Dissertations / Theses on the topic 'Taxa spot'

Dissertação (mestrado)—Universidade de Brasília, Faculdade de Economia, Administração, Contabilidade e Gestão Pública, Programa de Pós-Graduação em Administração, 2016.
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O presente estudo realizou a previsão da taxa spot de 15 pares de câmbio mediante a aplicação de um algoritmo de aprendizado de máquinas – Support Vector Regression – com base em um modelo fundamentalista composto por 13 variáveis explicativas. Para a estimação das previsões, foram consideradas 9 funções Kernel extraídas da literatura científica, totalizando assim 135 modelos verificados. As previsões foram comparadas com o benchmark Random Walke avaliadas em relação à taxa de acerto direcional do câmbio e às métricas de erro RMSE (raiz quadrada do erro quadrático médio) e MAE (erro absoluto médio). A significância estatística do incremento de poder explicativo dos modelos SVR em relação ao Random Walk foi verificada mediante a aplicação do Reality Check Test de White (2000). Os resultados mostram que os modelos SVR obtiveram desempenho preditivo satisfatório em relação ao benchmark, com vários dos modelos propostos apresentando forte significância estatística de superioridade preditiva.Por outro lado, observou-se que várias funções Kernel comumente utilizadas na literatura científica não lograram êxito em superar o Random Walk, apontando para uma possível lacuna no estado da arte de aprendizado de máquinas aplicada à previsão de taxas de câmbio. Por fim, discutiu-se acerca das implicações dos resultados obtidos para o desenvolvimento futuro da agenda de pesquisa correlata.
This paper aims to forecast the spot exchange rate of 15 currency pairs by applying a machinelearning algorithm – Support Vector Regression – based on a fundamentalist model composedof 13 explanatory variables. The predictions’ estimation were obtained by applying 9different Kernel functions extracted from the scientific literature, resulting in a total of 135 modelsverified. The predictions were compared to the Random Walk benchmark and evaluated for directionalaccuracy rate of exchange pradictions and error performance indices RMSE (root meansquare error) and MAE (mean absolute error). The statistical significance of the explanatorypower gain via SVR models with respect to the Random Walk was checked by applying White(2000)’s Reality Check Test. The results show that SVR models achieved satisfactory predictiveperformance relative to the benchmark, with several of the proposed models showing strong statisticalsignificance of predictive superiority. Furthermore, the results showed that mainstreamKernel functions commonly used in the scientific literature failed to outperform the RandomWalk,indicating a possible gap in the state of art of machine learning methods applications to exchangerates forecasting. Finally, the paper presents a discussion about the implications of the obtainedresults for the future development of related research agendas.

Este estudo apresenta uma tentativa para investigação do efeito que a sensibilidade à taxa de deformação do material poderia provocar no modo de falha do ponto de solda. É sabido que alguns materiais quando deformados dinamicamente sofrem elevação na sua resistência mecânica, e portanto este aumento poderia afetar o comportamento, ou seja, o modo de falha da junta. Os modos de falha esperados neste estudo são o de cisalhamento do ponto na interface ou o arrancamento do ponto na região da zona termicamente afetada. Uma formulação analítica para as tensões atuantes devido à solicitação dinâmica no ponto foi proposta com base em estudos existente para juntas solicitadas estaticamente. Propôs-se uma forma de quantificar a taxa de deformação, que foi incorporada à formulação da tensão dinâmica atuante na região da junta. Em conjunto à formulação analítica, um modelo de elementos finitos foi desenvolvido e diversas condições de carregamento e geometrias foram analisadas e posteriormente comparadas com os resultados analíticos. Como resultado principal verificou-se que, para a estimativa adotada para a taxa de deformação de material, o modo de falha da junta não se altera quando comparado com o modo de falha presente na junta solicitada a carregamento estático. E que para as formulações estimadas e modelos investigados a falha teria uma tendência a ocorrer na região da zona termicamente afetada para qualquer dos casos de carregamento analisados.
This study presents an attempt to probe the effect that some materials strain rate sensitivity could set in the failure mode of the spot weld joint. It is well known that some materials when dynamically loaded and deformed have its mechanical strength increased and therefore this strength increase could affect the joint failure behavior. The failure modes taken in account in this study are the shear of the spot weld in the interface region and the pull-out of the spot weld in the heat affected zone. An analytical formulation to the acting stress in the spot weld region owing to the dynamic loading has been proposed based on studies performed to the statically loaded spot weld joint. Moreover, an analytical formulation has been proposed to quantify the strain rate, and it has been incorporated in the dynamic stress formulation. A finite element model has been also built. Several geometrical configurations of this model have been analyzed under several velocity loading conditions, and their results have been compared with the analytical considerations. As the main result, it has been verified, to the estimated strain rate formulation, the failure mode in the dynamic loading condition has not effectively changed in comparison with the statically loaded joint failure. And according to the formulation considered and the finite elements models results the failure would tend to happen in the heat affected zone to any of the loading cases taken in account in this study.

