Earnings Management to Influence Tax Policy: Evidence from Large Malaysian Firms

This study investigates the link between effective tax rates (ETR) and earnings management in a non‐Western context. It examines the use of accounting choice by Malaysian firms in response to an anticipated change in tax policy. We predict and find that large Malaysian firms with low effective tax rates decrease book income prior to a reduction in corporate tax in order to influence tax policy. Our empirical results are consistent with prior evidence in the US, that firms use accounting choice to realize economic objectives. The Malaysian evidence suggests that the result of a positive association between ETR and earnings management can be generalized outside the US context.     

新收入准则对房地产行业的税务影响

财政部在2017年修订了新收入准则,这一举措,对企业和行业产生了非常大的影响。经过修订之后的新收入准则,不仅在会计信息的可比性方面得到了提升,同时对于收入确认时点和收入金额计量这两个方面也带来了一系列的税法和会计间差异。针对房地产行业比较普遍的业务场景,论文对新收入准则下产生的房地产行业的税会差异,还有在增值税、企业所得税以及土地增值税这三个方面产生的作用展开分析。     

R&D INTENSITY AND THE EFFECTIVE TAX RATE: A META-REGRESSION ANALYSIS

We apply meta-regression techniques to provide a quantitative review of the empirical literature on how research and development (R&D) expenses affect the effective tax rate (ETR). R&D expenses relate to a well-accepted profit shifting channel, strategic placement of intellectual property within a multinational entity. Using a unique hand-collected data set, we add a new perspective to the current base erosion and profit shifting (BEPS) state of research and debate, in three ways: First, observing that primary studies report mixed evidence on how R&D expenses affect ETR, we provide a consensus estimate for this effect. Second, we consider this effect in more detail by separating a tax accounting effect and a profit shifting effect, which to our knowledge has not yet been investigated. We detect that one-third of the R&D effect on the ETR is due to the tax accounting effect and could be mitigated via book-tax conformity. We further find that 10% of the profit shifting effect can be traced back to R&D tax credits. Third, our meta-regression reveals factors that are possible sources of variation and bias in previous empirical studies.     

Steuern und Risikobereitschaft in Modellen irreversibler Investitionen

This paper provides an overview of the literature on the influence of taxation on investment behavior under uncertainty, especially under the real options paradigm. We analyze the impact of taxation on risk-taking under irreversibility. Extending the existing literature we integrate a simple tax system into a real option model. Under irreversibility and risk neutrality, raising the tax rate can either increase or reduce risk-taking. Referring to combinations of volatility and tax rate it is possible to identify conditions for an unambiguous influence of taxes on risk-taking. Numerical simulations indicate that raising the tax rate increases risk-taking under low volatility. Implementing a final withholding tax on capital income tends to reduce risky investment. Our findings confirm the well-known results under certainty and extend them with respect to uncertainty, irreversibility, and risk-taking.     

解读新会计准则——所得税

新会计准则规定所得税会计处理采用资产负债表债务法,确立了会计利润与应税所得的适当分离,明确了暂时性差异的概念,与旧准则相比更完整、更规范、更符合现代会计理论和原则。     

盈余管理、审计费用与所得税会计政策选择——基于沪深A股上市公司年报数据的实证分析

本文以2003～2005年沪深A股上市公司年报数据为依据,分析了所得税会计核算方法选择与盈余管理程度、审计费用水平之间的关系。研究发现:在我国现行的应税收益-会计收益的差异水平下,应付税款法与纳税影响会计法核算的总体绩效评价指标、盈利预测误差程度均没有显著差异;而采用纳税影响会计法的公司,其盈余管理程度、审计费用水平(“簿记成本“的替代变量)均显著高于采用应付税款法的公司,说明盈余管理与薄记成本是影响所得税会计政策选择的重要因素。     

基于税基差异分析的企业所得税与会计制度协调与对策

所得税法与会计制度的差异是由税法目标与会计目标的分离所决定的,比较、分析、研究二者间的差异亦具有十分重要的意义。本文从理论上归纳出会计制度与企业所得税法间的差异,探讨了企业所得税及其与会计制度差异存在的问题,并对所得税改革与会计制度协调提出政策性建议。     

探析中小企业企业所得税的税收筹划

在市场经济条件下,税收筹划对企业的发展具有重要意义。中小企业应潜心钻研《企业所得税法》,用好政策给予的优惠条件,对企业进行纳税筹划。企业进行企业所得税税收筹划时,一方面可利用所得税优惠政策及准予扣除项目的限额进行税务筹划,另一方面可利用会计处理方法对企业纳税所得额进行调整。     

探析中小企业企业所得税的税收筹划

在市场经济条件下,税收筹划对企业的发展具有重要意义。中小企业应潜心钻研《企业所得税法》,用好政策给予的优惠条件,对企业进行纳税筹划。企业进行企业所得税税收筹划时,一方面可利用所得税优惠政策及准予扣除项目的限额进行税务筹划,另一方面可利用会计处理方法对企业纳税所得额进行调整。     

Factor substitution and taxation in a finance constrained economy

In this paper, we examine the effects of constant-rate factor taxation on macroeconomic stability in the Woodford (1986) model. Our focus is on how the degree of factor substitution, as measured by the elasticity of factor substitution (EOS) in production, affects different balanced-budget tax rules. Analytically, we show that indeterminacy can occur under capital income taxation only when the EOS is very low, whereas indeterminacy under labor income taxation is not subject to the EOS restriction. This finding is robust when we tax all of the factor incomes with equal rates. Thus, in terms of macroeconomic stability, taxing capital income is preferred to taxing labor income.     

