TOXIC ASSETS OF THE FISCAL POLICY OF THE CZECH REPUBLIC

The fundamental premise for the regular performance of economic policy, fulfilment of the revenues of the state budget and thus creating optimal conditions for efficient fiscal policy realization, is to minimize state receivables after maturity, as the theoretical planning of the revenue side of the state budget is irrelevant considering that tax payers and other entities fail to fulfil their liabilities towards the state, or more precisely the state budget, and conversely the state is not able to provide the approved income in the state budget. The text is structured in the following way. First, the author took into consideration the theories which are connected with surveyed matters, followed by the characteristics and causes of state receivable development for the period of 1991 to 2014. The economic testing of dependence comes after. The next chapter characterizes the development of two experimental models for the management process of recovery of state receivables after maturity, research results included. The last chapter provides all the research results, evaluates the economic policy significance of the toxic assets of fiscal policy and suggests some solutions.