Bacterial spot disease of stone fruits, caused by Xanthomonas arboricola pv. pruni, is of high economic importance in the major stone-fruit-producing areas worldwide. Disease control is mainly based on preventive measures, such as quarantine regulation, breeding for resistance or preventive copper spray applications, since no effective chemical control is available. Therefore, a better understanding of disease epidemiology can be valuable in developing disease management strategies. This thesis was aimed at developing a mechanistic forecasting system for bacterial spot disease of stone fruits, which is based on three components: i) epiphytic inoculum potential, ii) weather conditions conducive to infections, and iii) disease symptom appearance. The effects of environmental parameters and inoculum populations on different steps of the disease cycle were quantified and modeled. The results contributed with new knowledge on the epidemiology of bacterial spot disease of stone fruits and offer new possibilities in its management
La taca bacteriana dels fruiters de pinyol, causada per Xanthomonas arboricola pv. pruni, té un gran impacte econòmic a les principals zones productores de tot el món. El control de la malaltia es basa principalment en mesures preventives, com ara una regulació de quarantena, la selecció de varietats d’hostes resistents o aplicacions preventives de coure, ja que no es disposa de cap mètode de control químic curatiu i efectiu. Per tant, l’estudi de l'epidemiologia de la malaltia pot ser un factor valuós en el desenvolupament d'estratègies per al seu maneig. L’objectiu d’aquesta tesi va ser el desenvolupament d'un sistema de predicció del desenvolupament de la taca bacteriana dels fruiters de pinyol, el qual es basa en tres components: i) el potencial d'inòcul epífit, ii) les condicions meteorològiques favorables en el procés d’infecció, i iii) l’aparició dels símptomes de la malaltia. Els efectes dels paràmetres ambientals i del potencial d'inòcul es van quantificar i modelar en diferents processos clau del cicle de la malaltia. Els resultats obtinguts aporten nous coneixements sobre l'epidemiologia de la taca bacteriana dels fruiters de pinyol que ofereixen noves possibilitats en el seu maneig

The thesis deals with the accounting and tax legislation with focus on professional sport not only from the perspective of sport clubs but also of individual sportsmen. The aim of the thesis is to identify accounting and tax specificities of professional sport, including the definition of differences in keeping accounts of non-profit organisations and business entities, and to analyse the current state of the income taxation of professional sportsmen in selected countries of the EU and in the Czech Republic. Significant differences were found not only in the keeping accounts of non-profit organisations and business entities but also in the area of the income taxation of professional sportsmen. In the Czech Republic professional sportsmen are considered to be an independent profession while in the other selected countries of the European Union they are classic employees. The thesis is based on legislation valid on 1st January 2016.

My dissertation analyses financial resources and funds of the Italfashion Ltd. company in years 2003 - 2006 on the basis of selected methods of financial analysis. If designs possible investment variations which should lead to the improvement of ways of financing particular investment projects in future.

This thesis analyses problems of old age pension scheme in the Czech republic from view of the employees of company INOTECH ČR, spol. s r. o.. It contains the proposal of solving to create reserves for old age pension scheme by using products offered in Czech republic like life insurance and pension aditional insurance.

