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Determinants And Consequences Of Corporate Tax Avoidance
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Book Synopsis Determinants and Consequences of Corporate Tax Avoidance by : Gerrit M. Lietz
Download or read book Determinants and Consequences of Corporate Tax Avoidance written by Gerrit M. Lietz and published by . This book was released on 2013 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: I provide a first comprehensive literature survey with an exclusive focus on empirical corporate tax avoidance research. Shackelford and Shevlin [2001] traced the earlier developments of archival, microeconomic-based, empirical income tax research, pointing out a nascent interest for research on the determinants of tax aggressiveness. Nine years later, Hanlon and Heitzman [2010] labeled “corporate tax avoidance” as one of four “main areas” of tax research in accounting. Until and since then, work in this area has grown at a rapid pace and clearly remains a vibrant area of tax research. Hence, the goal of this study is to assist both researchers who are new to this field as well as experienced readers by providing an updated overview of empirical studies investigating firms' efforts to reduce their explicit tax burden. In a first step, the origins of tax avoidance research in the corporate context are briefly summarized. The second section briefly reviews numerous fundamental firm characteristics (e.g. size, capital structure, and asset mix) that have been shown to explain some variation in levels of tax avoidance. Third, the main part of this study is devoted to the discussion of the extensive empirical findings on the determinants and consequences of corporate tax avoidance (e.g. various corporate governance arrangements and alternative firm value implications). Finally, the study concludes with suggestions for future research.
Book Synopsis Corporate Tax Avoidance by : Gerrit Malte Lietz
Download or read book Corporate Tax Avoidance written by Gerrit Malte Lietz and published by . This book was released on 2013 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Challenges in Identifying Effects and Determinants of Corporate Tax Avoidance by : Birgit Hüsecken
Download or read book Challenges in Identifying Effects and Determinants of Corporate Tax Avoidance written by Birgit Hüsecken and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Avoidance Research by : Antonio De Vito
Download or read book Tax Avoidance Research written by Antonio De Vito and published by Springer Nature. This book was released on with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Corporate Tax Avoidance Strategy by : Bruce Alan Leauby
Download or read book Determinants of Corporate Tax Avoidance Strategy written by Bruce Alan Leauby and published by . This book was released on 1990 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Tax Avoidance and the Real Effects of Tax Risk Disclosures by : Charles Gavan McClure
Download or read book Determinants of Tax Avoidance and the Real Effects of Tax Risk Disclosures written by Charles Gavan McClure and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: I model the determinants of corporate tax avoidance to estimate the real effect of tax risk disclosures. Prior research hypothesizes that firms forgo profitable tax-saving strategies due to non-tax costs, financial reporting incentives, and tax authority scrutiny. Because many of these frictions are not directly observable, I quantify their effects using a dynamic structural model in which the firm chooses a set of tax-saving projects in each period to maximize the discounted stream of future net income. Structural modeling also permits me to quantify the real effect of tax risk disclosures. I estimate the disclosure decreases tax avoidance by 7.6\% but overstates the expected repayment after including audit and inspections by 6.0 times. When I adjust the disclosure to reflect the expected repayment, I find tax avoidance increases by 5.7\%. Finally, I find that average non-tax costs decrease pre-tax earnings by 14.6\% but that the cross-sectional dispersion in effective tax rates primarily arises from differences in the ability to avoid taxes rather than differences in non-tax costs.
Book Synopsis The Effect of Competitive Advantages on Corporate Tax Avoidance by : Andrew D. Almand
Download or read book The Effect of Competitive Advantages on Corporate Tax Avoidance written by Andrew D. Almand and published by . This book was released on 2016 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, managers of U.S. corporations have explained the motivation behind engaging in extreme and public forms of tax avoidance (i.e. corporate inversions) as addressing the inability to gain or maintain global competitive advantages (Security 2014, 1). While prior research explores how a corporation’s overall business strategy can affect tax avoidance behavior (Higgins et al. 2015) and measures the effects of different components of competitive advantages on tax avoidance (Kubick et al. 2015; Gao et al. 2015), how total global competitive advantages impact tax avoidance remains an unanswered empirical question. Therefore, this study considers the following research questions: 1)How does the effective tax rate of a corporation affect the future competitive advantages of a corporation? and 2) How do competitive advantages affect future tax avoidance? To address these questions, this dissertation uses competitive effort proxies derived from accounting data (Dickinson and Sommers 2012), to develop a composite score measuring the corporation’s total global competitive advantages and examines the impact of total global competitive advantages on different proxies for tax avoidance. The results of several univariate and multivariable tests indicate that while effective tax rate measurements do not appear to inhibit the competitive advantages of corporations, corporate executives behave as if they believe the tax rate hinders their ability to compete; as competitive advantages rise, so does the likelihood that the corporation will engage in tax avoidance activities. However, a trend reversal occurs and those corporations with the highest competitive advantages decrease tax avoidance activities. An analysis of the corporations that invert show that they actually decrease in their competitive advantages in the second year after the inversion, which makes them significantly lower than their closest industry peers based on profitability. This study adds to the growing research on the determinants of tax avoidance. It also develops a new composite measurement of total global competitive advantages, which can be useful to future research in strategic management. The results of these analyses should also be of interest to legislators. Corporations continually call for legislation to overhaul the tax code; before doing so, legislators should be aware of the true determinants of problems (such as inversions) before trying to devise a solution.
