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Tax Aggressiveness Chinas Corporate Tax Reforms And Market Impact
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Book Synopsis Tax Aggressiveness, China's Corporate Tax Reforms, and Market Impact by : Guodong Yuan
Download or read book Tax Aggressiveness, China's Corporate Tax Reforms, and Market Impact written by Guodong Yuan and published by . This book was released on 2013 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enactment of China's new Enterprise Income Tax Law was announced on March 16 2007 (with effect from January 1 2008). The Enterprise Income Tax Law potentially increased the tax burden on foreign-invested enterprises (FIEs) and foreign investors as a whole (removing concessions), potentially lowering the tax burden for domestic companies (a fall in the nominal tax rate from 33 per cent to 25 per cent). The announcement of such significant changes to corporate tax arrangements provides a natural 'experimental platform' for research on the impact of regulatory change in a transition economy and developing capital market. This study uses the event study method to investigate the relationship between corporate tax aggressiveness and stock price reactions to the announcement of the new Enterprise Income Tax Law. To account for key features of China's stock markets and corporate behavior, we address the impact of ownership structure, particularly high levels of state and foreign ownership, and differences in the regulatory environment between China's Shanghai and Shenzhen stock markets. We conclude that the announcement of the Enterprise Income Tax Law had significant market value effects. Additionally, we find variations in market reaction for individual stocks based on tax aggressiveness, ownership, and location of listing.
Book Synopsis Governing Corporate Tax Management by : Chen Zhang
Download or read book Governing Corporate Tax Management written by Chen Zhang and published by Springer Nature. This book was released on 2019-10-04 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on corporate sector development in the context of transition economies, such as China. In doing so, the book uses quantitative methods to test several hypotheses that are salient to the Chinese economic situation. Topics covered in the book include the relationship between tax management and firm performance, the extent to which a short-term focus on tax management can lead to long-term vulnerabilities, the impact of government ownership on tax management impact, and the link between the co-evolution of marketization and corruption, and institutional change and tax management. With that the book offers rich empirical evidence to examine tax management, firm performance and corruption in a broad context, while permitting comparison between the Chinese experience and the market economies.
Book Synopsis Tax Administration Reform in China by : John Brondolo
Download or read book Tax Administration Reform in China written by John Brondolo and published by International Monetary Fund. This book was released on 2016-03-17 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax administration improvements have contributed significantly to a doubling of China’s tax-to-GDP ratio and the substantial reduction in taxpayers’ compliance costs since the mid-1990s. This paper describes the key features of China’s tax administration and their evolution over the last 20 years. It also identifes emerging challenges to the tax system and areas where further tax administration improvements are needed to sustain tax revenue and reduce taxpayers’ compliance costs in the future.
Book Synopsis China's Tax Reform Options by : Trish Fulton
Download or read book China's Tax Reform Options written by Trish Fulton and published by World Scientific. This book was released on 1998 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected papers presented at the International Symposium on Reform of the Chinese Tax System, held at the University of Western Ontario, in London, Canada, in Aug. 1996.
Book Synopsis Corporate taxes and labor market informality evidence from China by : Deng, Guoying
Download or read book Corporate taxes and labor market informality evidence from China written by Deng, Guoying and published by Intl Food Policy Res Inst. This book was released on 2024-03-25 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the association between corporate income taxes and labor market informality. We present a theoretical framework showing that a higher tax enforcement can push firms to pass on the burden to workers by reducing their social security compliance as well as downsizing and lowering wages. The model propositions are tested using a regression discontinuity design that exploits a national corporate tax reform in China. We find that for every one percentage point increase in the effective tax rate, firms reduce their probability of making basic social security contributions by 0.8%, their compliance rate by 1.4 percentage points, and the probability of making supplementary contributions by 0.6%, while the number of workers and wages fall by 4.4% and 0.7%, respectively. We observe that the effects are more salient among firms privately owned and controlled, large businesses, and in locations where social security contributions are directly collected by the social security administration. The findings suggest that workers not only bear part of the higher corporate taxes faced by firms, but an increase in firms’ tax burden contributes to social security evasion and informality in labor markets.
