Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Influence Of Tax Loss Carry Forwards On The Valuation Of Corporations In The Context Of Acquisitions
Download The Influence Of Tax Loss Carry Forwards On The Valuation Of Corporations In The Context Of Acquisitions full books in PDF, epub, and Kindle. Read online The Influence Of Tax Loss Carry Forwards On The Valuation Of Corporations In The Context Of Acquisitions ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis The Influence of Tax Loss Carry-Forwards on the Valuation of Corporations in the Context of Acquisitions by : Daniel Ehrmann
Download or read book The Influence of Tax Loss Carry-Forwards on the Valuation of Corporations in the Context of Acquisitions written by Daniel Ehrmann and published by GRIN Verlag. This book was released on 2020-09-22 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2017 in the subject Business economics - Accounting and Taxes, grade: 1,3, University of Applied Sciences Aalen, language: English, abstract: This paper deals with the influence of tax loss carry-forwards of target companies on their valuation in acquisitions. Under German tax law, losses can be offset with future profits, if certain conditions are met. This makes tax loss carry-forwards an asset, which may influence the corporate value of the target company from the purchaser's persepective. When and how tax loss carry-forwards may impact corporate valuations in the context of acquisitions shall be explained in this paper. The main body of the paper is divided into two parts. The first part includes the theoretical foundations, beginning with a short introduction into the topic of M&A and company valuations for the further clarification of the topic. Afterwards, legal foundations about the treatment of tax loss carry-forwards in case of transactions are presented. The subsequent analysis part includes mainly two qualitative research methods. At first, two expert interviews are conducted to find out how relevant the topic is in practice and how it is practically addressed. At second, the mathematical relationship between tax loss carry-forwards and the corporate value is determined by doing a case study. Thereby, a fictitious corporation is assessed. For a comprehensive research, different cases are considered. During the last decades, mergers & acquisitions have increased substantially in popularity. Their growth in transaction volume and the number of transactions bespeak the importance of this topic. Although theory seems plausible, the success of M&A-transactions does not always meet expectations. On the one hand, this is often owed to unrealistic assumptions, especially overrated hypothetic synergy effects. On the other hand, it origins in the complexity of such transactions.
Book Synopsis Valuation of loss carryforwards in the context of business valuation by : Ruben Kuhnle
Download or read book Valuation of loss carryforwards in the context of business valuation written by Ruben Kuhnle and published by GRIN Verlag. This book was released on 2020-01-23 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2019 in the subject Business economics - Investment and Finance, grade: 1.3, University of Hohenheim (Institut für Financial Management), language: English, abstract: This thesis concentrates on the Discounted Cash Flow (DCF) analysis. More specifically, it is worked with the Weighted-average Cost of Capital (WACC) method, the Adjusted Present Value (APV) method, and the Flow-to-Equity method . In addition, the focus is on tax loss carryforwards and the problem of how to incorporate the valuation of them into a DCF framework. Generally, two approaches are accepted for valuing loss carryforwards. One can either indirectly or directly determine the value of loss carryforwards. The thesis starts by explaining the fundamentals of business valuation and how the three DCF methods work. After that, a literature review is presented. The purpose of the literature review is to show the strategies others have developed to value loss carryforwards correctly. To show how to incorporate the valuation of loss carryforwards into a DCF framework, an example case was designed that involves two identical companies. The WACC method, the APV method, and the Flow-to-Equity method are applied and combined with the direct, as well as, the indirect method. When the results of the direct method are compared with the results of the indirect method for each one of the three DCF methods, it is concluded which of these approaches works, and gives a correct solution, and which one does not.
