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Journal articles on the topic 'Tax management of the bank'
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1
Hall, Curtis M., and Stephen J. Lusch. "Strategic Cost Shifting and State Tax Minimization." Journal of Management Accounting Research 30, no. 1 (February 1, 2017): 55–72. http://dx.doi.org/10.2308/jmar-51699.
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ABSTRACT In this study, we predict and find that multistate bank holding companies strategically allocate costs among their subsidiary banks to minimize tax. In particular, we find that high tax subsidiary banks report higher costs than low tax subsidiary banks within the same bank holding company. Additional tests provide evidence of cost shifting rather than operational differences among states. In particular, we find that high tax subsidiary banks of multistate bank holding companies report higher costs than single-state banks in the same high tax state. Our study provides a unique contribution to the cost allocation and tax management literature by directly linking tax reduction incentives to cost allocation and documenting an alternative type of state tax-minimization strategy in the banking industry. JEL Classifications: M41; H25; H71; G21.
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Hollingsworth, Danny P., and John T. Rose. "Tax Reform And Bank Asset Quality: Did 1986 Tax Law Changes Contribute To Banks Loan Problems?" Journal of Applied Business Research (JABR) 11, no. 4 (September 13, 2011): 15. http://dx.doi.org/10.19030/jabr.v11i4.5843.
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The escalation of bank loan losses in the mid/late 1980s, attended by a marked decrease in banking industry profits and an increase in bank failures, has raised numerous questions about the factor contributing to these events. The present study continues this inquiry by examining the effects of the Tax Reform Act of 1986 (TRA86) on the quality of banks assets in the late 1980s. Specifically, the study seeks to attribute changes in bank asset quality following enactment of TRA86 to 1) the two major provisions of the law targeted at banks, namely, interest expense allocable to tax-exempt obligations and the tax reserve for bad debts, particularly bad debts of large banks, along with 2) the pre-TRA86 level of real estate loans that were devalued by other provisions of the statute. Using alternative measures of asset quality, a single-equation regression analysis was applied to a sample of 205 large commercial banks. Empirical results indicate some linkage between TRA86 and changes in bank asset quality during the late 1980s, though not in all areas examined.
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Nasser, Haider Kathem, Ghaith Arkan Abdullah, and Mohammed Hashim Hammood. "The Extent of the Practice of Iraqi Banks to Manage Profits Using the (LLp it) Model and Its Reflection on the Tax Base, A Case Study of A Sample of Iraqi Private Banks Listed in The Iraqi Stock Exchange." Journal of Economics and Administrative Sciences 28, no. 131 (March 30, 2022): 223–37. http://dx.doi.org/10.33095/jeas.v28i131.2247.
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The research aims to identify the extent to which Iraqi private banks practice profit management motivated by reducing the taxable base by increasing the provision for loan losses by relying on the LLP it model, which consists of a main independent variable (net profit before tax) and independent sub-variables (bank size, total debts to total equity, loans granted to total obligations) under the name of the variables governing the banking business. (Colmgrove-Smirnov) was used to test the normal distribution of data for all banks during the period 2017-2020, and then find the correlation between the main independent variable sub and the dependent variable by means of the correlation coefficient person, and then using the multiple regression model to find the effect between the research variables according to the equation of the LLP it model for a sample of three banks (the Commercial Bank of Iraq, the Bank of Baghdad, the Ashur International Bank) based on a time series extending from (2017-2020). The researchers reached the most important conclusions :The possibility of using the LLP it model on Iraqi banks to reveal the practice of profit management and there is a significant correlation between the net profit before tax and the provision for loan losses. The researchers recommended the most important recommendations: Conducting continuous tests to detect banks that practice earnings management for the purpose of reducing the tax base, the necessity of using modern tools and methods (LLP it) by the tax administration to limit the practice of profit management in order to reduce the tax base
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Godswill, Osuma, Ikpefan Ailemen, Romanus Osabohien, Ndigwe Chisom, and Nkwodimmah Pascal. "Working capital management and bank performance: empirical research of ten deposit money banks in Nigeria." Banks and Bank Systems 13, no. 2 (June 18, 2018): 49–61. http://dx.doi.org/10.21511/bbs.13(2).2018.05.
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Working capital management is germane for the success of the banking industry in Nigeria, especially the current state of the sector, which is engulfed with the effect of the global decline in oil price that has resulted in non-performing loans, deterioration of the bank asset quality, laying-off of staff amongst others. This is one of the reasons why the profitability of the banking sector deeply depends on the efficient management of a bank’s working capital. Therefore, the objective of this study is to examine how profitability of banks can be enhanced through the working capital management. To empirically carry out the analysis, panel data which consist of ten (10) deposit money banks in Nigeria for seven years (2010–2016) employing the panel fixed effect, panel random effect and the pooled OLS for the two models, which were used as proxies for bank profitability, which includes return on asset (ROA) and return on equity (ROE) to examine the best measure for bank profitability, with the indicators of working capital; net interest income, current ratio, profit after tax, and monetary policy rate. Results of the study showed that working capital management has a significant effect on the profitability of the selected banks and that return on asset is a better measure for bank profitability. Therefore, the study recommends that there should be a periodic review of the minimum capital base of the Nigerian deposit money banks so as to mitigate the effects of inflation and inculcate the consequence of time value of money, because the purchasing power of one (₦1) naira or one ($1) dollar today would not be sufficient to purchase what it can purchase today for tomorrow.
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Allen, David S. "Industrial Revenue Bonds: Tests Of The Bank Arbitrage Hypothesis, The Miller Hypothesis, And Segmentation Of The Tax-Exempt Bond Market." Journal of Applied Business Research (JABR) 11, no. 2 (September 21, 2011): 110. http://dx.doi.org/10.19030/jabr.v11i2.5881.
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This paper considers alternative hypotheses that have been set forth to explain the relative yields on taxable and tax-exempt securities: the Bank Arbitrage Hypothesis, the Corporate Tax-Rate Hypothesis, and the Market Segmentation Hypothesis. The empirical results indicate support for the Bank Arbitrage Hypothesis for short maturities, and the modified Corporate Tax-Rate Hypothesis for long maturities. They also indicate strong evidence of market segmentation among tax-exempt securities of differing maturities. Specifically, commercial bank demand for tax-exempt securities has a significant effect on the yield spread for short and intermediate maturities, but no such effect is observed for long maturities.
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Čeponis, Paulius, Marius Kušlys, and Tadas Šarapovas. "The Impact of Bank Tax on Lending Margin." Engineering Economics 32, no. 3 (June 30, 2021): 210–20. http://dx.doi.org/10.5755/j01.ee.32.3.27208.
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In February 2016, Poland implemented a bank tax paid by monetary financial institutions based on the assets of their balance sheets. Two years later, the same tax was proposed in Lithuania. Critics of the tax claimed that the tax burden in Poland shifted to customers by increasing the lending margin, and were this tax to be implemented in Lithuania, negative economic consequences would be likely. The aim of this paper is to estimate the potential impact of the bank tax on the lending margin in Lithuania by evaluating the case of Poland. Currently, research studies do not provide a definitive answer about the effects of bank taxation, mainly because various types of bank tax exist. Further research of the bank tax implemented in Poland could provide more information about the consequences of the bank tax applied to the assets of financial institutions. Also, a previous investigation of Poland’s bank tax was limited by a short time series. Currently, a more accurate analysis could be done by using data over a longer period of time. Following previous research, difference-in-differences estimation is used to evaluate the impact of the policy change and uses data from the period 2012 to 2020. The results of the analysis are significant and show that the bank tax had a positive impact on lending margins in Poland by an average value of 0.39%. The descriptive analysis of the Herfindahl index shows that the banking sector of Lithuania is highly concentrated, implying that the tax burden would be shifted to bank customers by increased lending margins. In this way, the banking sector in Poland managed to avoid paying the levy by shifting the burden onto consumers. The same outcome is to be expected in Lithuania. The findings of the paper suggest that Lithuania should consider alternative ways of taxation since increased lending rates could have a negative effect on the overall economy of the country.
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Beatty, Anne, and David G. Harris. "Intra-Group, Interstate Strategic Income Management for Tax, Financial Reporting, and Regulatory Purposes." Accounting Review 76, no. 4 (October 1, 2001): 515–36. http://dx.doi.org/10.2308/accr.2001.76.4.515.