Book Synopsis International Corporate Tax Strategies for China Inbound Investments by : C.Y.M. Ng
Download or read book International Corporate Tax Strategies for China Inbound Investments written by C.Y.M. Ng and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: There have been swift developments in international tax over the past few years. All tax professionals, businessmen and relevant stakeholders are very alert to the implications as brought by the Base Erosion and Profit Shifting (BEPS) Project of the OECD and the tax reform in a number of countries, including the major economic jurisdictions like the United States (U.S.) and the People's Republic of China (China). While different jurisdictions are eager in having domestic tax reforms to avoid tax-base erosion and to attack vigorous tax avoidance schemes of multinational corporations (MNCs) to shift their taxable profits to other jurisdictions of lower tax rates, such reforms also aim at attracting more foreign investments to further strengthen and sustain the economic growth and developments. Over the last few years, China has promulgated several pieces of new rules that supersede or replace some of the former rules. These changes will have great impacts on foreign investors when they are having or realizing their Chinese investments. This article discusses the salient points and assesses the implications of Public Notice No. 9 (PN 9) which was issued on 3 February 2018, and will take effect from 1 April 2018. Since this long-awaited PN 9 supersedes or replaces some of the former rules about claiming tax treaty benefits when receiving Chinese-sourced dividends, it will have a significant impact on MNCs when they are investing in China. MNCs may need to reconsider their existing holding structure and make adjustments to their operation plans in order to maximize their global investment returns.
Book Synopsis The Impact of Corporate Taxes on Firm Innovation by : Jing Cai
Download or read book The Impact of Corporate Taxes on Firm Innovation written by Jing Cai and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper exploits a tax reform on manufacturing firms in China to study the impact of taxes on firm innovation. The reform switched the corporate income tax collection from the local to the state tax bureau and reduced the effective tax rate by 10%. The reform only applied to firms established after January 2002, allowing us to use regression discontinuity design as the identification strategy. The results show that lower taxes improved both quantity and quality of firm innovation. Moreover, the reform has a bigger impact on firms that are financially constrained and firms that engage more in tax evasion.
Book Synopsis International Taxation in China by : Jinyan Li
Download or read book International Taxation in China written by Jinyan Li and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Chinese Tax Law and International Treaties by : Lorenzo Riccardi
Download or read book Chinese Tax Law and International Treaties written by Lorenzo Riccardi and published by Springer. This book was released on 2013-06-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The People’s Republic of China’s tax policies and international obligations are as multifaceted and dynamic as they are complex, developing closely with the nation’s rise to the world’s fastest-growing major economy. Today, after decades of reform and the entry into the World Trade Organization, China has developed regulatory systems that enable it to provide stable administration, including a tax structure. China’s main tax reform can be attributed to the enactment of the Enterprise Income Tax Law, which came into effect on January 1, 2008. Chinese tax regulations include direct taxes, indirect taxes, other taxes, and custom duties and from a collection point of view, China’s tax administration adopts a very devolved system, with revenue collected and shared between different levels of government in accordance with contracts between the different levels of the tax administration system. With respect to international treaties, China has established a network of bilateral tax treaties and regional free trade agreements. This publication describes in detail China’s complex tax system and policies, as well as major bilateral treaties in which China has entered into using country-by-country analysis. Lorenzo Riccardi is Tax Advisor and Certified Public Accountant specialized in international taxation. He is based in Shanghai, where he focuses on business and tax law, assisting foreign investments in East Asia. He is an auditor and an advisor for several corporate groups and he is partner and Head of Tax of the consulting firm GWA, specializing in emerging markets.
Book Synopsis Tax Reform in the China Context by : Nolan Sharkey
Download or read book Tax Reform in the China Context written by Nolan Sharkey and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research into the relationships between people and organizations that drive social behaviour and institutions in China has produced some profound findings on the structure of society in China. The network structure of private enterprise and the importance of Guanxi are often highlighted. While some scholars of comparative law have investigated the implications these issues have for legal reform/development in China, too many projects assume that emulation of the laws in developed legal systems is the way forward for China. This ignores the importance of tailoring China's laws to the structure of Chinese society. The debate surrounding the reform of income tax laws in China is no exception with many commentators looking to Western tax laws to solve such severe problems as tax avoidance and low revenue yields. This paper seeks to address some of the issues that arise in applying income tax laws based on those of developed countries to private enterprise in China with a particular focus on the legal design of the income tax unit.
Book Synopsis The Impact of China Tax Reform on Taiwan's Direct Investment by :
Download or read book The Impact of China Tax Reform on Taiwan's Direct Investment written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: China had experienced high-speed economic growth rate, and the FDI (Foreign direct investment) had played an important role. China usually adjusted tax rate to attract the FDI and achieve macro-control. After entering WTO, China started to cancel some foreign favorable tax policies to meet the requirement of WTO. Many scholars thus started to discuss the impact of tax reform and whether this tax reform would promote the industry upgrade. From the data of the Ministry of Commerce, we find that FDI from Taiwan had played an important role. It is because the racial relationship, same language, and near skin color could help overcome the barrier entering China market. What more important is that China had released many favorable tax policies, which can attract a lot of FDI. In this paper, we introduce the Chinese tax and do the empirical and penal data analysis from the statistic data which mainly focuses on the two tax reforms in 1994 and 2002. After doing this research, we wish we can realize the impact of China tax reform on Taiwan FDI. Moreover, we expect that this paper can benefit businesses when they are going to invest in China and can be the reference to both Taiwan and China government when they formulate the policy about the foreign investment.
