresentaram resultados variados. Para a verificação empírica, utilizou-se de análise de dados em painel, realizada sobre uma amostra de 1.432 observações do tipo empresa-ano, composta por 310 companhias abertas negociadas em bolsa nos anos de 2007 a 2012. O valor da firma foi estimado pelo Q de Tobin e o planejamento tributário por duas métricas distintas, alternadamente: Book-Tax Differences, controlada por accruals, e total de tributos distribuídos na DVA, ambas padronizadas pelo ativo. Visando obter resultados robustos, a amostra foi estratificada em função da agressividade histórica das firmas quanto ao planejamento tributário. Os resultados mostram que existe uma relação negativa entre planejamento tributário e valor da firma no estrato das firmas mais agressivas, não tendo havido convergência de evidências no estrato das firmas menos agressivas. Em função das peculiaridades do mercado de capitais brasileiro, foram analisados também os efeitos da governança corporativa, da gestão familiar e da concentração acionária sobre a relação estudada. Os resultados mostram que estes fatores não conseguem conter a diminuição de valor ocorrida no estrato das firmas agressivas. A contribuição desta pesquisa para a literatura consiste na demonstração dos efeitos que os custos de agência exercem sobre as avaliações dos investidores no mercado de capitais e na evidenciação da relação negativa entre planejamento tributário e valor da firma, detectada no conjunto das firmas agressivas, o que pode orientar a conduta dos investidores, analistas de mercado e gestores. / This study investigates whether tax planning activities conducted by publicly traded firms represent a management practice that creates shareholder value. While one might say, at first, that the increase in profits provided by the tax savings contributes to raise the value of the firm, an incomplete assessment of all the costs of tax planning facilitates the emergence of scenarios in which the costs outweigh the benefits, reducing the return to shareholders and adversely affecting the firm value. Studies of this issue in other countries found mixed evidence. For the empirical verification, analysis of panel data was conducted on a sample of 1,432 firm-year observations, composed of 310 publicly traded firms in years 2007 to 2012. Firm value was estimated by Tobin\'s Q and tax planning was proxied by two distinct metrics, alternately: Book-Tax Differences, controlled by total accruals, and total taxes distributed in Value Added Statement, both scaled by total assets. In order to obtain more robust results, the sample was stratified according to historical aggressiveness of the firms\' tax planning. The results show that there is a negative relationship between tax planning and firm value in the stratum of the most aggressive firms. Evidence didn\'t converge for the stratum of less aggressive firms. Due to the peculiarities of the Brazilian capital markets, the effects of corporate governance, ownership concentration and family management over the investigated relationship were also analyzed. The results show that these factors can not contain the value destruction that occurs in the stratum of the aggressive firms. The contribution of this research to the literature consists in demonstrating the effects that agency costs have on firm evaluations made by investors in the Brazilian capital markets and the disclosure of the negative relationship between tax planning and firm value found in the group of the aggressive firms, which can guide the behavior of investors, market analysts and managers.

The main aim of thesis is to analyse the development of the collection of tax on corporate income in the Czech Republic between years 2006 and 2014. The partial aim of my work is to analyse the evolution of use of deductions and tax reliefs in the Czech Republic for the mentioned period. The theoretical part of my work will focus on the description of the corporate income tax, description of deduction, and description of deductions which Czech legislation allows. In Chapter 1.4 is description of tax relief. Practical part of my work contains an analysis how dependent tax revenues from corporate income tax rate, gross value added or gross domestic product. In Chapter 2.2 is tested if gross added value or gross domestic product affects the application of deductions, which are divided into different groups - in sum, type of legal form or NACE. In Chapter 2.3 is a similar analysis for tax relief.

There are many recent studies which try to find the evidence of the Laffer curve in national economies or aggregated OECD data. In this Master Thesis I focus on testing of the primary linear relation of the corporate income tax rate and the corporate tax base, that I call herein adjusted Laffer curve. The adjusted Laffer curve is then transferred through the simplification into the ordinary Laffer curve. The linear regression analysis is performed on the OECD data of 34 countries across years 2000 to 2014. Firstly, the countries are split by the national tax system criteria, such as tax quota, tax revenue allocation or tax structure of revenues that I consider essential for further analysis. Based on the results of linear regression I can only find Laffer curve in set of countries that aim to collect tax revenues mainly from direct taxes. However, there are also other major findings, such as the fact that negative relation of the corporate income tax rate and the corporate tax base, can be found in countries with the higher tax quota, while not in those with the lower tax quota.

This work analyse the current discussions and theoretical approaches to personal and corporate taxation (not only in OECD countries). After the introduction, which is focused on theory of income taxation, follows chapters, that analyze the attitudes and issues of personal and corporate taxation. This two main chapters contain synthetic parts, whose outputs are the emerging trends in the future. The emphasis was put on OECD outcomes and recommendations.

This diploma thesis deals with tax evasion of necessary consolidation of public finance in current period. The main goal of this thesis is analyze corporate tax evasion. This thesis is created by using literature, legislation and case law. For the estimate we have used the concept of tax gap, which is based on comparison of theoretical tax liability of the economy with the actual tax receipts.

The thesis is focused on corporate income taxation, namely limited liability company. There is a comparison of the corporate tax between the Czech Republic and Germany in order to define the procedure for calculating the tax liability for both countries. For the purpose of the thesis, a Czech limited liability company is selected for which the tax liability is calculated and proposals for the future are drawn up.