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In this study we examine whether banks owned by interstate multibank holding companies coordinate their security gains and losses to manage their tax, earnings, and capital management objectives. Specifically, we examine whether the realization of security gains and losses is related to the objectives of the individual bank, the consolidated group, or both. We find subsidiary banks manage their gain realizations not only to reduce their own state taxes, but also strategically to reduce their consolidated groups' tax expense. Specifically, members of consolidated banking groups shift gain recognition to lower-taxed group members and away from higher-taxed group members. In addition, we find evidence suggesting that banks realize security gains and losses to manage both their own and their groups' financial statement earnings.
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Filipova-Slancheva, Atanaska. "Automatic exchange of tax information: initiation, implementation and guidelines in Bulgarian context." Problems and Perspectives in Management 15, no. 2 (September 27, 2017): 509–16. http://dx.doi.org/10.21511/ppm.15(si).2017.04.
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The paper aims to introduce and clarify automatic exchange of tax information as a global and European Union initiative in order to curb tax evasion via cross-border tax avoidance, along with aggressive tax competition. It investigates the role of Organization for Economic Cooperation and Development (OECD) which developed Common Reporting Standard (CRS) and endorsed it in 2014. CRS is a framework for automatic exchange of tax information with the purpose to promote cooperation among various jurisdictions. For EU Member States, CRS is transposed by the amended EU Directive on Administrative Cooperation (DAC2). Bulgaria as a member state has transposed the Directive in the national law. This study examined automatic exchange of tax information (AETI) from Bulgarian perspective – historic development, legal framework, responsible and competent authorities and application of DAC2 and expectations for newly approved DAC3. In the study, Bulgarian financial institutions (banks) are examined, implementation status and how the challenge of AETI, including client information and data protection, are addressed. Primary data for banks are collected from publicly available sources (website of the respective bank), as company websites of top 5 Bulgarian banks were examined for information related to automatic exchange of financial information/tax information. Results show that major Bulgarian banks, within First Group in terms of assets, are initiating the process, internal due diligence and preparation for the new reporting requirements. General conclusion is that currently there are some critical issues to be addressed, new DAC3 might introduce higher challenges, as practical guidance is the solution.
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Anggia, Putri. "The Influence of International Tax Policy on the Indonesian Tax Law." Yuridika 35, no. 2 (December 26, 2019): 343. http://dx.doi.org/10.20473/ydk.v35i2.16873.
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By 2012, the Indonesia government had validated Law Number 9 of 2017. One of the content is finance information government access to the customer bank and to the taxpayer. The government has considerations. First of all, Government will be open the access limitation of banking automatically that is necessary for taxation. The second, Indonesia has committed to international agreements of taxation which is obliged to fulfill the commitment. The commitment is to participate in implementing Automatic Exchange of Account Information (AEOI). Based on the policy, several managements and flow process around the banking area changed. Moreover as the customer bank are affected. The registration for the customer bank have been starting since 2018. By the earlier 2019, the progress of the administration needed to be checked and to be evaluated. This paper tries to discuss this issue based on the academic point of view. Data were obtained through library research. The library research was done by documentary study by collecting and analyzing selected laws and regulations, books, articles, journals and other documents which were relevant to the research. All datas were analyzed qualitavely. The implication of this research brings up a new idea about the theory of bank secrets. Initially, it is consisted of two theories, namely are absolute and relative. Despite of the two, there is a big affect in theory and academic knowledge about the validation of the agreement Indonesia government.
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Kingston, Geoffrey. "Dracula in Charge of the Blood Bank." Economic and Labour Relations Review 22, no. 3 (November 2011): 27–44. http://dx.doi.org/10.1177/103530461102200303.
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The Harmer—Henry pension and tax review resulted in an increase in the common value of the single rate of Age Pension and Disability Support Pension from 25 per cent to 28 per cent of male total average weekly earnings. It also recommended a Resource Super Profits Tax that would have initially taxed mining ‘rents' at 36 per cent, on top of the pre-existing 30 per cent federal taxonprofits. These recommendations represent two sides of the same coin: higher federal spending alongside higher federal taxes. The pension rise is likely to reduce participation in the labour force. The proposed tax rise would discourage mining activity as miners considered their options to delay or abandon projects. There is a lot to like at the level of detail in the Harmer—Henry package, but future efforts to reform our tax-transfer system should focus on promoting saving and investment, including investment in human capital.
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Kohv, Keijo, and Oliver Lukason. "What Best Predicts Corporate Bank Loan Defaults? An Analysis of Three Different Variable Domains." Risks 9, no. 2 (January 25, 2021): 29. http://dx.doi.org/10.3390/risks9020029.
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This paper aims to compare the accuracy of financial ratios, tax arrears and annual report submission delays for the prediction of bank loan defaults. To achieve this, 12 variables from these three domains are used, while the study applies a longitudinal whole-population dataset from an Estonian commercial bank with 12,901 observations of defaulted and non-defaulted firms. The analysis is performed using statistical (logistic regression) and machine learning (neural networks) methods. Out of the three domains used, tax arrears show high prediction capabilities for bank loan defaults, while financial ratios and reporting delays are individually not useful for that purpose. The best default prediction accuracies were 83.5% with tax arrears only and 89.1% with all variables combined. The study contributes to the extant literature by enhancing the bank loan default prediction accuracy with the introduction of novel variables based on tax arrears, and also by indicating the pecking order of satisfying creditors’ claims in the firm failure process.
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Kovermann, Jost Hendrik. "Tax avoidance, tax risk and the cost of debt in a bank-dominated economy." Managerial Auditing Journal 33, no. 8/9 (September 3, 2018): 683–99. http://dx.doi.org/10.1108/maj-12-2017-1734.
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Purpose The purpose of this paper is to investigate whether tax avoidance has a positive or negative effect on firms’ cost of debt. It further investigates whether the implications for the cost of debt are different for tax avoidance and tax risk. Design/methodology/approach Based on a sample of 201 firms listed on Frankfurt Stock Exchange from 2009 to 2014, three tests are performed using pooled OLS regression. Controlling for numerous variables that have been found to influence the cost of debt, a first model examines the relationship between tax avoidance and the cost of debt. A second model examines the relationship between tax risk and the cost of debt and a third model interacts tax avoidance with tax risk. Findings The results show that tax avoidance has a negative effect on the cost of debt; however, tax risk increases the cost of debt. These results indicate that creditors generally view tax avoidance as positive and that tax avoidance is not regarded as inherently risky. Although tax avoidance is rewarded by capital markets with lower interest rates, tax risk contributes to higher interest rates. The effect of tax avoidance on the cost of debt depends therefore on the level of tax risk. Originality/value This paper contributes to two distinct strands of research: literature investigating the driving factors behind the cost of debt and literature investigating the consequences of firms’ tax avoidance activities.
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Niyazbekova, Sh U. "Foreign banks management in the context of a pandemic: problems and solutions." E-Management 3, no. 3 (November 20, 2020): 4–12. http://dx.doi.org/10.26425/2658-3445-2020-3-3-4-12.
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The article discusses the problems encountered by enterprises in the financial sector in the context of the COVID-19 pandemic. The paper gives examples of management actions of the largest banks in Italy, Brazil, South Korea, China, Portugal, Singapore, the USA, the Philippines and Russia. World Health Organization has advised the population to use contactless payments and reduce the turnover of banknotes to a minimum. The coronavirus has increased the desire of customers to use digital services, making it an urgent need. In fact, the pandemic has led to the fact that Bank customers, who are increasingly afraid to spend time in public places, should be able to conduct banking operations without physical interaction with Bank offices. By implementing fully digital remote customer service, banks must ensure that both routine and unique (one-time, specific) banking processes will be performed without loss or disruption. Under these circumstances, financial institutions will be required to disclose information about the impact of the coronavirus pandemic on their operations in financial statements based on the relevant disclosure standards (Generally Accepted Accounting Principles, GAAP and United States Securities and Exchange Commission, SEC). Disclosure of financial statements may include risk factors such as Fund depreciation, reduced liquidity, and other aspects.The downward trend in interest rates as required by governments and national banking regulators may affect the profitability of banks. Along with a General decline in business activity, this will lead to a decrease in Bank profits. Analysts’ concerns have already resulted in a sharp drop in the share prices of many firms, which creates another problem because some deferred tax assets, such as net operating losses (NOL), are not fully accounted for in the Bank’s regulatory capital requirements. National governments impose industry-specific tax requirements on capital market enterprises, but the challenges they will face when filing and paying direct and indirect taxes are likely to be similar to those faced by other industries.
