Reducing the Impact of the Global COVID-19 Pandemic on Business Entities in the Czech Republic from an Accounting and Tax Perspective

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F20%3A10246156" target="_blank" >RIV/61989100:27510/20:10246156 - isvavai.cz</a>

Result on the web

<a href="https://www.shs-conferences.org/articles/shsconf/abs/2021/03/shsconf_glob20_01012/shsconf_glob20_01012.html" target="_blank" >https://www.shs-conferences.org/articles/shsconf/abs/2021/03/shsconf_glob20_01012/shsconf_glob20_01012.html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1051/shsconf/20219201012" target="_blank" >10.1051/shsconf/20219201012</a>

Result language

angličtina

Original language name

Reducing the Impact of the Global COVID-19 Pandemic on Business Entities in the Czech Republic from an Accounting and Tax Perspective

Original language description

Research background: The global pandemic declared by WHO on 11 March 2020 has had a widespread impact on the world economy, and the COVID-19 outbreak has severely affected economic life throughout the globalized world. Governments have taken various measures to support their economy and financial stability. The global restrictions on production and services, reduced demand for goods and services and this year&apos;s cash-flow problems will certainly lead to a significant decline in their profits, especially for small and medium-sized companies. The COVID-19 pandemic has undoubtedly affected most business entities in the Czech Republic. Purpose of the article: The purpose of the paper is to describe, analyse and evaluate measures of the government of the Czech Republic, which aimed at reducing the impact of the pandemic on businesses in the Czech Republic. Methods: In the paper, classical types of scientific procedures were applied using theoretical and empirical methods which include description, analysis, synthesis, induction, deduction, comparison and evaluation and so on. Findings &amp; Value added: The paper analyses the impacts of COVID-19 in the context of accounting measures from the perspective of Czech and international accounting regulations. The paper proposes a solution in the area of mandatory reactions of accounting entities to a completely unusual situation caused by the COVID-19 pandemic which should be mandatory and disclosed in the notes to the financial statements. Furthermore, the paper evaluates a set of measures in the field of taxation, wages and insurance premiums intended for business entities and their employees.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50205 - Accounting

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2020

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Globalization and its Socio-economic Consequences: 20th international scientific conference : 21st – 22nd October 2020, Rajecke Teplice, Slovak Republic

ISBN

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ISSN

2261-2424

e-ISSN

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Number of pages

10

Pages from-to

1-10

Publisher name

EDP Sciences

Place of publication

Les Ulis

Event location

Rajecké Teplice

Event date

Oct 21, 2020

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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