La fiscalité des clubs et des sportifs professionnels. Quelles que soient les disciplines qu'elles promeuvent, les associations amateurs sont garantes des valeurs véhiculées par le sport. Elles sont à l'origine de toutes créations de sociétés sportives. L'aléa sportif peut conduire un club à reprendre la forme associative suite à des événements sportifs ou financiers (relégation sportive suite à de mauvais résultats, contrôle financier de la DNCG...). L'influence de la fiscalité des clubs et des sportifs professionnels joue un rôle prépondérant dans la compétitivité sportive des clubs français avec leurs voisins européens. En effet, les clubs prennent en charge le salaire de leurs joueurs et leur proposent un salaire net d'impôt. Depuis l'arrêt Bosman rendu en 1995, l'activité footballistique est une activité « ouverte » soumise aux règles européennes de liberté de circulation. Toutefois, une régulation doit être recherchée afin de préserver la spécificité du modèle sportif. Des solutions sont préconisées par les organisateurs de compétitions telles que la FIFA ou l'UEFA. Les sociétés sportives doivent coexister avec les plus grands clubs sportifs européens mais elles doivent aussi maintenir un lien de solidarité financier et sportif avec les associations sportives. Outre les différentes catégories d'impositions auquel le sportif est assujetti, nous aborderons la prise en compte par le législateur des problématiques de fin de carrière du professionnel. Malgré les dispositifs fiscaux existants, ces derniers mettent en œuvre des stratégies fiscales de sorte à maximiser leurs revenus
Taxation of athletes and professionals clubs. Whatever disciplines they promote, amateur associations are guarantors of the values conveyed through sport. They are the origin of all creations of sports clubs and sports hazard can lead a club to take the associative form due to financial or sporting events (sports relegation due to poor results, financial control DNCG...). The impact of taxation clubs and professional athletes plays a major role in the competitiveness of French sports clubs with their European neighbours. Indeed, the clubs support the wages of their players and offer net of tax salary. In addition, since the Bosman ruling in 1995, the football business is an "open" and sports activity exceptions are to be considered to preserve the French football. The organizers of competitions such as FIFA or UEFA recommend solutions. Sports companies must coexist with the largest European sports clubs but they must also maintain a link financial and sporting solidarity with sports associations.In addition to the different types of taxation that the athlete is subject we will discuss the consideration by the legislature of the problems of retirement professional. Despite existing tax arrangements, athletes are implementing tax strategies in order to maximize their income

This paper estimates the zero coupon yield curve for the Peruvian government bond market. We employ two methods of estimation proposed by Nelson y Siegel (1987) and Svensson (1994). Model performance is evaluated based on criteria of goodness of fit, flexibility and parameter stability, by using alternative objective functions for parameter estimation. The Svensson model shows on average a better adjustment; however, parameter estimates are more unstable when data availability is limited —for example when there is a small number of transactions in the secondary market— in which case is better to use the Nelson y Siegel estimates. At the end of the paper, yield curve estimates are used to derive market expectations of future short term interest rates, that are valuable sources of information for central bank’s monetary policy.
En el presente documento se estiman dos modelos para la curva de rendimiento en soles para el Perú, el modelo de Nelson y Siegel (1987) y el modelo de Svensson (1994). Se compara el desempeño de ambos modelos en términos de ajuste, flexibilidad y estabilidad de sus parámetros, y se evalúan funciones objetivo de estimación alternativas. El modelo de Svensson tiene el mejor ajuste, sin embargo, es más inestable cuando no se dispone de datos suficientes para los diferentes plazos de la curva de rendimiento —por la ausencia de emisiones o de precios cuando la negociación en el mercado secundario es incipiente— en cuyo caso es preferible el uso del modelo de Nelson y Siegel. En la parte final se muestra el uso de las curvas de rendimiento cupón cero estimadas como fuente de información de los bancos centrales sobre las expectativas del mercado para la evolución futura de la tasa interbancaria.