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Sultan Obeidat, Mohammed Ibrahim. "The Validity of Modigliani-Miller Theorem at the Commercial Banking Industry of Jordan." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (June 1, 2021): 929–40. http://dx.doi.org/10.37394/23207.2021.18.88.
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The study objects for investigating whether the findings of Modigliani-Miller Theorem (1958-1963), are valid in the environment of listed commercial banks at Amman Stock Exchange. To achieve the objective of the study, data of 13 out of a total of 15 listed commercial banks, covering the period (2010-019), had been collected and tested, using descriptive statistics and the ordinary least square method. The analysis of the data and hypothesis testing leads to an existence of a significant positive impact of debt on the firm market value. Opposite to Modigliani-Miller theorem, the study finds that debt is relevant to the bank market value, and it has a positive significant on bank market value. The conclusion is not in conflict with the finding of Modigliani-Miller 1958, where the authors assumed free tax, while the commercial banks of Jordan are subject to tax. Therefore, the finding of the current study are consistent with the adjusted Modigliani-Miller 1963 theory. More studies taking into consideration different industries and different business environments are strongly recommended.
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Desta, T. S. "Consequence of loan loss provisions on earnings management behaviour: A study on the best African commercial banks." South African Journal of Business Management 48, no. 3 (September 29, 2017): 1–11. http://dx.doi.org/10.4102/sajbm.v48i3.31.
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This study aimed at analysing the relationship between loan loss provision (LLP) and earnings management in the African commercial banks. The study selected the 11 banks among the 32 best commercial banks as identified by the Global Finance Magazine in 2014. These 11 banks are available online in the Bureau van Dijk Bankscope data and helped observe 10 years (2004-2013, of which 2003 is the base) financial statements, which accounts 34.38% of the 32 best banks. Accounting data derived from 11 years audited financial statements were used; 110 bank-year observations. A two stage panel regression, partial and pairwise correlation, and independent t-test were applied in order to analyse the relationship between the discretionary LLP (DLLP) and earnings management. Accordingly, the study found that loan to deposit (LD), return on asset (ROA), and earnings before tax and provision (EBTP) significantly influence the DLLP. Besides, banks with high premanaged earnings and well-capital more indulge in the DLLP. The study supports empirical findings on income smoothing and external financing hypotheses, but not the capital management hypothesis. Finally, further research on this topic is recommended, among others, by taking relatively large bank-year observations.
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Cheong, Calvin W. H., Miin Huui Lee, and Marc Arul Weissmann. "Credit access, tax structure and the performance of Malaysian manufacturing SMEs." International Journal of Managerial Finance 16, no. 4 (March 30, 2020): 433–54. http://dx.doi.org/10.1108/ijmf-08-2019-0308.
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PurposeThis study investigates the effects of credit access and tax structures on the performance of Manufacturing SMEs in Malaysia.Design/methodology/approachThis study uses the dynamic panel system generalized method of moments, controlling for firm-specific as well as macroeconomic effectsFindingsThe paper finds that (1) debt funding is not conducive to SME performance; (2) access to non-bank credit sources and tax incentives support SME performance by lowering opportunity costs of riskier projects; (3) existing tax structures in Malaysia inhibit SME growth and encourage manipulation of accounts; and (4) investors in Malaysia prefer SMEs that are more conservative in their accounting and taxation practices.Research limitations/implicationsAccess to Malaysian SME data is restricted. Although robust methods are used, there is a chance that different conclusions may arise with a much larger sample.Practical implicationsThe findings provide clear direction in the discussion and enactment of new policies that support SME growth especially in support of non-bank credit sources instead of revising tax policies. The paper also contributes by providing guidance to future SME studies that are inhibited by limited access to data.Originality/valueSME-related studies on credit access and tax structures have often relied on traditional metrics (e.g. total amount of bank loans; tax expenses) to measure its impact on entrepreneurial/SME performance. Although relevant to the past, financial policies have evolved to embrace Industrial Revolution 4.0. This paper is a shift from the traditional by investigating the impact of new and innovative sources of funding such as incubators and crowdfunding. Also, since one cannot exist without the other, examining the joint impact of credit access and tax structures provides a more holistic view on policy-making, something prior studies have not addressed.
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Chatterjee, Chanchal, and Paromita Dutta. "Exploring the Linkage between Profits and Asset–Liability Management." Paradigm 20, no. 2 (December 2016): 131–42. http://dx.doi.org/10.1177/0971890716670707.
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The article uses panel data regression on a sample of 26 public sector and 20 private sector banks operating in India over the period 2004–2005 to 2012–2013 in order to empirically examine the relationship between profits and asset–liability (A–L) composition of Indian banks. The sample was initially split into public sector and private sector banks. Earning before tax (EBT) of public sector banks appear to be generated by all the assets under the asset portfolio while, in private sector banks, the EBT seems to be produced by loans and advances and deposits and placings to banks. From liabilities’ perspective, the ‘short-term funding’ appears to be the cheapest for both the bank groups. The sample was then split into high-profit and low-profit banks. The results show that, compared to the high-profit banks, low-profit banks experience higher rate of return on loans and advances, investments and fixed assets. The study does not find that high-profit banks always enjoy relatively cheaper cost of funding than low-profit banks.
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Sululing, Siswadi, Haruni Ode, and Mohammad Gifari Sono. "Financial Management Model Village." International Journal of Applied Business and International Management 3, no. 2 (December 20, 2018): 105–16. http://dx.doi.org/10.32535/ijabim.v3i2.163.
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This research aims to improve knowledge of the village head and village apparatus about administering and accounting of financial transactions using accounting model village village, this type of research is the research field to the villages of recipients the village Fund, the allocation of funds, and local tax and regional levies in the Regency of Banggai Central Sulawesi Province.
Sampling method was purposive sampling, while the analysis tools used are model villages, using accounting using public cash book, daily maid, cash book bank book, book, book inventory tax village, books supplies, books capital books, accounts receivable, and the book debts.
Results of the study consist of APB Village consists of income of the village, which is a fund transfer from the Central Government, i.e. the village Fund, and the allocation of funds and village tax areas and regional retribution from the local government as well as financial assistance from the Government the counties and provinces,while shopping the village consists of the 56th Government field shopping village, shopping areas of implementation of the development of the village, shopping areas of civic construction, shopping areas, community empowerment and unexpected expenditures. Accounting model villages will produce financial laporaan village consisting of APB Village, reports, reports on the realization of the budget, the early village-owned wealth report, balance sheet and notes to financial statements.
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BOCHKAREVA, Ekaterina Alexandrovna, Svetlana Valerievna KOZHUSHKO, Kamil Shamilievich KHAMIDULLIN, and Ekaterina Alexandrovna FARIKOVA. "Tax Responsibility of Banks for Non-Execution of Tax Authorities’ Decisions: Legislative Regulation and Law Enforcement Practice." Journal of Advanced Research in Law and Economics 10, no. 2 (March 31, 2020): 461. http://dx.doi.org/10.14505//jarle.v10.2(40).05.
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The research issue is to identify the shortcomings of legal management of tax responsibility of banks in case of their non-execution of tax authorities’ decisions, as well as to define the possible directions of improvement of legislation and law enforcement practice in this sphere. The aims and objectives of the research are as follows: (1) to analyze the provisions of Article 134 and Article 135 of the Tax Code of the Russian Federation, which establish the responsibility of banking organizations as participants of the fiscal relations and to analyze the application of provisions of these articles by judicial and tax authorities; (2) to identify the problems of bringing to responsibility credit banking organizations for their non-execution of tax authorities’ decisions; (3) to develop recommendations for improvement of legal regulation. The methods of the research include analysis, analogy, legalistic method and integrated interpretation. The results of the research are as follows. It has been justified that the sum of debt of a taxpayer, established to bring banks to legal responsibility under Article 134 of the Tax Code of the Russian Federation, shall not include the sums of fines and penalties, as the bank is not a real participant of legal relations ‘tax authority – taxpayer’ and is deprived of the right to appeal the sum, which serves as the basis for establishing the sum of fine.