Book Synopsis International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots by : Sebastian Beer
Download or read book International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots written by Sebastian Beer and published by International Monetary Fund. This book was released on 2018-07-23 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, on average, a 1 percentage-point lower corporate tax rate will expand before-tax income by 1 percent—an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research.
Book Synopsis On the determinants and effects of corporate tax transparency by : Raphael Müller
Download or read book On the determinants and effects of corporate tax transparency written by Raphael Müller and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Determinants and Effects of Corporate Tax Transparency: Review of an Emerging Literature by : Raphael Müller
Download or read book On the Determinants and Effects of Corporate Tax Transparency: Review of an Emerging Literature written by Raphael Müller and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Corporate Tax Avoidance Among Malaysian Public Listed Companies by : Ibrahim Aramide Salihu
Download or read book Determinants of Corporate Tax Avoidance Among Malaysian Public Listed Companies written by Ibrahim Aramide Salihu and published by . This book was released on 2015 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the issue of tax avoidance practices is as old as tax itself, the manners and ways they are being perpetrated in recent times have transmuted so sophisticated among the corporate taxpayers. A report by the Global Financial Integrity in 2011 ascribes sixty to sixty-five percent of the global illicit flow of fund among developing economies to commercial tax non-compliance. Unfortunately the report ranks Malaysia fifth among the developing economies with the most illicit outflow of fund. This study, thus, investigates the determinants of corporate tax avoidance among Malaysian large companies. Specifically, the study investigates relationships of corporate tax avoidance with three forms of corporate ownership (family; foreign and government ownerships) and whether internal and external corporate governance mechanisms could mitigate such relationships. The study is among the very few studies on corporate tax avoidance both in Malaysia and internationally. The empirical data were obtained from the annual reports of the top 200 companies based on market capitalization of Bursa Malaysia over a period of five financial years. The collected data of 600 firm-year observations were analysed using the system Generalised Method of Moment (GMM) estimator. The findings showed that family oriented; foreign related firms and government-linked companies (GLCs) are tax avoidant in the main and interaction effect model estimations. However, the directors on the boards have little impact in mitigating firms' tax avoidance practices given their financial interests in the companies. However, despite this, board independence is found to have interactive negative effect with the forms of ownership in relations to corporate tax avoidance. The quality of external audit was equally documented to reduce the chances of tax avoidance practices. These findings were later subjected to qualitative investigation through face-to-face interview sessions with tax auditors in Inland Revenue Board Malaysia. The findings from the analysis of their responses provided further explanation to the quantitative results. It was concluded that tax avoidance practices are more of cost-benefit consideration rather than the issue of organizational legitimacy. The findings of this study are of relevant importance in the selection of cases for tax audit and investigation by the IRBM.
Book Synopsis Early Evidence on the Determinants of Unrecognized Tax Benefits by : Richard A. Cazier
Download or read book Early Evidence on the Determinants of Unrecognized Tax Benefits written by Richard A. Cazier and published by . This book was released on 2014 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the association between disclosures of unrecognized tax benefits made under FASB Interpretation No. 48 and existing measures of tax avoidance. Prior research suggests managers use discretion in accounting for income tax contingencies to meet key earnings targets. It is not clear however, whether such opportunism mitigates the signal about tax avoidance activity provided by these contingencies or whether the opportunistic use of these reserves continued following the adoption of FIN 48. We find that both the level of unrecognized tax benefits at fiscal year-end and changes in the liability linked to current year tax positions are related to firm characteristics that prior research has found to be associated with tax avoidance activity. Further, we document a significant and negative association between firms' cash effective tax rates and the ending balance of unrecognized tax benefits. We believe this analysis will be useful to researchers and financials statement users that rely on financial statement-based measures of tax avoidance to evaluate corporate tax planning.
