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The objective of this contribution is to assess the development and the current state of the tax burden in the Czech Republic as a significant factor of the growing competition among the individual European Union countries, concentrating on the statutory and implicit corporate income tax rates. Comparison of the implicit tax rates across the individual countries provides indications whether substantially different tax approaches exist to companies with identical characteristics, but dislocated in different countries. Introduction As far as decisions of corporate management are concerned, the taxation system is one of the decisive factors. The taxation environment in which a company operates affects the amount and distribution of the disposable profit, a selection of optimal financial and asset structure, investments etc. It is directly related to the financial position of the company, its individual activities and affects also production factors. For the foreign investors the amount of burden is one of the significant factors affecting the selection of the place of business. Taxes are defined as mandatory, irrecoverable payments stipulated by law to the public budget. They are a non-purpose and non-equivalent payment. They repeat regularly in time intervals (for instance, income tax payment on an annual basis), or irregular and are paid under certain circumstances (for instance, on each transfer of real estates). In the society, taxes fulfil a number of significant functions and their role results from the major economic functions of the public sector. The most important functions include allocation, nondistribution, stabilisation and fiscal functions. In the event of expressions of ineffectiveness of the market in allocation of resources, the allocation function is applied, when taxes may affect distribution of funds to those areas (sectors), which fall under the state interest (e.g. via tax 1 KUBÁTOVÁ, K. Daňová teorie a politika. Edition 4. Prague: ASPI, 2006. ISBN 80-7357-205-2. p. 16.

CORPORATE TAX BURDEN IN THE CZECH REPUBLIC AND EUROPEAN UNION