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Taqdees, Muzayyab. "A case study of National Bank of Pakistan: From 2007 to 2016." Journal of Marketing and Information Systems 1, no. 1 (November 14, 2018): 12–14. http://dx.doi.org/10.31580/jmis.v1i1.148.
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National Bank of Pakistan is one of the largest commercial banks in the country. This case study is a general review of the managerial and financial aspects of the bank. The leadership structure and board size are considered as a variable of management side and pre-tax profit and earnings per share are used as financial variables. Some figures extracted from the annual reports are provided as the evidence of what happened in the respective year. From year 2007 to 2016 leadership structure of national bank of Pakistan change from dual leadership structure to non-dual and again to dual. Also in the past decade the bank hits its financial height in 2016 but it also touches the bottom in 2013. This review concluded that the developing country like Pakistan needs to have a strong judicial and regulatory authority. Also the non-dual leadership structure can be more profitable and board size should be at least average if not large.
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Yuliani, Sri, Faizatul Ansoriyah, and Ismi Dwi Astuti Nurhaeni. "The Development of Online-Based Hotel and Restaurant Tax: Advantages and Constraints in the Case of Pekalongan City." KnE Social Sciences 2, no. 4 (June 13, 2017): 251. http://dx.doi.org/10.18502/kss.v2i4.894.
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In the attempt to improve the quality of service to hotel and restaurant taxpayers and to avoid the evasion of local income tax, Pekalongan City Government through DPPKAD or Dinas Pendapatan, Pengelolaan Keuangan dan Aset Daerah (Local Income, Financial and Asset Management Service) introduced a Hotel and Restaurant Tax using online system. This research aims to identify problems and constraints in applying the online-based tax system and recommends steps to address the problems. This study surveyed the users of the system using purposive samplingof DPPKAD officers, hotel, inn, and restaurant owners, and bank as the service provider. The results identified the advantages of online-based Hotel and Restaurant Tax namely: reducing potential fraud; improved tax assessments; reducing administrative works in the recordingof Surat Pemberitahuan Tahunan (Annual Notification Letter). However, DPPKAD of Pekalongan City encountered some constraints: many taxpayers were not willing to calculate their own tax and had the DPPKAD to specify the tax amount; many restaurant owners were not willing to use cash register because they were afraid that it would increase their products’ selling price; exposure of taxpayers’ private financial records; 2) the preparation of infrastructure is inhibited because the taxpayers have not been willing to connect the cashier machine directly to the partner’s bank system,3) DPPKAD had not had human resource with the competency of examining the local tax.
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Septiani, Rinda, and Heru Tjaraka. "Insentif Pajak Memoderasi Pengaruh Book-Tax Differences Terhadap Trading Volume Activity." E-Jurnal Akuntansi 32, no. 2 (February 17, 2022): 3625. http://dx.doi.org/10.24843/eja.2022.v32.i02.p03.
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This study assesses the success of using internet banking using the DeLone & McLean (D&M) model with the aim of measuring the success of using internet banking technology. The research was conducted at Bank Rakyat Indonesia (BRI) Denpasar City with 150 internet banking users as respondents who were selected through accidental sampling technique. The test results show that the quality of information, the quality of information systems, the quality of service has a positive effect on the interest in using internet banking and the interest in using it has a positive effect on the net benefits. The implications of this research include two things, namely ensuring and improving the experience, quality of information, quality of service and user interest in the net benefits or net benefits of using internet banking. The high practical implication is that the interest in using internet banking can create net benefits for customers of PT Bank Rakyat Indonesia Denpasar City.
Keywords : Book-Tax Differences; Trading Volume Activity; Tax Incentives.
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Weber, Leonard J. "Ethics and the Political Activity of Business: Reviewing the Agenda." Business Ethics Quarterly 7, no. 3 (July 1997): 71–79. http://dx.doi.org/10.2307/3857314.
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In April of 1996, the Michigan Automobile Association made a $2500 campaign contribution to the Republicans in the Michigan House of Representatives. Three days later, the Republican-controlled House Tax Policy Committee approved a bill that would have reduced the state sales tax on a new car, based on the value of the trade-in, a bill supported by the automobile dealers. A few days after that, however, the Governor, also a Republican, threatened to veto that legislation. An executive of the auto dealers association called up the House Republication staff and asked for the $2500 contribution back. When informed that the check had been deposited, he told his bank to stop payment (Luke, 1996).
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Iheduru, Ngozi G., and Obioma O. Ajaero. "Tax Identification Number and Non-Oiuta Revenue: A Comparative Analysis of Pre and Post Tin Advanced Taxation Management (ACC 921)." International Journal of Accounting & Finance Review 3, no. 1 (October 11, 2018): 48–58. http://dx.doi.org/10.46281/ijafr.v3i1.30.
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Non-oil tax revenue constitutes an integral part of the total revenue of Nigeria. It is expected that the introduction of the Taxpayer Identification Number (TIN) will have a significant effect on total non oil tax revenue since more companies would be captured by the tax net. This paper therefore set out to empirically investigate the effect of TIN on non oil tax revenue through a comparative analysis of pre and post TIN years of 2000 to 2015. Data was collected from Central Bank of Nigeria (CBN) Statistical Bulletin. The study employed both descriptive and pairwise t-test statistical techniques for analyses with total non-oil tax revenue as the dependent variable while CIT, VAT and TET were the independent variables. Findings showed that there has been a significant increase in total non-oil tax revenue with the introduction of TIN. Also, revenue generated from CIT and TET after the implementation of TIN improved significantly. VAT revenue however, did not improve after the implementation of TIN. Recommendations include that the VAT base needs to be enlarged through electronic capture of all VATable persons.
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Stewart, Jim, and Cillian Doyle. "The measurement and regulation of shadow banking in Ireland." Journal of Financial Regulation and Compliance 25, no. 4 (November 13, 2017): 396–412. http://dx.doi.org/10.1108/jfrc-02-2017-0019.
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Purpose The purpose of this paper is to study financial vehicle corporations (FVCs) and other special purpose vehicles (SPVs) in Ireland. Design/methodology/approach The paper is based on a database of FVCs that are a central part of the shadow banking sector in Ireland. The database is derived from a European Central Bank (ECB) list of securities and from filings in Company Registration Office, Dublin. Findings Tax concessions are very valuable and has resulted in zero or close-to-zero effective tax rates. Although described as “bankruptcy remote”, FVCs/ SPVs in Ireland are associated with several banks that failed. Central Bank data are inconsistent with revenue data and have resulted in regulatory gaps. The main economic benefit to Ireland consists of payments to certain service providers. Research limitations/implications A complete population of FVCs/SPVs has not been used. Ownership of FVCs/SPVs has not been identified with consequent implications for identifying risk to the sponsoring firm or guarantor. Practical implications The study indicates data deficiencies in Central Bank data, with consequent implications for regulation and measuring the size of the shadow banking sector, and failure of FVCs/SPVs described as bankruptcy remote. Social implications The shadow banking sector has been a key source of instability and risk transference in the recent past. Research and understanding is vital to prevent a future occurrence. Originality/value There are no publicly available databases of individual FVCs/SPVs in Ireland. Hence, research on granular data is limited. The study develops a database derived from lists of securities published by the ECB. The study also relies on a database derived from company house records.
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Pesuth, Tamás. "Tax policy changes after the crisis. The rise of bank taxes." Society and Economy 37, s1 (December 2015): 157–72. http://dx.doi.org/10.1556/204.2015.37.s.10.
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Seldom does public attention follow taxation as it does now. As a result of the global economic crisis, due to the fiscal consolidations, taxation plays an increasingly important role within financial policy. The emergence and the extensive spread of taxes on the financial sector is one of the consequences of the global economic crisis. This paper deals with some theoretical connections of this change in taxation.
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Ting, Hsiu-I. "CEO gender, power and bank performance: evidence from Chinese banks." Journal of Enterprising Communities: People and Places in the Global Economy 15, no. 1 (March 1, 2021): 155–76. http://dx.doi.org/10.1108/jec-04-2020-0065.