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Aquaculture studies seem to be basically based on environmental and economic terms in isolation, not considering the interaction of these factors, and rarely taking into account the social costs and benefits involved in the activity, so the objective of this research was to evaluate sustainability economic, environmental and social aspects in the creation of Litopenaeus vannamei shrimp in different management strategies and storage densities. For this purpose, densities of 92 (M1), 14 (M2) and 8 (M3) shrimp.m-2 and with maximum culture time of 79 days. The sedimentation rates, with the exception of total inorganic carbon-TIC and total organic carbon-TOC, were significantly higher in M3 when compared to M1 and M2, in the first collection period, probably influenced by management in the first stage (greenhouse), a tendency of decrease was verified for most of nutrient sedimentation rates for the end of the cycle, and may be associated with the bacterial community that may have aided in the reduction of these compounds. Survival was reduced in all treatments, probably influenced by white spot disease and high water salinity of farms raising the apparent feed conversion factor-FCAA in M1 and M2. The internal rates of return for M2 and M3 were attractive, generating a positive net profit and a positive balance and were able to guarantee the return on invested capital. However, this return on capital only occurred due to the high prices practiced in 2016. The cultivation with high initial population (M1) caused economic and zootechnical losses due to the high FCAAs, reduced individual biomass and the high total operational costs - making this treatment unfeasible. In the social evaluation, an income distribution of the negative order for M1 was verified due to the high costs of production, thus creating losses for this treatment. M2 and M3 presented a reduced income distribution, with a labor compensation of R $ 0.70 and R $ 1.06, respectively, representing 48 and 32% of production costs (COT). The greater distance from the economic dimension to the M1 treatment may be associated with the high RB and COT results. The treatments M2 and M3 were those that presented positive IRR, demonstrating the economic viability, probably due to the high prices per kilo of shrimp practiced during this period. Sustainability was committed by the generation of solid waste, since much of the particulate matter produced in shrimp farms is formed by a collective action of chemicals, fertilizers, excrement, undigested food, unwanted organisms and debris. It is worth noting that the white spot negatively affected the economic and social sustainability of all treatments. M1 was the most favorable environmental treatment with a social tendency. We can conclude that the monoculture of shrimp when carried out with high initial populations can not guarantee the return of invested capital. M2 and M3 were only economically viable due to the high prices paid per kilo of shrimp, but with low employment and income generation, not being socially fair and with greater impact on the environment
Os estudos em aquicultura parecem se pautar basicamente em termos ambientais e econômicos de forma isolada, não considerando a interação destes fatores, e raramente levando em considerações os custos e benefícios sociais envolvidos na atividade, desta forma o objetivo desta pesquisa foi avaliar a sustentabilidade econômica, ambiental e social na criação do camarão marinho Litopenaeus vannamei em diferentes estratégias de manejo e densidades de estocagem. Para tanto foram utilizadas densidades de 92 (M1), 14 (M2) e 8 (M3) cam.m-2 e com tempo máximo de cultivo de 79 dias. As taxas de sedimentação, com exceção do carbono inorgânico total-CIT e carbono orgânico total-COT, foram significativamente superiores em M3 quando comparado a M1 e M2 no primeiro período de coleta, provavelmente influenciadas pelo manejo na primeira fase (estufa). Foi verificado uma tendência de decréscimo para a maioria das taxas de sedimentação de nutrientes para o final do ciclo, podendo estar associada a comunidade bacteriana que pode ter auxiliado na redução desses compostos. As sobrevivências foram reduzidas em todos os tratamentos, provavelmente influenciadas pela doença da mancha branca e a elevada salinidade da água dos viveiros de criação elevando o FCAA em M1 e M2. As taxas internas de retorno para M2 e M3 foram atrativas, gerando lucro e saldo positivo para o valor presente líquido e conseguiram garantir o retorno do capital investido. Esse retorno do capital, no entanto, somente ocorreu devido aos preços elevados praticados em 2016. O cultivo com população inicial elevada (M1), ocasionou prejuízos econômicos e zootécnicos devido aos elevados FCAAs, biomassa individual reduzida e aos elevados custos totais operacionais-CTO, tornando inviável esse tratamento. Na avaliação social foi verificada uma distribuição de renda da ordem negativa para M1 em função dos elevados custos de produção, configurando prejuízos para esse tratamento. M2 e M3 apresentaram distribuição de renda reduzida, sendo a remuneração da mão de obra de R$ 0,70 e R$ 1,06 respectivamente, representando 48 e 32% dos custos de produção (CTO). O maior distanciamento da dimensão econômica para o tratamento M1 pode estar associado aos resultados elevados com RB e CTO. Os tratamentos M2 e M3 foram os que apresentaram TIR positiva, demonstrando a viabilidade econômica, provavelmente em função dos preços elevados por quilo de camarão praticados nesse período. A sustentabilidade foi comprometida pela geração de resíduos sólidos, visto que grande parte do material particulado produzido em viveiros de camarão é formada por uma ação coletiva de produtos químicos, fertilizantes, excrementos, alimentos não digeridos, organismos indesejados e detritos. Vale salientar ainda que, a mancha branca comprometeu negativamente a sustentabilidade econômica e social de todos os tratamentos. M1 foi o tratamento mais favorável ambiental com tendência para o social. Podemos concluir que o monocultivo de camarão quando realizado com elevadas populações inicias não consegue garantir o retorno do capital investido. M2 e M3 só foram viáveis economicamente em função dos preços elevados pagos por quilo de camarão, porém com reduzida geração de emprego e renda, não sendo socialmente justo e com maior impacto ao meio ambiente
2017-12-22

