Business Taxes

Syllabus

Thematic definition of lectures: 1. Tax system of the Slovak Republic - characteristics and classification of taxes - current tax system of the Slovak Republic - direct and indirect taxes - fundamental changes and their ongoing evaluation - Lex Korona - selected emergency measures to mitigate the consequences of a coronavirus pandemic in the field of taxation 2. Taxation of personal income - basic characteristics and starting points of taxation - taxpayers (residents and non-residents) - subject to taxation - exemption from tax - tax rate - characteristics of taxable income (groups of taxable income and different methods of tax collection) 3. Taxation of personal income from dependent activity - types of taxable income - the taxable amount of income from dependent activity and functional benefits - the non-taxable part of the taxable amount per taxpayer and the tax bonus per child - obligations of taxpayers (employees) and obligations of employers in taxation - collection of personal income tax from dependent activity and annual settlement of tax advances 4. Taxation of income of natural persons - entrepreneurs - taxation of income from business and other self-employed activity, from rent and from the use of work and artistic performance - taxation of personal income in various organizational and legal forms of business - taxation of income from capital assets and taxation of other income - exempt income - the non-taxable part of the tax base and the calculation of the tax base and tax - payment of tax advances - filling in the personal income tax return - type B 5. Taxation of corporate income - subject of taxation (residents and non-residents) - subject of taxation - calculation of tax base, amortization of tax loss - tax rate - payment of tax advances - taxation of business entities in various forms of business - taxation of the non-profit sector - taxation on the liquidation of a business entity 6. Tax and non-tax expenses - the application of tax expenditures in the calculation of the income tax base business entities (natural persons and legal entities) - ineligible tax expenses and costs in calculating the tax base - characteristics of selected tax expenditures (for example, tax depreciation of tangible and intangible assets, leasing, reserves and provisions and others, travel expenses, etc.) - changes in tax legislation from 1 January in the given tax period 7. Specific areas in the system of income taxation of natural and legal persons - tax incentives applied to personal and corporate income tax - deduction of research and development expenditure - use of the share of tax paid for special purposes (tax allocation) and others 8. Value Added Tax (VAT) - basic characteristics of VAT and mechanism of application of VAT - basic concepts - taxable person, definition of business - the link between the value added tax system and excise duties - principles of application of VAT (principle of origin, principle of determination) - VAT in the EU internal market (intra-Community acquisition of goods, intra-Community supply of goods) - application of value added tax on the importation of goods 9. Application of value added tax in the Slovak Republic - registration for value added tax, tax period, subject of value added tax (taxable transactions) - place of taxable business and tax liability - tax base, tax rates, tax calculation - exemption from value added tax, deduction of tax, proportional deduction of tax - excessive deduction, obligations of taxable persons - the fight against tax fraud and evasion in the VAT system 10. Excise taxes of the Slovak Republic - tax on mineral oils - tax on alcoholic beverages (beer, wine and alcohol) - tax on tobacco products - tax on electricity, coal and natural gas (environmental taxes in the Slovak Republic and in the world) - fight against tax fraud and evasion 11. Insurance tax 12. Property taxes - basic economic intentions of property taxation - applied types of property taxation in the Slovak Republic, administration of property taxes - real estate tax: land tax, building tax, apartment tax - basic goals of taxation - motor vehicle tax: taxpayers, subject of the tax and tax exemption, tax base and tax rates, tax relief 13. Evaluation of the current tax system of the Slovak Republic - basic goals and intentions of the tax policy of the Slovak Republic at present - characteristics of legislative changes from 1 January in the given tax period in the Slovak Republic and their evaluation - planned changes in tax legislation from 1 January of the following tax period in the Slovak Republic Thematic definition of exercises: 1. Characteristics of the tax system from a systemic point of view, basic and additional elements of tax technology, tax system of the Slovak Republic, income tax - definition of the tax subject (resident and non-resident of the Slovak Republic), tax subject, tax base, tax rate. 2. Characteristics of income from dependent activity, tax exemption, application of non-taxable parts of the tax base, tax bonus for a child, calculation of the tax base, calculation of the monthly advance payment for tax from dependent activity, obligations of the employer and employee. 3. Examples for the calculation of non-taxable parts of the tax base - non-taxable part of the tax base for the taxpayer, non-taxable part of the tax base for the taxpayer's spouse, non-taxable part of the tax base for supplementary pension savings, etc. 4. Annual settlement of advances for tax on dependent activity, classification of income into groups of income: income from business, income from self-employment, income from rental, income from the use of work and artistic performance, income from capital assets, other income (§ 6 - § 8 of Act No. 595/2003 Coll. On Income Tax). 5. Income from business and self-employment, application of tax expenditures, calculation of tax base and tax, application of tax incentives - amortization of tax loss, application of deduction of expenditures on research and development, solution of partial examples, explanation of tax return form for personal income tax - type A and type B. 6. Complex examples for filling in the e-form - personal income tax type A and type B, calculation of advances for personal income tax, determination of factors influencing the calculation of the effective tax rate of the entrepreneur - natural person. 7. Corporate income tax, definition of the tax subject, tax and non-tax expenses, their application in the tax return, income exempt from corporate income tax, tax incentives. 8. Complex examples for filling out a corporate income tax return - a tax return for a public company, a tax return for a limited liability company. 9. Complex examples for filling in the corporate income tax return - tax return for a joint stock company, calculation of advances for corporate income tax, determination of factors influencing the calculation of the effective tax rate of an entrepreneur - legal entity. 10. Value added tax - mechanism of application of VAT, simplified case study of application of value added tax in the country, basic principles of application of value added tax in EU member states. 11. Application of value added tax in the Slovak Republic, personnel definition of entities entering the value added tax mechanism, registration obligation, taxable transactions, place of taxable trade. 12. Origin of tax liability, tax rate and other elements of tax technique of value added tax, tax exemption, tax deduction, obligations of persons liable to pay tax, solution of partial examples, credit paper. 13. Complex examples for filling in a tax return for value added tax.