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Purpose This study aims to investigate the relations between CEO gender, power and bank performance. First, this study examines the relation between CEO gender and power. Do female CEOs possess less power than male CEOs? As women reach the top, do they hold similar or even higher levels of power as men? Second, this study investigates the relation between the CEO gender and bank performance. How do female CEOs perform? Is the relation between gender and performance subject to CEO power? Design/methodology/approach This study uses the following three performance measures: ROA, pre-tax ROA and pre-provision profit over assets. This study follows Finkelstein’s (1992) classifications and adopt five variables to measure the four dimensions of CEO power: duality and compensation share measure structural power; ownership captures ownership power; number of functional areas measures the power of expertise; and elite education captures prestige power. Logit model, ordinary least squares regression and quantile regression methods are used in the analysis. Findings In a sample of Chinese banks, female CEOs are found to have similar power and performance as male CEOs. As women reach the top, they hold higher ownership and greater prestige power than men. Female CEOs even outperform male CEOs in non-state dominated banks. Female CEOs show their impact through their power: those with higher compensation shares or greater power are positively related to bank performance. Originality/value Overall, the results show that as women reach the top, they hold a higher level of power than men. As females break through the glass ceiling, they perform better than males. Moreover, female CEOs show their impact through their power. Female CEOs who overcome the barriers are less traditional and more self-directed than their peers.
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Szlęzak-Matusewicz, Joanna. "Tax risk in cash pooling agreements in polish enterprises." Management Theory and Studies for Rural Business and Infrastructure Development 36, no. 4 (November 3, 2014): 977–87. http://dx.doi.org/10.15544/mts.2014.092.
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Cash pooling is a service addressed to enterprise groups, which enables effective management of cash pooled on a bank account. In Poland, there is no normative definition of the cash pooling agreement, what is a source of the tax risk of qualifying such an agreement as a loan agreement. The consequence of the recognition of cash pooling as a loan agreement is an increase of the tax burden resulting from the application of the thin capitalisation rules (TCR). In 2013, such interpretation was presented by the Polish tax authorities. The aim of the article is to identify the tax risk in Poland in income tax issuing from the application of the TCR. Referring to the construction of the cash pooling agreement and the features of indirect financing and making appropriate analysis of tax law the author has shown that this interpretation is wrong
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Adegboye, O. D. "THE LIQUIDITY AND PROFITABILITY TRADEOFF OF COMMERCIAL BANKS IN NIGERIA." Open Journal of Management Science (ISSN: 2734-2107) 2, no. 2 (August 25, 2021): 17–26. http://dx.doi.org/10.52417/ojms.v2i2.250.
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This study used empirical facts and assessed the trade-off of profitability versus liquidity (and vice versa) for five commercial banks in Nigeria. Multivariate research design, regression analysis, Ordinary Least Square, and correlation coefficient approaches were used to apply quantitative methodologies to data collected. Amongst the population of twenty-two banks, Zenith, First, United Bank for Africa, Guaranteed Trust and Union Banks were chosen as case studies for this study using a purposive sample approach. Secondary data was gathered from their five-year annual reports, which were published between 2015 and 2019. The correlation coefficient was employed to test the hypothesis, which revealed that there was a statistically perfect correlation (positive and negative) between LA (loans), BA (bank advances), and MDI (marketable debt instruments) against PAT (profit after tax) and ROA (return on assets). Furthermore, since banks strive to maintain their current assets, the findings revealed that efficient liquidity management is a key determinant that may boost or impair a bank’s profitability. To avoid future insolvency and bankruptcy, this study recommends that these banks use contemporary and effective liquidity management strategies amid the current post-pandemic environment. In addition, while focusing on the same topic of research, interested scholars should make significant use of a broader data coverage area.
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Alzyadat, Jumah Ahmad. "Public Debt Management and Macroeconomics Policies Coordination: Evidence from Jordan." Revista Amazonia Investiga 9, no. 36 (January 29, 2021): 59–72. http://dx.doi.org/10.34069/ai/2020.36.12.5.
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This study aimed to analyze the effects of fiscal and monetary policies interactions on public debt in Jordan during (1970 – 2019). Using Vector Error Correction Model (VECM) derived from VAR (Vector Auto regression), and examine dynamic interactions between economic variables over time, by Appling Impulse Response Function, and Variance Decomposition. The results indicated that the fiscal policy instruments affect public debt in two different directions, the expansion of government expenditure positively affect public debt, while tax revenues reduce indebtedness. The monetary policy instruments affect public debt in the same directions, as the results indicated that the central bank in controlling money supply and managing interest rate helps the fiscal authority in reducing the public debt in Jordan. The results confirm the strongest impact of government expenditure on public debt in Jordan. The study recommends the necessity of rationalizing government expenditures and combating tax evasion. In addition, more coordination between fiscal and monetary policies.
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Ahmed Mareai Senan, Nabil, Aida Abdulaziz Ali Noaman, Borhan Omar Ahmad Al-dalaien, and Eissa A. Al-Homaidi. "Corporate social responsibility disclosure and profitability: Evidence from Islamic banks working in Yemen." Banks and Bank Systems 16, no. 2 (June 1, 2021): 91–102. http://dx.doi.org/10.21511/bbs.16(2).2021.09.
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This study aims to examine the influence of corporate social responsibility (CSR) disclosure determinants on profitability of Yemeni Islamic financial institutions. The empirical study was based on a balanced panel for twelve years from 2005 to 2016. Banks’ profitability is measured by four indicators such as return on assets (ROA), return on equity (ROE), profit after tax (PAT), and earnings per share (EPS), while corporate social responsibility, financial leverage, inflation rate, asset size, and age of Islamic banks are considered as independent variables. The results of this study with regard to ROA indicated that corporate social responsibility, asset size, inflation rate, and age of Islamic banks have a significant influence on profitability (ROA). With respect to ROE, the result indicated that financial leverage, asset size, and inflation rate are the most important variables affecting bank profitability (ROE). Concerning PAT, the outcome revealed that financial leverage and age of Islamic banks have a significant effect on profitability (PAT). Finally, the result with respect to EPS indicated that financial leverage, asset size, inflation rate, and age of Islamic banks have a significant impact on bank profitability (EPS). The result will be beneficial to scholars, investors, stakeholders, managers, and policymakers in the Islamic financial sector.
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Zeuspita, Ayu Chintya Arie, and I. Putu Yadnya. "PENGARUH CAR, NPL, DER DAN LAR TERHADAP ROA PADA BANK UMUM DI BURSA EFEK INDONESIA." E-Jurnal Manajemen Universitas Udayana 8, no. 12 (December 3, 2019): 7411. http://dx.doi.org/10.24843/ejmunud.2019.v08.i12.p25.
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ROA is a comparison between pre-tax profit and total bank assets. Factors that can influence ROA must be observed by bank management in order to obtain optimal ROA. Optimal ROA shows that banks are able to make good use of assets owned to generate profits. The purpose of this study was to determine the effect of CAR, NPL, DER and LAR partially on ROA in commercial banks on the IDX for the period 2013-2015. The sample in this study were banking companies listed on the Indonesia Stock Exchange for the period 2013-2015, which totaled 31 banking companies, which were taken using the census method. Data collection is done by nonparticipant observation methods. The data analysis technique used is multiple linear regression. The results showed that there was a significant positive effect between CAR and ROA. NPL shows a significant negative effect on ROA. DER shows a significant negative effect on ROA, and LAR shows a significant positive effect on ROA.
Keywords: CAR, NPL, DER, LAR, ROA
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Al-Own, Bassam, and Tareq Bani-Khalid. "Financial Inclusion and Tax Revenue: Evidence From Europe." International Journal of Financial Research 12, no. 2 (January 11, 2021): 27. http://dx.doi.org/10.5430/ijfr.v12n2p27.
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This paper aimed to investigate the relationship between financial inclusion and tax revenue using measures from the Global Findex database for a sample of 28 European countries between 2011- 2017. The data were analysed using panel data methodology. The number of people who are financially included in this observed period might increase over time, which would create more income and in turn lead to higher tax contributions to the government. We found strong evidence to suggest that financial inclusion represents one of the determinants of tax revenue in European countries. Results of the analysis show positive and significant impact of financial inclusion as measured by Bank account (% of age +15) and credit card ownership (% age 15+) on tax revenues measures. The results are robust using several sources of taxation. The findings suggest that higher financial inclusion is associated with more tax revenue. These results should be of great interest to regulators and policymakers to take advantage of the developments on financial inclusion.