L'analyse concurrentielle du marché pertinent du football professionnel européen fait ressortir le saisissant contraste présent entre la force de l'exigence d'une concurrence "libre" et "non faussée" et la relativité de son existence sur le marché. Depuis l'arrêt "Bosman" et la reconnaissance par la Cour de justice de la liberté de circulation des sportifs professionnels, l'économie concurrentielle du marché en cause est inégalitaire et le sort de la compétition économique prévisible. En supprimant les clauses de nationalité, qui limitaient les flux transnationaux de joueurs et l'impact de l'hétérogénéité des systèmes fiscaux sur le processus concurrentiel, les juges de Luxembourg ont structurellement remis en cause les conditions de concurrence du marché. En effet, les clubs au "coin socio-fiscal du travail" élevé ont vu leur liberté concurrentielle être affectée et leur chance de réussir, dans la compétition économique, considérablement se réduire. Leur incapacité fiscale à proposer, à coût égal, des rémunérations attractives et compétitives aux facteurs de concurrence que sont les joueurs, s'est traduite, dans le contexte de la libéralisation du marché, par un "état d'infériorité structurelle". Cette situation immédiatement contraire aux objectifs des Traités a engendré une allocation inefficace des richesses du marché et une qualité disparate de l'offre de spectacle sportif au sein de la Communauté
The competitive analysis of the relevant market of the European professional football highlights the striking contrast between the strength of the requirement of a “free” and “undistorted” competition and the relativity of its existence on the market.Since the “Bosman” decision and the recognition by the European Court of Justice of the freedom of movement for professional sportsmen, the competitive economy of the relevant market is non-egalitarian and the result of economic competition is predictable. By suppressing the nationality clauses which limited the transnational flows of the players and the impact of heterogeneity of tax systems on the competitive process, the judges of Luxembourg structurally altered the competitive conditions into the market. Indeed, football clubs at “the wedge between labour costs and net wages” saw their competitive freedom being affected and their chance to succeed in the economic competition considerably reduced. Their tax incapacity to propose, at equal cost, attractive and competitive payments to the competition factors that are the players, has translated, in the context of the liberalization of the market, by a “structural inferiority state”. This situation at once went against the objectives of the Treaties causing an inefficient allowance of the wealth in the market, as well as an ill-assorted quality of the sport entertainment offer within the Common Market

