Tax policy and economic crisis

The topic of the diploma thesis is an analysis of tax policy for tackling against global economic crisis which began in 2007 as a local problem in the mortgage market of the United States of America. Globally connected world has caused the expansion of economic crisis around the world. The current crisis shows different characteristics than the major economic recessions of the past because it is a crisis of the financial markets. The financial crisis was followed by economic, social and political crisis. Advancing recession required prompt intervention of governments, regulators and central banks in all developed countries. The crisis did not avoid even the Eurozone countries. The impact of global financial crisis was not the same for European Union members because there are significant differences between these countries which are mainly given by the way of economic life affected by the state. The thesis focused on analysis of tax measures for reducing negative effects of the crisis in four selected countries of the European Community as the leading public budgets include taxes. The comparison will be made with the anti-crisis measures of the Czech Republic, Slovakia, Hungary and the Federal republic of Germany. The comparison showed that the adopted anti-crisis measures followed a similar or the same goals but in each of the countries is slightly different. Most of matches showed a reduction in income tax rates, the introduction of extraordinary depreciation, depreciation acceleration, extension of utilization of tax losses, support for research and development, transfer taxes to indirect taxes and increase tax rebates for individuals.