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Damayanti, Theresia Woro, and Supramono Supramono. "Women in control and tax compliance." Gender in Management: An International Journal 34, no. 6 (August 5, 2019): 444–64. http://dx.doi.org/10.1108/gm-06-2018-0071.
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Purpose The study aims to empirically analyze the effects of the presence of female top managers and owners on corporate tax compliance. Design/methodology/approach Data for analysis were sourced from the World Bank Enterprise Surveys that involved 23,178 private firms in 98 countries. The surveys used a stratified random sampling method by using three criteria, namely, firm size, business sector and geographic region, within each country. Further, data are analyzed using the ordinal logistic regression and supported by the marginal effect analysis. Findings The results show that the presence of female top managers and owners is a significant factor that underlies the firm-level tax compliance difference when firms exhibit relatively lower compliance. Practical implications Although this study shows that the determinants of corporate tax compliance are very complex, there are also crucial roles of top managers and owners' gender. This study advises firms to use the gender equality strategy to generate the best human capital, especially in their top management levels. Besides, this study can be helpful in designing policies that facilitate women to reach top managerial levels or to own businesses as an alternative method to enhance tax compliance for developing countries that fail to generate optimal corporate income tax revenues. Originality/value To the best of the authors’ knowledge, no previous studies examine the effects of the presence of female top managers and business owners on firms’ tax compliance policies. This study contributes to extend the understanding of the important role of women in corporate strategic decision-making, especially in taxation policies in various developing countries.
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Krauß, Felix. "Regulatory Capital Management: Fair Value Measurement and Regulatory Capital Ratios." Credit and Capital Markets – Kredit und Kapital: Volume 52, Issue 3 52, no. 3 (July 1, 2019): 375–421. http://dx.doi.org/10.3790/ccm.52.3.375.
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Abstract The calculation of the regulatory capital ratios according to the Capital Requirements Regulation (CRR) is based on the IFRS consolidated financial statements. Therefore, banks are able to influence their regulatory capital ratios through discretionary powers when measuring with fair values according to IFRS 13. This paper analyzes the effects that discretionary fair value changes have on the regulatory capital ratios. Furthermore, the impact of the prudent valuation according to article 105 CRR on the regulatory capital ratios is examined. While the results depend on a multitude of factors and vary from case to case, there are situations in which the same fair value change of an identical financial asset can have opposing effects on certain regulatory capital ratios depending on bank specific factors like its regulatory capitalization or its tax rate. As a result, decreasing fair values can in some circumstances lead to higher regulatory capital ratios and thus, indicate a greater solvency. In order to identify possible conflicts of interest, the effects of fair value changes on the comprehensive income are also included in the analysis because the comprehensive income serves as an important target figure for banks in addition to the regulatory capital ratios. JEL Classification: F380, G380, M410, M480
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Kaka, Emmanuel John. "An Empirical Evidence of the Impact of Government Tax Revenue on Nigerian Public Debt." Journal of Accounting Research, Organization and Economics 4, no. 3 (December 9, 2021): 264–76. http://dx.doi.org/10.24815/jaroe.v4i3.20222.
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Objective The major objective of this paper is to examine the existence of a mutual consen-sus on the effect of tax revenue and non-tax revenue on public debt in Nigeria.Design/methodology – The study uses documentary research design. Data was collect-ed using secondary method of data collection from Debt Management office and Bureau of statistics and Central Bank of Nigeria statistical bulletin data bank. Ordinary Least Square Multi regression model was used in analyzing the dataResults – The research found out that there is a negative an insignificant relationship be-tween tax revenue, non-tax revenue and interest rate in relation to Nigerian public debt. Moreover, the paper found out that exchange rate and population rate had significant and positive relationship with Nigerian public debt.Limitation/Suggestion – The implication of the study is that, the contribution of tax revenue to the reduction of public debt is minimal as could be shown from the results. While, non-tax revenue contributed more than tax revenue in public debt reduction in Nigeria. In addition, increase in exchange rate, and population rate contributed more to increase in pub-lic debt, while, an increase in interest rate does not increase public debt but rather it discour-ages the government from collecting more debt and push the government to go for other rev-enue sources that where not assessed. The study recommended that; government should harness untapped taxes to increase tax revenue generation to pay interest on loan and princi-pal. Must of the information at the researcher disposal used for the study was for 15 years, from 2003 to 2018. Thus, studies need to be conducted involving more year like from 20 years upward to see whether it will change the result.Novelty/Originality – The originality of this research lies on the government inability to generate enough tax revenue and non-tax revenue to meet expenditure without collecting debt. This is because collection of debt always leads to frequent increase in debt burden in Nigeria. Fewer or no one has carried out a careful analysis of the relationship between tax and non-tax revenue against total debt in Nigeria.
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Imarhiagbe, Bernard Owens, George Saridakis, and Anne-Marie Mohammed. "Do bank credit rejection and financial education affect financial self-confidence?" International Journal of Entrepreneurial Behavior & Research 23, no. 6 (October 2, 2017): 1033–51. http://dx.doi.org/10.1108/ijebr-05-2016-0168.
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Purpose The purpose of this paper is to examine empirically the determinants of owner manager financial self-confidence. In particular, it estimates the effect of bank credit rejection and financial education (FE) on the financial self-confidence of business owners. Design/methodology/approach This paper uses data from 2004 and 2008 surveys of 2,500 UK small and medium sized enterprises (SMEs). An ordered probit estimation is used to measure and assess the effect of bank credit rejection and FE variables on financial self-confidence for the two periods. The authors also explore potential differences in self-confidence between males and females. Findings The results show that outright bank credit rejection reduces financial self-confidence among owner managers whereas partial bank credit rejection is found to help boost confidence prior to the financial crisis. There is strong evidence that FE increases financial self-confidence. Finally, the authors find no association between gender and reported self-confidence in finance. Research limitations/implications Entrepreneurs and potential entrepreneurs are encouraged to explore financial literacy and knowledge with a view to increasing their financial self-confidence. This will help SMEs to deal with the banks or other finance providers more efficiently. In addition, better application procedures and information on lending criteria may help SMEs to minimize the probability of bank credit rejection. So the current study has implications for professional bodies as well. The study, however, is restricted to sole proprietor and partnership SMEs and in the UK context only. Practical implications Financial self-confidence has a progressive effect on entrepreneurship and entrepreneurial venture growth. The financial self-confidence of owner managers can support their entrepreneurial capability in starting and operating one or more businesses. As entrepreneurs successfully start and operate their own businesses, they are contributing to economic development through job creation, employment and tax contribution. Originality/value This paper makes an original contribution in highlighting the usefulness of FE in boosting financial self-confidence among entrepreneurs and potential entrepreneurs. It is also found that the experience of bank credit rejection reduces entrepreneurs’ financial self-confidence.
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Tolmachev, Alexey, Vitaliy Smirnov, Evgeniy Grishin, and Denis Syromyatnikov. "Management of small agricultural cooperation and corporatization." SHS Web of Conferences 89 (2020): 01001. http://dx.doi.org/10.1051/shsconf/20208901001.
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The possibility of applying the principles of corporate governance in the practice of small agricultural businesses is considered. The authors believe that cooperative associations of small market participants can transform into corporate associations at a certain stage of development. The scientific novelty is represented by an improved economic mechanism of two-level cooperation of small agricultural enterprises with the financial participation of municipalities, regional and Federal authorities and the formation of their own cooperative Bank. The mechanism recommended by the authors is aimed at motivating small business participants to cooperate by the possibility of subsequent corporatization. The implementation of the cooperation development plan will require temporary exemption of its participants from the tax burden, while the state should practice joint construction of processing, logistics and other necessary facilities in the agricultural sector, with the subsequent transfer of its shares to consumer cooperatives of small businesses.
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Burke, Lee, Jeanne M. Logsdon, Will Mitchell, Martha Reiner, and David Vogel. "Corporate Community Involvement in the San Francisco Bay Area." California Management Review 28, no. 3 (April 1986): 122–41. http://dx.doi.org/10.2307/41165206.