O objetivos deste estudo foi avaliar a influência da radiação ionizante na vitalidade do tecido pulpar mensurada através dos níveis de saturação de oxigênio (%SpO2) em pacientes com tumores malígnos intraoral ou de orofaringe, passado de 4-6 anos da radioterapia (RT). Noventa pacientes com tumores malígnos intraoral ou de orofaringe, submetidos de 4-6 anos anteriores a RT foram selecionados para este estudo. Os níveis de oxigenação e sensibilidade pulpar, avaliados através do oxímetro de pulso e do spray refrigerante TFE (tetrafluoretano), foram analisados nos dentes anteriores (superior e inferior) de cada paciente selecionado (n=693),, indiferente do quadrante e da área irradiada. Como grupo controle foram selecionados noventa pacientes saudáveis (nunca submetidos a RT) e os mesmos testes foram empregados (n=693). Todos os dentes foram considerados vitais. 100% mostraram resposta positva ao teste térmico e as médias de %SpO2 foram de 92.7% no grupo dos pacientes irradiados (SD ± 1.83) e 92.6% no grupo dos não-irradiados (SD ± 1.80), sem diferença estatística observada. Houve uma tendência de valores de %SpO2 menores em dentes caninos comparados aos incisivos, entretanto sem diferença estatística significante. Passados de 4-6 anos da RT, as %SpO2 da polpa dental estão dentro dos padrões considerados normais para uma polpa vital e podese assumir que a RT não têm influência danosa a longo prazo sobre a vitalidade do tecido pulpar, assim sugerindo que este tecido pode ser apto a retornar o fluxo sanguíneo normal após a RT. As mudanças observadas na microcirculação pulpar devido a RT parecem ser temporárias, então o tratamento endodôntico preventivo ou a extração dental em pacientes que receberam radiação ionizante são desnecessários.
The aim of this study was to evaluate the influence of radioation on pulp vitality through the measurement of pulpal oxigenation levels (%SpO2) in patients with malignant intraoral and oropharyngeal tumors at 4-6 years after radiotherapy (RT). Ninety patients with malignant tumors in the oral cavity or oropharynx, submitted to RT 4-6 years prior to the study were selected. Pulp oxygenation levels and pulp sensitivity, measured by pulse oximetry and by cold refrigerant spray TFE (tetrafluoroethane), were analyzed in the anterior teeth (upper and lower) of each patient selected (n=693), regardless of the quadrant and the irradiated area. As a control group were selected ninety healthy patients (never submitted to RT) and the same tests were performed (n=693). All teeth were considered vital. 100% showed a positive response to the thermal test and the %SpO2 rates were 92.7% in irradiated group (SD ± 1.83) and 92.6% in non-irradiated group (SD ± 1.80), without statistical difference. There was a trend for lower %SpO2 values in canine teeth compared to incisors, however it was not statistically significant. After 4-6 years of RT the dental pulp %SpO2 are within the normal range considered for a vital pulp and it can be assumed that RT did not have a long term influence on the pulp vitality, therefore suggesting that the pulp tissue may be able to recover normal blood flow after RT. The changes observed in the pulp microcirculation due to RT seems to be temporary, so preventive endodontic treatment or tooth extraction in patients who will receive RT may not be necessary.

This thesis deals with problems of non-profit organizations of sport having a form of civil associations. The thesis outlines a support of sport in the acquis communautaire and legislation of the Czech Republic and predicates possibilities of the financial sources of the civil associations applied in the sport. At the conclusion, the thesis is given to an accounting and tax specifications of sports clubs.

Trabalho de projeto do mestrado em Economia (Economia Financeira), apresentado à Faculdade de Economia da Universidade de Coimbra.
Neste trabalho, as taxas forward foram utilizadas para prever os valores futuros da Estrutura de Prazo das Taxas de Juro, em diferentes pontos desta estrutura, e em diferentes contextos do sistema financeiro, e abrange o período que vai do final de 2004 ao final de 2014. As taxas spot e forward foram construidas a partir do modelo de Nelson, Siegel e Svensson (1994), e para a anlisar a relação existente entre estes dois tipos de taxas, recorreu-se o método de cointegração proposto por Johansen (1988, 1991). Para períodos mais curtos, foram construídas taxas forward instantâneas, que antecipam as taxas spot instantâneas a distâncias que vão de 1 a 10 dias. Para períodos mais longos, foram construídas taxas forward com prazo de 1 mês, que antecipam as taxas spot com o mesmo prazo, a distâncias que vão de 1 a 12 meses. Nas taxas instantâneas, verificou-se que existe cointegração entre todas as taxas forward e as taxas spot que antecipam, nas estimações que abrangem a totalidade da amostra, e para alguns casos quando se divide a amostra em sub-períodos. Nas taxas mensais, pelo contrário, apenas em alguns casos foi constatada a existência de cointegração, quer para a totalidade do período quer para os sub-períodos. De seguida, foi estimado o Modelo de Correção dos Erros proposto por Johansen (1988, 1991), e recorreu-se à analise da função impulso-resposta, para as taxas cointegradas. As taxas mensais apresentaram sempre um comportamento mais instável, quando comparadas com as taxas instantâneas. Entretanto, com a divisão do período, as taxas instantâneas apresentaram um comportamento instável, principalmente para o sub-período 2012-2014.

