Vliv daní na příliv přímých zahraničních investic

The main aim of the dissertation is to quantification and analysis of the impact of tax variables on inflow of foreign direct investments (FDI) in given economy. Part of the dissertation was to verify which model is the most suitable for analysis of available data, because it should work in the same way as investors’ decisions – the investor chooses the country and afterwards choose the amount of investment. Because of this, Heckman 2-step model was used.. For the analysis were used data for period 2005-2017 mainly from OECD data sets. For this period are available data in country-by country version and also with information in which way the investment was done For larger complexity of the topic, calculations were made 2 types of models – wide and narrow – they differs in number of variables used. Firstly, results confirm that the choice of Heckman 2-step model was right. The results for impact of (tax) variables are in some cases not in line with expectation. GDP has positive impact on decision on location and also in decision about amount of FDI. The impact of corporate income tax rate of the country reporting inflow of FDI is positive – this is against results of previous studies. This might be explained by the fact that previous studies did not analyze high number of variables and the corporate income tax rate covered also impact of other variables. Impact of personal income tax rate is in line with expectation and it might be better variable for influencing of investors’ decision. Also tax wedge is variable with important impact on investors’ decision, but for both countries the impact is negative. Another important variable is interest rate with negative impact. However, this negative impact was not observed in models with FDI in form of debt. To minimize fiscal impacts, countries might increase VAT rates which increase has not so important impact on investors.