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In 1982, Steve Jobs, a founder and then chairman of Apple Computer, departed from Apple's tradition of avoiding political action to lobby successfully for the passage of California Assembly Bill 3194. This legislation, nicknamed the “Apple Bill,” gave manufacturers special tax credits for donations of scientific equipment to California schools. Through its “Kids Can't Wait” program, Apple has donated computer systems to more than 9,000 elementary and secondary schools. Apple also encourages companies that make products for Apple systems to add these products to Apple's systems donations. Del Monte Corporation began making product donations of occasional excess production on a decentralized basis many years ago. Products were given to local communities, food banks, and even company employees. However, these recipients were frequently unable to absorb large quantities of often single-product contributions. Concerned with the waste and inefficiency of this decentralized distribution method, Del Monte searched for a better way to contribute excess products to needy recipients. In 1985, it arranged with a national food-bank clearinghouse to distribute excess products through a network of local food banks.
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Prejs, Ewa. "Wyrok Trybunału Sprawiedliwości w sprawie National Grid Indus BV – złote runo czy puszka Pandory?" Przegląd Europejski, no. 1-2014 (June 29, 2014): 24–42. http://dx.doi.org/10.31338/1641-2478pe.1.14.2.
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This paper examines the decision of the European Court of Justice in the National Grid Indus case issued on 29 November 2011, concerning exit tax levied on unrealised capital gains relating to the assets of a company transferring its place of management for tax purposes between Member States. The author indicates the significance of the judgment. She generally shares the ECJ’s opinion but argues that justifications based on the need to safeguard the allocation of taxing rights among Member States should not be rejected by the ECJ without any differentiation regarding specific circumstances. The author also considers whether the ECJ changed its view on the provisions introduced by the member states in their domestic law relating to remedies safeguarding the recovery of the tax, such as interest payments and bank guarantees, and mandatory provisions allowing for future decreases in value of the company assets transferred to another Member State.
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Feridhanusetyawan, Tubagus, and Mari Pangestu. "Managing Indonesia's Debt." Asian Economic Papers 2, no. 3 (September 2003): 128–54. http://dx.doi.org/10.1162/asep.2003.2.3.128.
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This paper investigates how Indonesia should manage its massive debt burden arising from the Asian financial crisis, which led to increased external debt and, more significantly, increased domestic debt related to the country's bank restructuring program. Indonesia's enormous outstanding debt puts pressure on the balance of payments, causes severe budget constraints, and creates a huge future debt burden that brings with it the risks of illiquidity and default. The following measures are recommended for an effective debt management program: encourage rapid growth and ensure macroeconomic stability; minimize future contingent liability; increase domestic revenues by broadening the tax base and intensifying tax collection; seek better Paris Club rescheduling terms, obtain more concessional terms for new borrowing, and explore debt swaps; develop and regulate the government bond market; create a well-managed coordinated unit for debt management; and create the necessary legal foundations to protect investors.
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Sastri, Ida I. Dewa A. Manik, and Luh Kade Datrini. "UPAYA PENINGKATAN PENERIMAAN PAJAK PASCA TAX AMNESTY PADA KANWIL DJP BALI." Behavioral Accounting Journal 1, no. 1 (December 13, 2018): 37–49. http://dx.doi.org/10.33005/baj.v1i1.17.
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On July 1, 2016, the Government established Law No. 11 of 2016 concerning Tax Amnesty. This law has been postponed several times, after tough discussions in the House of Representative (Dewan Perwakilan Rakyat – DPR) since 2015. The failure to achieve tax revenues over the past few years has triggered the enactment of this law. The government sees that tax revenues are still low due to a lack of public awareness in reporting taxes, even though the government in the last few years has relied heavily on state revenues from the results of tax revenues. The World Bank notes that Indonesia's tax ratio in 2014 was only 10.84% of Gross Domestic Income, while the average tax ratio of countries in the world was 14.81%. So the level of tax collectibility in Indonesia is still very small, so it is quite heavy in supporting state spending. The purpose of this study was to find out the benefits of tax amnesty as an effort to stimulate national income, to find out the magnitude of the tax amnesty contribution in increasing state revenues, and analyze the influence of several factors in increasing tax revenue after tax amnesty. The implementation of tax amnesty that ended at the end of March 2017 was quite good. The results showed that the number of taxpayers participating in the tax amnesty were 974,058, the amount was still small compared to the potential tax in the country. The amount of state revenue from the Tax amnesty is 107 trillion from 1,104.9 total realized tax revenues in 2016. An important point that must be done immediately after the tax amnesty is the administration update related to data and information management with an integrated IT system with all stakeholders, coordination of tax law enforcement through examination, and institutional transformation.
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Poutziouris, Panikkos, Francis Chittenden, Tim Watts, and Khaled Soufani. "A Comparative Analysis of the Impact of Taxation on the SME Economy: The Case of UK and US – New York State in the Year 2000." Environment and Planning C: Government and Policy 21, no. 4 (August 2003): 493–508. http://dx.doi.org/10.1068/c0338.
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The purpose of this paper is to report on a comparative study of the impact on the SME economy (fewer than 250 employees) of the UK and US (New York State) tax regimes. This explorative study is part of the ongoing small business taxation research programme undertaken in association with NatWest Bank. The research involves (a) the computation of the tax position of a sample of UK-based small businesses (a self-employed person, a partnership, and a small limited company); (b) the application of the tax regime of New York State to the UK business cases studies; (c) the development of two computer simulation models that estimate the direct tax burden incurred by small businesses in the United Kingdom; and (d) the application of the tax regime of New York State to the UK models. This research forms the basis of a comparative discussion about the business tax regime in the United Kingdom and USA and throws some light on the on-going debate about the development of the tax regimes applicable to small businesses in OECD countries. The paper concludes with a summary of the key findings and policy implications and offers a brief discussion on progress towards tax harmonisation from the small business perspective.
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Chijioke, Amadi Kelvin, and Alolote Ibim Amadi. "The Nomenclature of Taxation in Nigeria: Implications for Economic Development." JOURNAL OF INTERNATIONAL BUSINESS RESEARCH AND MARKETING 4, no. 4 (2019): 28–33. http://dx.doi.org/10.18775/jibrm.1849-8558.2015.44.3004.
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The paper analyzed the impact of taxation on economic development in Nigeria as it concerns value-added tax (VAT), Company Income Tax (CIT) and Petroleum Profit Tax (PPT). For the purpose of this study, the major source of data was a secondary source. Data were collected from the Central Bank of Nigeria Statistical Bulletin and Federal Inland Revenue Services. The data collected were analyzed with Ordinary Least Square Multiple Linear Regressions since there were more than two variables. The analysis revealed that all the independent variables (VAT, CIT and PPT) used in this study have a significant positive relationship on the dependent variable (GDP), which is used to measure economic development while value-added tax, company income tax, and petroleum profit tax were used to measure taxation. It was therefore recommended that the government should extend its database to capture all tax revenue by employing practically and technically oriented professionals. Results also imply it is recommended for the government to foster a favorable environment for young entrepreneurs to initiate and grow businesses that will lead to an increase in tax revenue for the government. It was also recommended that social science, which is the umbrella that covers management sciences, should be employed to manage businesses so as to ensure the survival of businesses and boast the nation’s revenue through tax, as it concerns training having an impact on resources utilization and allocation, thus promoting profit maximization.
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Bacal, Petru, and Nicolae Boboc. "Economic and Financial Aspects of Water Management in the Dniester Basin (The Sector of the Republic of Moldova)." Present Environment and Sustainable Development 9, no. 1 (May 1, 2015): 33–45. http://dx.doi.org/10.1515/pesd-2015-0002.
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Abstract The main topics presented in this paper are following:1 Essence and the tools of the economic mechanism of management of water resources; 2 Taxes on water consumption; 3 Tariffs for services of water supply and sewerage; 4 administrative penalties for infringements of use and protection of water resources; 5 The grants for the rational use and protection of water. In the Dniester Basin have been concentrated the majority of water resources, of urban, industrial and agricultural centers. Thus, this basin holds over 90% of water consumption, most of which are captured from surface sources and used by industrial enterprises from the left bank of Dniester, especially by Thermoelectric Plant (TEP) from Dnestrovsk. On the right bank of Dniester it is noted communal enterprises, agricultural and food industry, and in most of the localities water is captured from groundwater sources. Actual amount of water tax is very low, which conditioned the increased of water consumption and irrational use of these limited resources
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Kamasa, Kofi, George Adu, and Eric Fosu Oteng-Abayie. "Firm productivity in Sub-Saharan Africa: how relevant is quality of tax administration?" African Journal of Economic and Management Studies 11, no. 1 (November 14, 2019): 75–90. http://dx.doi.org/10.1108/ajems-03-2019-0093.