Book Synopsis The Influence of Taxes and Tax-Related Factors on Debt-Shifting in Mergers & Acquisitions by : Pascal Stock
Download or read book The Influence of Taxes and Tax-Related Factors on Debt-Shifting in Mergers & Acquisitions written by Pascal Stock and published by . This book was released on 2016 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examines the influence of taxes and tax related factors on debt-shifting towards targets after the merger or acquisitions (M&A) in an international context. The M&A serves as a natural experiment of the change in the companies' structure when the newly acquired target becomes a subsidiary in the enlarged conglomerate. The debt-to-asset ratio of the target is positively correlated with the statutory corporate tax rate in its country. The tax incentives to shift debt related to the differences in size, tangible assets and profitability between the target and acquirer are economic significant, supporting the tax-based trade-off theory. The net operating loss carry forwards, particular in the case of unrestricted loss compensation when the target is taken over, have a crowding out effect on leverage. The use of holdings by financial acquirers to take over companies, particularly loss making ones, in cross-border transactions has a positive effect on targets' leverage in addition to the trade-off theory based debt-shifting incentives. The research complements previous studies that focused on pure tax effects in M&As by considering the interaction with tax-related factors, such as holding structures and loss carry forwards in an international context, and by advancing the modeling of tax incentives according to the trade-off theory.
Book Synopsis The Role of Taxes in Acquisitions by : Florence Reardon Kirk
Download or read book The Role of Taxes in Acquisitions written by Florence Reardon Kirk and published by . This book was released on 1988 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysts' Interpretation and Investors' Valuation of Tax Carryforwards by : Eli Amir
Download or read book Analysts' Interpretation and Investors' Valuation of Tax Carryforwards written by Eli Amir and published by . This book was released on 1998 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Planning for Corporate Acquisitions by : George Brode
Download or read book Tax Planning for Corporate Acquisitions written by George Brode and published by . This book was released on 1997 with total page 1246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Aspects of Acquisitions and Mergers by : Philip Cooke
Download or read book Tax Aspects of Acquisitions and Mergers written by Philip Cooke and published by Springer. This book was released on 1983-10-31 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of country studies by various contributors dealing in a comparative way with the taxation and other related aspects of acquisitions and mergers, both at the domestic level and cross-frontier. Includes general report and country reports on Belgium, Canada, Denmark, France, Germany, Ireland, Italy, Netherlands, Spain, United Kingdom and United States of America.
Book Synopsis Tax Loss Carry-overs as a Factor in Corporate Acquisitions by : Kenneth Lee Bailey
Download or read book Tax Loss Carry-overs as a Factor in Corporate Acquisitions written by Kenneth Lee Bailey and published by . This book was released on 1957 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Strategies for Corporate Acquisitions, Dispositions, Financings, Joint Ventures, Reorganizations, and Restructurings by :
Download or read book Tax Strategies for Corporate Acquisitions, Dispositions, Financings, Joint Ventures, Reorganizations, and Restructurings written by and published by . This book was released on 1997 with total page 1276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effective Tax Strategies for International Corporate Acquisitions by : John Karls
Download or read book Effective Tax Strategies for International Corporate Acquisitions written by John Karls and published by Kluwer Law International. This book was released on 1992 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book summarizes the essential information which professionals and corporate strategists require to identify issues for investigation when evaluating a merger or acquisition in any of 36 major trading countries. The book's presentation facilitates comparisons of the treatment of acquisitions in the different countries. In addition, it provides insight to the effects that the `White Paper' has on such areas as administration requirements, customs valuation, tax allocations, double taxation and intercompany pricing. Each country is discussed in a separate chapter written by an Ernst & Young tax executive practicing in the country. Each chapter describes: the relative advantages of branch, joint venture, partnership and corporate structures. The tax treatment of share versus asset purchases, tax loss carryovers and corporate groups. Investment incentives. Financing aspects, including local participation requirements and the deductablity of interest.
Book Synopsis Corporate Taxes and Financing Methods for Taxable Acquisitions by : Dan S. Dhaliwal
Download or read book Corporate Taxes and Financing Methods for Taxable Acquisitions written by Dan S. Dhaliwal and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the influence of corporate taxes on U.S. firms' financing methods for taxable acquisitions of 100 percent of a target corporation's stock. We conduct tests of acquirer firms' use of debt or internal funds as the funding source for these acquisitions over the period 1987-1997. Our results provide the first empirical evidence that U.S. firms' use of debt to fund acquisitions significantly declines as foreign tax credit limitations reduce the marginal tax benefits they receive from borrowing. This finding is consistent with earlier speculation that U.S. foreign tax credit provisions could materially affect the capital costs of U.S. companies in debt-financed acquisitions. We also find that these firms are generally high-tax rate corporations whose financing choices are not significantly influenced by whether they acquire target-firm tax loss carryovers. Our findings contribute to the accounting literature on the influence of taxes on the structure and financing of corporate acquisitions.
