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Author: Tony Elgood
Publisher: CCH
ISBN: 9780808092421
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
CCH's new Tax Function Effectiveness addresses the unique challenges of tax function departments. The tax function's objectives should themselves be driven by what is happening in the business and the wider business and regulatory environment.
Author: Tony Elgood
Publisher: CCH
ISBN: 9780808092421
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
CCH's new Tax Function Effectiveness addresses the unique challenges of tax function departments. The tax function's objectives should themselves be driven by what is happening in the business and the wider business and regulatory environment.
Author: Sabrina Chi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The complexity and frequent changes of multi-jurisdictional tax requirements generate a demand for a robust supporting information environment. If a firm's information technology (IT) environment is not able to handle these tax complexities, that inability increases the risk of errors in the firm's financial accounting for income taxes and the risk of ineffective tax avoidance strategies. We initially investigate the relation between IT-related material weaknesses (MWs) and tax-related MWs and find that having an IT-related MW is associated with a higher probability of having a tax-related MW. We then examine whether the quality of a firm's IT environment influences its tax avoidance effectiveness. In addition, we find firms that restate their financial statements are more likely to disclose IT-related and tax-related MWs in advance of the year they announce that they must restate. We also show that having an IT-related MW hinders tax avoidance and that firms having a CFO with IT expertise or receiving the Most Admired Knowledge Enterprise award are also positively associated with tax avoidance. Our results are consistent with the idea that when firms have higher quality IT environments, they are more likely to have more effective controls over the tax function and similarly their tax avoidance efforts are more effective.
Author: David I. Fisher
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 60
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Book Description
Author: David I. Fisher
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Daniel Lynch
Publisher:
ISBN: 9781303864858
Category : Corporations
Languages : en
Pages : 86
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Book Description
This study investigates the effect of increases in firm-level investments in the corporate tax function to address financial reporting concerns on the magnitude and timing of firm's tax avoidance. I exploit the novel setting of the remediation of tax-related material weaknesses in internal control (MWs) as a shock that motivates firms to increase investments in the corporate tax function. I examine the impact of increases in these investments on the magnitude and timing of future payoffs in the form of increased tax avoidance. I find no evidence of increases in tax function investments contemporaneously impacting tax avoidance. However, I do find that investments in the income tax function are associated with greater levels of future tax avoidance. Specifically, I find firms making investments in year t have 4-8 percentage point lower 3-year cash and GAAP effective tax rates (ETR) measured at time t +1 to t +3 compared to their industry peers. Descriptive results suggest the primary drivers of this increase in future tax avoidance are lower foreign and state tax expense. I also hand-collect internal control disclosures to investigate how firms remediate tax-related MWs. The results suggest the most common types of investments are in outside consulting and new personnel, including hiring a new tax director. I find that both external and internal tax function investments are positively associated with future tax avoidance, with no differential impact on future ETRs. Results also indicate that risk, complexity, and a lack of resources are predictors of engaging an external service provider. These results demonstrate the magnitude and timing lag of payoffs on tax function investments and illustrate how strengthening internal controls can improve firm performance via increased tax avoidance. -- Abstract.
Author: Nevia Čičin-Šain
Publisher: Linde Verlag GmbH
ISBN: 3709412587
Category : Law
Languages : en
Pages : 541
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Book Description
An in-depth analysis of the specific aspects of justice, equality and tax law "Justice, Equality and Tax Law" is a topic that is both old and new at the same time. Even if the society changes, the demands that tax needs to be just and equal seem to be immutable. What changes, of course, is the perception of the content of those demands. International taxation post-BEPS has been fraught with new challenges that warranted urgent responses. These challenges were mainly provoked by the unprecedented rise of the digital economy which truly marked a change in the way business is conducted, how value is created, and how goods and services are produced and consumed. Digitalization, in turn, had repercussions on all aspects of taxation - direct taxation, indirect taxation, and even tax procedures. For instance, the quest for more justice and equality in profit taxes was the reason why, in October 2021, a historical deal based on a two-pillar solution to address the tax challenges arising from the digitalization of the economy was negotiated within the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting and agreed upon by 137 member countries. It was also the motive behind the shift from a typical vendor collection model to an intermediary collection model supported by centralized registration points in indirect taxes, notably the VAT/GST. Abundant data from the European Union or the OECD signalized an ever-increasing gap between expected VAT revenues and VAT actually collected, making it obvious that the classical system of VAT/GST collection was unable to respond to challenges posed by the digital economy. Therefore, new solutions based on the participation of digital platforms as intermediaries had been introduced. Finally, new technologies, such as blockchain, paved new avenues in enhancing tax compliance. In this context, this volume entitled "Justice, Equality, and Tax Law" contains not only a selection of the best master ́s theses of the full-time LL.M. programme in 2021/2022 but also represents an in-depth analysis of various aspects of this evergreen topic.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264424083
Category :
Languages : en
Pages : 355
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Book Description
This report is the ninth edition of the OECD's Tax Administration Series. It provides internationally comparative data on aspects of tax systems and their administration in 59 advanced and emerging economies.
Author: Rebecca Zarutskie
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
This paper reconsiders the effects of taxes on firms' organizational form choices when there are differences in the convexity of firms' personal and corporate tax functions and when firms can choose the riskiness of their projects. Deadweight losses can occur when a firm chooses to be a corporate entity rather than a non-corporate entity in response to taxes and vice versa. This first type of tax distortion has been largely ignored in previous research. I provide evidence that this first type of distortion is occurring by examining the tax returns of a sample of S and C corporations. This evidence casts doubt on past estimates of the deadweight loss of the corporate tax.
Author: Arnold J. Olenick
Publisher:
ISBN: 9780130049117
Category :
Languages : en
Pages : 321
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Book Description
Author: Myron S. Scholes
Publisher:
ISBN: 9781292065571
Category :
Languages : en
Pages : 528
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Book Description
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.