Taxation of profesional sportmen's income Abstract The main objective of this thesis was to design its taxation of the income of professional athletes from the sports activities, especifically in the position of tax residents of the Czech Republic. At the same time, I wanted to point out the inconsistencies that arise between the theoretical and practical solutions to this problém, all in wake of the case-law of the judicial domestic instances and the Court of Justice of the European Union. In this analysis was used the basic division of professional athletes - the athletes in the individual sports and athletes in the collective sports. This work is, together with an introduction and the conclusion, divided into six chapters. The first chapter is devoted to the development of sport as a means of meeting the needs and its importance for the society. The second chapter, in its first part, is about the position of the athlete as a subjekt od legal relations. The following are general passages relating to the income tax of individuals and groups of incomes, of which is the income collected. Furthermore, is mentioned the importance of the expenditure of the taxation of the income of professional athletes and the possibility of their application in the tax return. The third chapter deals with the status of...

The thesis deals with the issue of legal status of professional sportsmen performing collective sports and professional referees active in collective sports from the perspective of personal income tax. This issue is now vividly discussed in relation with a recent judgment of the Supreme Administrative Court from 17th July 2017, case no. 6 Afs 278/2016. The objective of this thesis is to analyse the potential status of a professional sportsman and a referee and subsequently, depending on this status, analyse opportunities of taxation of their incomes according to the relevant national legislation and the Supreme Administrative Court's case law. The key question is whether the sportsman and referee should be regarded as an employee in accordance with the Income Tax Act or as a self - employed person. Partial objective of the thesis is to assess whether current practice in the Czech Republic corresponds with the legislation or as the case may be suggest an acceptable solution which would reflect the needs of professional sport with respect to the current circumstances in the Czech sports. The first and the second chapter present the theoretical part of the thesis, which describes the key concepts and specify the subject of the thesis. This part is followed by the analytical section which consists of...

Legal Regulation of Taxation of Sportsmen Abstract / Summary: This thesis deals with sportsmen taxation in the Czech Republic and in foreign countries, especially in Germany. The first chapter, following the introduction, is made of fundamental concepts related to this topic (tax, charge, subject to taxation, income-tax, value-added tax, gift tax). Chapter Two of this paper discusses the status of sportsmen in the Czech Legal system and determination is made in terms of professional sportsmen, semiprofessional, amateurs and and in terms of the way powering the sport, either personally or collectively. The third chapter deals with the legal status of professional sportsmen and their classification of particular taxes, emphasis is placed on tax on personal income. However, a brief excursion is made into value-added tax also. Chapter Four is dedicated to the issues of international taxation on sportsmen, because it's apparent the sport is overall activity which cannot be limited by boundaries. Chapter Five coming before the Conclusions is discussing briefly the German legislation in force influencing the taxation of sportsmen issues. Key Words: Sport, sportsman, income tax, value-added tax, gift tax, international taxation, the Czech Republic, Germany.

M.Com. (SA & International Taxation )
Players’ contracts in sports are assets for the professional clubs. Like any other assets, these contracts could be sold to other clubs, locally or internationally, at a fee. The South African Revenue Service has issued a “Draft guide on the taxation of professional sports clubs and players” (hereafter the Guide). This Guide was issued as a draft in 2010 and had not been finalised at the time of the completion of this dissertation. Using a doctrinal research methodology, which includes a systematic exposition of the Guide by using the Income Tax Act 58 of 1962 (hereafter the Act), case law and the other appropriate literature, this study is aimed at interpretatively reviewing the contents of this Guide, specifically the section of the Guide that deals with the income tax implications arising from the transfer of players. The review of the Guide revealed that the Guide is technically incorrect in certain aspects. For instance, the definition of “asset” per the Eighth Schedule of the Act was incorrectly cited to specifically exclude trading stock. In addition, the Guide has excluded from its scope transactions between residents and non-resident clubs and players. Furthermore, the Guide did not deal with all aspects relating to player transfers, such as player swops and third party ownership of player rights. In some instances, the Guide was found to be ambiguous, especially in dealing with free transfers. The study has found that the transfer fees could either be included in gross income or be subject to capital gains tax for the transferor club, depending on whether their nature was revenue or capital. The deciding factor was determined to be the intention of the transferor club at the time of transfer of the player rights. Where the intention of a transferor club is to enter into a profit-making scheme, the transfer fees would be revenue in nature and included in gross income in terms of s 1 of the Act (Elandsheuwel Farming (Edms) Bpk v SBI, 39 SATC 163). Where the intention of a transferor club is to use the player as income-producing asset, then the transfer fees would be capital in nature, and be subject to capital gains tax. For the transferee club, it was determined that the player is usually acquired to bring to the club an advantage of the enduring benefit (British Insulated and Helsby Cables v Atherton 1926 A.C. 205). This therefore implies that the transferee club would not be able to claim the deduction under s 11(a) of the Act. The study will be useful to the sports clubs as it provides a comprehensive guide on the income tax treatment of player transfers.