Author :United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures Publisher : ISBN 13 : Total Pages :192 pages Book Rating :4.3/5 (121 download)
Book Synopsis Carryover of Net Operating Losses and Other Tax Attributes of Corporations by : United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures
Download or read book Carryover of Net Operating Losses and Other Tax Attributes of Corporations written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures and published by . This book was released on 1985 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Indirect Taxes and the Income Tax Act on Corporate Valuation in Mergers and Aquisitions by : Philip Kweza
Download or read book The Impact of Indirect Taxes and the Income Tax Act on Corporate Valuation in Mergers and Aquisitions written by Philip Kweza and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: When mergers and acquisitions are conducted, valuation plays an important role in establishing a fair market value (FMV) of a target company. A number of variables including direct taxes are considered during the valuation process. This study looks at the impact of indirect taxes on the valuation result of target companies involved in mergers and acquisitions. Target companies considered for this study were those from different industries that were involved in mergers and acquisition transactions in 2004/2005 period, had at least three years of financial information available and had paid capital gains tax (CGT), an indirect tax, following a successful conclusion of the transaction. Research showed that there is likelihood that valuation result of target companies involved in mergers and acquisitions is significantly different when valuation included CGT compared to when valuation excluded CGT. Furthermore, considerable savings, implying higher ROI, could be realized should corporate acquirers and private equity factored in the effect of indirect taxes on FMV of target companies especially in industries where there are considerable under-valued operating assets. Effective tax rates can be determined for different industry groups and they can be mathematically be modelled with fair accuracy.
Book Synopsis 107-2 Committee Print: Tax Expenditures, Compendium of Background Material on Individual Provisions, S. Prt. 107-80, December 2002, * by :
Download or read book 107-2 Committee Print: Tax Expenditures, Compendium of Background Material on Individual Provisions, S. Prt. 107-80, December 2002, * written by and published by . This book was released on 2003 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Creating Value Through Corporate Restructuring by : Stuart C. Gilson
Download or read book Creating Value Through Corporate Restructuring written by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2001-08-07 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is a collection of case studies illustrating real-world techniques, implementation, and strategies on corporate restructuring. They examine the numerous companies and trillions of dollars involved in corporate restructuring since the 1980s.
Author :United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management Publisher : ISBN 13 : Total Pages :548 pages Book Rating :4.:/5 (327 download)
Book Synopsis Staff Recommendations to Revise Subchapter C by : United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management
Download or read book Staff Recommendations to Revise Subchapter C written by United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management and published by . This book was released on 1986 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wiley GAAP 2015 by : Joanne M. Flood
Download or read book Wiley GAAP 2015 written by Joanne M. Flood and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 1496 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Wiley GAAP 2015 contains the most comprehensive coverage of all GAAP pronouncements in a single volume, providing professionals with a complete reference to the entire GAAP hierarchy. This new edition includes the latest updates to the standards, along with AICPA ASEC statements of position and a comprehensive cross-reference of accounting topics to the new FASB codification system. All pronouncements are fully explained in detail, including terminology, and practice exercises demonstrate real-world application. Each chapter includes a discussion of perspectives and issues, sources of GAAP, definitions, concepts, rules, and examples, with specific appendices where applicable. This useful guide contains more examples and illustrations than any other GAAP reference, and all original pronouncements are referenced to the FASB Current Text. GAAP is constantly being updated, and users require expert interpretation and explanation of relevant principles with every new pronouncement. This book provides clear, user-friendly guidance, including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, and AICPA Statements of Position and Accounting Interpretations."--