Book Synopsis China's Investment Tax Reform and Its Impact on Firms by : Tian, Xi
Download or read book China's Investment Tax Reform and Its Impact on Firms written by Tian, Xi and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The corporate tax reform in China that was implemented nationwide in 2009 was first introduced as a pilot program in 2004 in three northeastern provinces. The program consisted of two experiments - selected heavy industries received a VAT exemption and a bonus deprecation allowance while the rest of the manufacturing firms received bonus depreciation allowance. Employing double differencing with propensity score matching on a large census-type manufacturing firm-level data-set of unlisted firms, we find that both experiments led to an increased firm size, increased labor productivity (with reduced employment), and deteriorated profitability for the first two years with signs of recovery after three years of treatment. The firms receiving both VAT deduction and bonus depreciation exhibited some substitution between short-term and long-term debts, whereas firms receiving only bonus depreciation showed some increase in their overall debt.
Download or read book Taxing Wages 2021 written by OECD and published by OECD Publishing. This book was released on 2021-04-29 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annual publication provides details of taxes paid on wages in OECD countries. It covers personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. Taxing Wages 2021 includes a special feature entitled: “Impact of COVID-19 on the Tax Wedge in OECD Countries”.
Book Synopsis Corporate Governance Research on Listed Firms in China by : T. J. Wong
Download or read book Corporate Governance Research on Listed Firms in China written by T. J. Wong and published by Now Publishers. This book was released on 2016-03-07 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Research on Listed Firms in China: Institutions, Governance and Accountability reviews prior studies and proposes new research directions for the corporate governance of China's listed firms. The primary focus is to investigate the underlying relation between China's institutional environment and its listed firms' corporate governance, and show how formal and informal governance mechanisms actually work within these firms. The monograph is organized as follows: after an introduction, Section 2 provides a discussion of the key unique institutional features in China. Section 3 reviews prior research on the effects of government ownership and control on firm performance, managerial turnover and compensation, and accounting. A number of research directions are proposed in Section 4, and Section 5 concludes the monograph.
Book Synopsis How Does Stock Liquidity Affect Corporate Tax Avoidance? Evidence from China by : E. Han Kim
Download or read book How Does Stock Liquidity Affect Corporate Tax Avoidance? Evidence from China written by E. Han Kim and published by . This book was released on 2020 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies show stock liquidity improves price informativeness and strengthens governance. Stock price informativeness offers an incentive for managers with equity-based compensation to avoid tax. Strengthening governance, by contrast, reduces tax avoidance if diverting corporate profits for private benefits complements tax avoidance. Using an exogenous shock that drastically increased the liquidity of stocks listed in China, we find robust evidence that higher liquidity significantly increases the overall level of tax avoidance. The increase is more substantial when controlling shareholders own more shares, and when diversion is less complementary to tax avoidance. Liquidity has no significant impact on tax evasion--the most aggressive and risky tax avoidance--and at the higher ends of the tax avoidance distribution. The positive and significant effects are observed only at lower levels of tax avoidance. We attribute the weaker impact of liquidity on aggressive tax avoidance to diversion being more complementary to higher-risk tax avoidance.
Book Synopsis Green and Social Economy Finance by : Karen Wendt
Download or read book Green and Social Economy Finance written by Karen Wendt and published by CRC Press. This book was released on 2021-07-21 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Green and Social Economy Finance is a compilation of chapters by experts, linking research and practice. This anthology provides a new thinking on social economy green finance, showing emerging themes and trends. It spans from stock markets, green finance, innovations, digitalization to social finance, governance and theories of change. It concentrates on impact, opportunity recognition and development of financial products designed to finance the green and social economy. Without the attraction of capital, social entrepreneurship, and innovations, green finance can face difficulty in addressing business solutions. Green and social economy is a nascent field. The authors address the conceptualization of green and social solutions and identify new trends in the finance industry products and approaches. The book demonstrates that aligning finance and investment with the Paris Agreement, sustainable development goals and needs and interests of society are feasible.
Book Synopsis OECD Tax Policy Studies Tax Policy Reform and Economic Growth by : OECD
Download or read book OECD Tax Policy Studies Tax Policy Reform and Economic Growth written by OECD and published by OECD Publishing. This book was released on 2010-11-03 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report investigates how tax structures can best be designed to support GDP per capita growth.
