Transition from tax records to double-entry bookkeeping in the Czech Republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F16%3A50002914" target="_blank" >RIV/62690094:18450/16:50002914 - isvavai.cz</a>

Result on the web

<a href="http://dx.doi.org/10.1007/978-3-319-22596-8_5" target="_blank" >http://dx.doi.org/10.1007/978-3-319-22596-8_5</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1007/978-3-319-22596-8_5" target="_blank" >10.1007/978-3-319-22596-8_5</a>

Result language

angličtina

Original language name

Transition from tax records to double-entry bookkeeping in the Czech Republic

Original language description

The aim of this paper is to describe the process of transition from tax records to double-entry bookkeeping in the Czech Republic. The transfer of tax records on double-entry bookkeeping is not a simple matter for physical person and it is not so often used in the Czech Republic. It is expected that it will change. The prerequisite is a change in legislation which have occurred since January 1, 2014. Specifically, the new Law No. 90/2012 Coll. on commercial companies and cooperatives (Law on commercial corporations), which replaced the Act No. 513/1991 Coll. Commercial Code. One of the major changes is the reduction of the share capital of a limited liability company from CZK 200,000 to CZK 1. This change may be the reason for the change of legal form for many physical persons. The transition is by physical person done optional or mandatory. Mostly is the transition done mandatory due crossing sales. The physical person must convert tax records into double-entry bookkeeping in case of change of the status from the physical person on the legal entity. In the article there are described other options when we go to. In the next part there are described the steps that are necessary to do in the transition. The transition affects not only accounting but also taxes. At the end of the article there are the graphs that present the situation in record keeping in the Czech Republic, in Hradec Králové and Pardubice region. A detailed research together with the analysis and critical assessment of accessible materials will enable to identify the main objectives in the field of study. The analysis of the initial state will consequently enable to identify the key factors and knowledge. Primarily and secondary sources were used within the framework of the selected topic.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

—

OECD FORD branch

50206 - Finance

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2016

Confidentiality

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

Article name in the collection

Business challenges in the changing economic landscape. Vol. 1

ISBN

978-3-319-22596-8

ISSN

—

e-ISSN

neuvedeno

Number of pages

12

Pages from-to

59-70

Publisher name

Springer

Place of publication

Berlin

Event location

Barcelona

Event date

Oct 23, 2014

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000416839900005