浅析固定资产涉及新企业所得税业务及会计处理

文章结合新会计准则及新企业所得税法,对新政策下固定资产主要涉及新企业所得税业务及会计处理进行了论述。     

个人所得税纳税筹划的必要性与可行性

要合理避税,就必须对个人纳税进行筹划。本文对个人所得税的相关规定和个人所得税筹划现状进行研究,分析了个人所得税筹划的必要性,从最大限度给员工交纳住房公积金或社会保险费、发放通评补贴分种收入、通过集体福利分流收入、工资薪金与劳务报酬转化、单独列支项目、某些单位采用年薪制等6个方面提出了工资薪金个人所得税纳税筹划的措施;从最大限度将一些收入转化为费用列支、适时少计费用、将资本性支出转为收益性支出、采用拆借方法、采用融资租赁方式等5个方面提出了个体工商户个人所得税纳税筹划的措施。     

How Will the Court Decide? – Tax Experts’ versus Laymen's Predictions

We conduct a survey of German tax professionals (tax advisors and revenue agents) and laymen to examine whether tax experts more accurately forecast the outcomes of five real cases from the German Federal Fiscal Court. With an average of 2.39 correct predictions among experts and an average of 2.49 correct predictions among laymen, our results reveal no significant difference in forecasting accuracy between the two groups. Additionally, neither general nor task-specific tax expertise increases the experts’ forecasting accuracy. This unpredictability of tax court decisions indicates that accounting rules and taxpayer penalties that rely on accurate predictions of tax court decisions may need to be re-evaluated. Moreover, our results indicate the existence of two types of ‘advisor bias’. First, tax advisors exhibit a significantly higher level of overconfidence in comparison to other experts (i.e. revenue agents) and laymen. In particular, they believe that they correctly predict, on average, 1.52 more cases than they actually do. Second, we find some evidence indicating that tax advisors acting as client advocates form stronger appeal recommendations than revenue agents.     

新会计准则下所得税费用的核算

新会计准则的颁布,对所得税费用的核算产生了巨大的影响,新准则内容的变化使所得税处理也相应发生变化,所得税费用确认和计量的原则、方法也有较大变更。新准则所得税会计出现的许多新观点,是会计实务的新发展,也更加贴近了现代社会经济发展的要求。     

An Experiment in Fair Value Accounting: UK Investment Vehicles

Abstract

We use the British real estate and investment fund industries as experimental settings where historic cost (HC) and fair value accounting (FVA) can be compared. Both industries have the majority of their assets marked to market and hence the difference between the two accounting systems is profound. However, as the valuation of real estate is arguably more subjective than that of investment funds, we are able to contrast fair value accounting in a near ideal setting with one where it remains important, but where valuation difficulties may permit bias. As this distinction is incorporated in the recently issued SFAS 157, which also formed the basis of the IASB's relevant discussion document, the results of our study may be particularly timely. As expected, we find that fair value income is considerably more value relevant than historic cost income. However, in the presence of changes in FVA balance sheet values, income measures become largely irrelevant. This implies that there is no obvious advantage from adopting FVA income accounting if FVA balance sheet values are available to the user. Furthermore, FVA for our real estate sample is considerably less value relevant than for the investment companies and the evidence for this sample, if not conclusive, is consistent with earnings management. We interpret these results as confirming that fair values are highly relevant and largely unbiased where the values are unambiguous. Where valuation is ambiguous, which will normally be the case, value relevance will be lower and biased accounting may be revealed.     

小企业会计准则与企业所得税法差异分析

本文从探究会计与税收关系的角度出发,分析我国企业所得税法与小企业会计准则产生差异的具体表现,并解释差异形成的具体原因,旨在梳理出差异协调的总体思路,减少小企业纳税负担和国家的征税成本,促进我国经济持续健康快速发展,发挥出小企业在国民经济中的重要作用。     

资产负债表债务法突破长期股权投资税务差异瓶颈分析

长期股权投资业务会计和税务对收益的规定有很大的差别,非一般意义上的时间性差异和永久性差异,运用传统递延法和债务法有局限性。随着会计环境的改变,资产负债观逐渐取代了收入费用观,衍生出资产负债表债务法确认暂时性差异,我国也在所得税准则中提出运用此方法。本文对资产负债表债务法如何对传统方法在长期股权投资运用的局限性进行改善方面进行了分析。     

Nominal interest rate policy rules and the feasibility of real interest rate control

In this paper the author builds a financial market model to demonstrate that policy aimed at reducing the variance in nominal interest rates reduces the information content of these variables. This has the undesirable effect of destabilizing real interest rates. The researcher demonstrates that nominal interest rate policy rules stabilize the component of the variance in the ex ante real interest rate attributable to the variance in the nominal rate. The variability of the expected inflation rate can, however, be increased by such policy rules, making the net effect of a nominal interest rate policy on the variance in the real interest rate ambiguous.     

Corporate income taxation of multinationals and unemployment

Within a two-country model with involuntary unemployment, this paper investigates corporate income taxation under separate accounting versus formula apportionment. In contrast to separate accounting, under formula apportionment the corporate tax policy causes a fiscal externality that results from unemployment. This externality is the highest when the apportionment formula contains the payroll factor only. It is minimized for the pure sales (property) formula, if the substitution elasticity is low (high). The unemployment externality tends to compensate other externalities such that tax rates become inefficiently low. The deviation from the efficient tax policy is minimized when the apportionment formula contains the sales factor only.     

费用化成本问题:基于新准则费用要素的思考

我国新的企业会计基本准则与原会计基本准则、国际会计准则在与费用要素相关的内容的规定上有所不同。会计基本准则中费用要素是会计报表要素之一,利润表中的费用要素是费用化成本,包括合规的正常费用和非常费用及违规费用。企业的全部费用与全部收入相配比确定的经营成果是期间成果。将“损失”项列入费用要素有利于提供完整的分类信息,本文对此进行了探讨。