Atrair um novo cliente pode custar até cinco vezes mais do que manter um cliente atual satisfeito e por isso a capacidade de detetar, o mais cedo possível, quais os clientes que irão abandonar ou deixar de adquirir um determinado produto ou serviço, bem como as medidas que podem ser implementadas para evitar esse abandono ou quebra nas vendas são questões que todas as empresas gostariam de ver respondidas. Neste trabalho é apresentado um sistema inteligente que gera conhecimento acionável (“actionable knowledge”) baseado em dados reais e orientado para acções de fidelização de clientes de serviços desportivos regulares onde ocorrem elevadas taxas de cancelamento. Seguindo os passos do Database Marketing o sistema evolui em três fases: numa primeira fase, parte de dados obtidos nas bases de dados dos sistemas ERP e CRM existentes nas instalações desportivas, dos quais extrai, transforma e carrega dados num Data Warehousing; numa segunda fase são aplicados modelos preditivos para identificar perfis mais suscetíveis de abandono; e por fim, são aplicadas ações de fidelização direcionadas a cada um dos perfis encontrados com o objetivo de aumentar a fidelização e a taxa de retenção.
Attracting a new customer can cost up to five times more than keeping a current customer satisfied and therefore the ability to detect, as early as possible, which customers will abandon or fail to purchase a particular product or service, as well as measures which can be implemented to avoid this abandonment or break in sales are issues that all companies would like to see answered. This work presents an intelligent system that generates actionable knowledge based on real data and oriented to customer’s loyalty actions in regular sports services where high drop out rates occur. According to Database Marketing’s steps the system evolves in three phases: in a first phase, data obtained in the ERP and CRM systems databases existing in the sports facilities, from which it extracts, transforms and loads data in a Data Warehousing; in a second phase, predictive models are applied to identify profiles more susceptible to drop out; and finally, loyalty actions are applied to each one of the found profiles in order to increase loyalty and the retention rate.

O presente trabalho aborda a temática dos retornos provenientes das estratégias de momentum, visando a investigação e estudo de potenciais resultados positivos provenientes deste tipo de estratégia de mercado com incidência no mercado cambial, usando-se para isso uma amostra composta por vinte e três (23) diferentes moedas e um horizonte temporal de trinta (30) anos (1985-2015). São construídos 25 tipos diferentes (quanto a períodos de formação e manutenção da carteira) de estratégias, sobre as quais se comparam as suas diferentes rentabilidades e eficiências. Além disso, usa-se como comparação os resultados oriundos de regras técnicas de negociação, sendo neste caso concreto, as médias móveis. Isto irá permitir haver um termo de comparação para com os resultados de momentum alcançados e assim auxiliar a análise deste tipo de estratégia e a sua rentabilidade no mercado da moeda.
The present work addresses the issue of returns from momentum strategies, aiming the investigation and study of potential positive results from this kind of trading strategy with incidence on foreign exchange market, using a sample composed by twenty three (23) different currencies and a time-horizon of thirty (30) years (1985-2015). Twenty-five (25) different types (for periods of portfolio formation and holding) of strategies are formed, on which their different returns and efficiencies are compared. Besides, the outcome from technical negotiation rules are used as a comparison, in this particular case, the moving averages. This will allow a term to be compared to the momentum results achieved and thus help the analysis of this type of strategy and its profitability in the currency market.
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