Book Synopsis Corporate Governance and Corporate Tax Avoidance by : Jost Kovermann
Download or read book Corporate Governance and Corporate Tax Avoidance written by Jost Kovermann and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Research question/issue: How does corporate governance affect corporate tax avoidance?Research findings/insights: Applying a stakeholder-oriented view, we find that various aspects of corporate governance institutions, such as management compensation, board characteristics, ownership structure, audit, stakeholder pressure and CSR performance & reporting have a strong influence on corporate tax avoidance. Findings indicate that strong corporate governance quality steers tax avoidance at its firm-specific optimal level. It crucially depends on the strength of corporate governance institutions whether a given level of tax avoidance is beneficial or harmful to the firm.Theoretical/academic Implications: The classical principal-agent theory is insufficient in explaining corporate tax avoidance. Investigating the determinants of corporate tax avoidance requires a more comprehensive approach taking into account corporate governance institutions and all stakeholders that are relevant to the firm. This review underlines that taxation is not merely a sub-discipline of accounting but spreads out into all areas of economics and business research and even into neighboring disciplines like psychology, sociology, political and administrative science.Practitioner/policy Implications: To practitioners, we show how strongly developed corporate governance institutions have the potential to increase tax avoidance, making firms more profitable, but also to limit tax avoidance to a level where the arising risks do not outweigh the benefits. To policy makers, we reinforce the necessity of strict tax enforcement with high rates of audit to prevent corporate taxpayers from avoiding taxes. Furthermore, we show that internal monitoring, e.g. by audit committees and independent board members can effectively complement external tax enforcement.
Book Synopsis Tax Avoidance Activities of U.S. Multinational Corporations by : Sonja Lynne Olhoft
Download or read book Tax Avoidance Activities of U.S. Multinational Corporations written by Sonja Lynne Olhoft and published by . This book was released on 1999 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Firm Lower Bound: Characteristics and Impact of Corporate Minimum Taxation by : Aqib Aslam
Download or read book A Firm Lower Bound: Characteristics and Impact of Corporate Minimum Taxation written by Aqib Aslam and published by International Monetary Fund. This book was released on 2021-06-08 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of minimum taxes and attempts to quantify their impact on economic activity. Minimum taxes can be effective at shoring up the corporate tax base and enhancing the perceived equity of the tax system, potentially motivating broader taxpayer compliance. Where political and administrative constraints prevent reforms to the standard corporate income tax, a minimum tax can help mitigate base erosion from excessive tax incentives and avoidance. Using a new panel dataset that catalogues changes in minimum tax regimes over time around the world, firm-level analysis suggests that the introduction or reform of a minimum tax is associated with an increase in the average effective tax rate of just over 1.5 percentage points with respect to turnover and of around 10 percent with respect to operating income. Minimum taxes based on modified corporate income lead to the largest increases in effective tax rates, followed by those based on assets and turnover.
Book Synopsis The Effects of Taxation on Multinational Corporations by : Martin Feldstein
Download or read book The Effects of Taxation on Multinational Corporations written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tax rules of the United States and other countries have intended and unintended effects on the operations of multinational corporations, influencing everything from the formation and allocation of capital to competitive strategies. The growing importance of international business has led economists to reconsider whether current systems of taxing international income are viable in a world of significant capital market integration and global commercial competition. In an attempt to quantify the effect of tax policy on international investment choices, this volume presents in-depth analyses of the interaction of international tax rules and the investment decisions of multinational enterprises. Ten papers assess the role played by multinational firms and their investment in the U.S. economy and the design of international tax rules for multinational investment; analyze channels through which international tax rules affect the costs of international business activities; and examine ways in which international tax rules affect financing decisions of multinational firms. As a group, the papers demonstrate that international tax rules have significant effects on firms' investment and other financing decisions.
Book Synopsis Taxes and Business Strategy by : Myron S. Scholes
Download or read book Taxes and Business Strategy written by Myron S. Scholes and published by . This book was released on 2015-01-03 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: For MBA students and graduates embarking on careers in investment banking, corporate finance, strategy consulting, money management, or venture capital Through integration with traditional MBA topics, Taxes and Business Strategy, Fifth Edition provides a framework for understanding how taxes affect decision-making, asset prices, equilibrium returns, and the financial and operational structure of firms. Teaching and Learning Experience This program presents a better teaching and learning experience-for you and your students: *Use a text from an active author team: All 5 authors actively teach the tax and business strategy course and provide students with relevant examples from both classroom and real-world consulting experience. *Teach students the practical uses for business strategy: Students learn important concepts that can be applied to their own lives. *Reinforce learning by using in-depth analysis: Analysis and explanatory material help students understand, think about, and retain information.