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Purpose The purpose of this paper is to find the effect of quality of tax administration on firm productivity in Sub-Saharan Africa (SSA). Also, the paper investigates whether the effect of quality of tax administration on firm productivity varies with respect to firms of different ages and sizes. Design/methodology/approach The paper uses the World Bank Enterprise Survey data for 6,718 firms across 40 countries in SSA. By employing the least square method, the estimations are robust since country and industry heterogeneity are controlled, as well as other covariates that affect firm productivity such as capital, technology, business environment, infrastructure and firm characteristics. Findings Results of the paper reveal that productivity of firms reduces with poor quality of tax administration. With positive and significant interaction term coefficient between smaller firms and quality of tax administration, the findings also reveal that smaller firms do benefit in the presence of poor quality of tax administration than larger firms. Originality/value The study contributes to policy by providing empirical evidence on the impact that quality of tax administration has on firm productivity. Empirically, the paper is also the first to assess the effect of tax administration quality on firm productivity with sole emphasis on SSA (to the best of the authors’ knowledge after review of literature). The paper suggests reforms and improvement in tax administration so as to reduce compliance burden and improve productivity.
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Sasongko, Gatot. "MONETARY POLICY AND THE CAUSALITY BETWEEN INFLATION AND MONEY SUPPLY IN INDONESIA." Business: Theory and Practice 19 (May 30, 2018): 80–87. http://dx.doi.org/10.3846/btp.2018.09.
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Conceptually and empirically, inflation volatility in Indonesia is a monetary and fiscal phenomenon. This study focuses on the macroeconomic policy and public policy especially causality between two variables namely inflation and money supply in Indonesia. This study uses Indonesian macroeconomic data of inflation and money supply from the Bank of Indonesia publication during 2007.1–2017.7. Inflation is measured by the consumer price index, reflects the annual percentage change in costs of acquiring a basket of goods and services to the average consumers that may change at specified intervals. Meanwhile, money supply is measured by the currency, demand deposits, time deposits, and saving deposits. Methodically, this study uses the Granger Causality model to determine the causality between inflation and money supply. The results show that there is a one-way causality between inflation and money supply in Indonesia. These findings imply that money supply causes inflation, but not vice versa. This condition implies that the role of Indonesian Government and Bank of Indonesia were very crucial in managing and controlling macroeconomic policy and public policy. Then, analysis of money supply and inflation also related to impacting factors such as money laundering, role of banks, taxation, tax evasion, and corruption.
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Bodea, Adrian, and José Manuel Sánchez-Santos. "Seigniorage and inflation tax in Romania. What is the executive giving up by adopting the euro?" Scientific Annals of Economics and Business 67, no. 1 (March 2020): 75–91. http://dx.doi.org/10.47743/saeb-2020-0005.
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This paper is concerned with measuring the seigniorage in Romania since the fall of communism and the potential gains after passing to euro. Starting from the balance sheet of the central bank, we estimated these levels of seigniorage for a period of 27 years. Our findings suggest that this source of revenue was at very high rates in the period of the 90’s, mostly due to the huge prolonged inflation rates. Ever since the independence of the central bank, these levels of seigniorage dropped and became constant, at around 1-2% of the GDP. Also, we computed the potential gains due to euro adoption. We showed that as Romania converge with the rest of the Eurozone its seigniorage potential gains from euro adoption drops. Because these gains are only very small in relation to national income, we argue that the implications of giving up own currency are not budget related.
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Azevedo, Monique de Abreu, and Ivan Ricardo Gartner. "Liquidation and merger conditions in the banking industry: the Itaú-Unibanco case." Revista Contabilidade & Finanças 31, no. 82 (April 2020): 99–115. http://dx.doi.org/10.1590/1808-057x201908140.
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ABSTRACT This study’s main objective is to present the circumstances that signal an imminent commercial bank liquidation and the conditions in which mergers are advantageous for a potential acquirer. In addition, it applies the method in an empirical investigation within the context of the domestic banking industry. The research reveals new explanatory factors for liquidations and mergers between robust and insolvent banking institutions, such as bankruptcy costs and tax credits derived from a corporate union. The framework stands out for highlighting the role of creditor financial institutions participating in the open and interbank markets, which in the search to maximize their utility together with that of the shareholders have a decisive influence over the continuity or closure of the bank in crisis. The soundness of the financial system is an essential public good for society. Systemic financial crises cause significant costs for economic agents, such as a fall in production, increased unemployment, a rise in the fiscal deficit, and asset price instability. Efforts to achieve stability involve the regular functioning of banks. In this context, it is important to understand the circumstances under which banking institution distress can be solved by alternatives that are less costly for the treasury. Often, the research indicates the causes of disruptions to corporate activities; however, the explanatory variables and the tools used by bankruptcy prediction models are constantly being evaluated. Theories that elucidate the phenomenon are even scarcer. The paper’s result suggests the effectiveness of the method developed from the paradigmatic perspective of the field of economics and management, corroborating agency theory. The explanatory variables of bankruptcy and bank merger highlighted in this research can contribute to the elaboration of robust models to predict financial distress. The mathematical model of liquidation and merger was constructed from the viewpoint of an imperfect world where informational asymmetry and conflict of interests among shareholders, open and interbank market creditors, and bondholders (which includes depositors and holders of bonds issued by the bank) prevail. Bankruptcy maximizes shareholder and creditor utility if liquidation costs plus the value payable to the bondholders after liquidation are lower than the value they receive in the event of continuity. A merger is feasible for an acquirer if expected return plus tax benefits minus bondholder expenses is greater than the value payable to interbank market creditors. The method is applied to the merger between Itaú and Unibanco, considered a milestone in the process of consolidating the banking market in Brazil. This paper suggests the use of an algebraic model, based on agency theory, as an indicator of conditions for liquidations and bank mergers. The proposed approach was adequate for explaining the union between Unibanco and Itaú, which culminated in the largest private financial conglomerate in the Southern Hemisphere. Unibanco experienced the bankruptcy circumstances and there was evidence that Itaú’s tax benefits encouraged the merger. This article contributes to academic epistemology because it revisits the classical model, characterized by mathematical and theoretical robustness, and adjusts it to the specificities of banks. In addition to this methodological novelty, it applies it to an emblematic case, making it a useful tool for corporate decision-making and bank supervision, especially with regards to actions focused on financial stability.
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Kumari, Prity, and Jamini Kanta Pattanayak. "Linking earnings management practices and corporate governance system with the firms’ financial performance." Journal of Financial Crime 24, no. 2 (May 2, 2017): 223–41. http://dx.doi.org/10.1108/jfc-03-2016-0020.
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Purpose In the shadow of global financial crisis, practice of earnings management can be hazardous for the growth and development of an economy, especially for a developing economy like India. This empirical study is performed to analyse the presence of earnings management practices in Indian public and private commercial banking industry. This study also aims at developing a framework for the three-way relationship existing between the variables of corporate governance, earnings management practices and firm performance. Design/methodology/approach Data have been collected for a period of 11 financial years (2003-2013) from Prowess (Centre for Monitoring Indian Economy) 4.14 database. A bank-based accrual model has been used for calculating earnings management practices. OLS regression has been used for analysing degree of interdependence among variables of corporate governance, earnings management practices and financial performance. Findings The analysis supports the fact that there is the existence of income increasing earnings management practices in Indian commercial banks. It is also observed that corporate government practices (viz. board characteristics, audit practices and performance-based remuneration) basically work as restricting variables for earnings management practices. It is evident from the analysis that market-based firm performance variables (viz. PE ratio, yield and profit after tax) are significantly related to earnings management and corporate governance system. Practical implications The finding of this study will help in monitoring and controlling fraudulent earnings management practices existing in Indian commercial banks. Originality/value This study is the initial research about the presence of earnings management practices in Indian commercial banks.