scholarly journals Alíquota efetiva de tributos sobre o lucro no Brasil das companhias da B3: um estudo da relação dos indicadores de retorno financeiro

ForScience ◽  
2020 ◽  
Vol 8 (2) ◽  
pp. e00776
Author(s):  
Tiago De Jesus Mendes ◽  
Ilva Ruas Abreu ◽  
Felipe Fróes Couto
Keyword(s):  
Effective Rate ◽  
Third Party ◽  
Tax Rates ◽  
Effective Tax Rate ◽  
Financial Return ◽  
Return On Equity ◽  
Tax Rate ◽  
Tax Management ◽  
Relationship Of ◽  
The Relationship

A relação dos indicadores de retorno financeiro das empresas do Brasil, Bolsa, Balcão-B3, com o gerenciamento da alíquota efetiva de tributos sobre o lucro, influenciou a pesquisa. Para isso, identificou-se a relação dos indicadores financeiros de retorno sobre o patrimônio-ROE e o retorno sobre o capital investido- ROIC com a alíquota efetiva dos tributos sobre o lucro. A pesquisa possui característica explicativa e utilizou-se de regressão com dados em painel para analisar os resultados. Como resultado, o ROIC demonstrou que possivelmente as empresas mais rentáveis possuem maiores alíquotas efetivas dos tributos. O ROE apresentou que, possivelmente, o investimento da organização na remuneração por desempenho dos diretores, os leva a investirem mais recursos no gerenciamento tributário, gerando um aumento do retorno para os acionistas. A alavancagem financeira indica que no Brasil uma estrutura alavancada, pode contribuir para uma maior carga fiscal, levando as empresas a aumentarem as participações de capitais de terceiros, neutralizando o efeito da alavancagem sobre a tributação. O tamanho da empresa pode indicar que quanto maior o tamanho da empresa menor o imposto sobre o lucro da empresa. Como resultado para a taxa de imposto efetiva identificou-se que as empresas utilizam os benefícios da redução da alíquota efetiva dos tributos sobre o lucro, pois o teste não paramétrico de sinais demonstrou que em 80% das observações, as alíquotas efetivas dos tributos das empresas analisadas são menores que a alíquota nominal de 34%, logo as empresas utilizam os efeitos do gerenciamento tributário. Palavras-chave: Indicadores de retorno financeiro das empresas. Gerenciamento tributário. Alíquota efetiva de tributos sobre o lucro. Effective tax rate on profit in Brazil of B3 companies: a study of the relationship of financial return indicators Abstract The list of financial return indicators for companies in Brazil, Bag, Counter-B3, with the management of the effective tax rate on profit, influenced the research. For this, the relationship between the financial indicators of return on equity-ROE and the return on invested capital-ROIC was identified with the effective rate of taxes on profit. The research has an explanatory characteristic and regression with panel data was used to analyze the results. As a result, ROIC has shown that possibly the most profitable companies have higher effective tax rates. The ROE showed that possibly the organization’s investment in the payment per directors performance leads them to invest more resources in the tax management, generating an increase to the shareholders’ return. Financial leverage indicates that in Brazil a leveraged structure can contribute to a greater tax burden, leading companies to increase the holdings of third-party capital, neutralizing the effect of leverage on taxation. The size of the company may indicate that the larger the company size, the smaller the company's profit tax.  As a result to the effective tax rate, was identified that the enterprises they use the benefits of reducing the effective tax rate on profit, since the non- parametric signal test demonstrated that in 80% of the observations, the effective rate of the analyzed companies are lower than the nominal rate of 34%, soon the companies to use the effects of tax management. Keywords: Indicators of financial return of companies. Tax management. Effective tax rate income.

scholarly journals The relationship between the effective tax rate and the nominal rate

2018 ◽  
Vol 63 (2) ◽  
pp. 33
Author(s):  
Paulo Jorge Varela Lopes Dias ◽  
Pedro Miguel Gomes Reis
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Effective Rate ◽  
The European Union ◽  
Effective Tax Rate ◽  
Tax Rate ◽  
The United Kingdom ◽  
Nominal Rate ◽  
The Relationship

<p class="Pa7">The main goal of this investigation is to understand the relationship between the nominal rate and the effective tax rate and to evaluate if the differences between them depend on the value of the nominal rate. Based on a sample of 1,530 companies from 5 countries members of the European Union (Denmark, Slovenia, Finland, Luxembourg and the United Kingdom) there’s evidence that the effective tax rate is positively related to the nominal rate. The effective tax rate was calculated through the ratio between the value of the tax paid over the result before tax. When the nominal tax rate increases, the effective rate increases equally but with a slower growth. This relationship is softened if we take into account the value of the nominal tax rate, which shows that companies have the ability to manage the results in order to increase savings in tax.</p>

scholarly journals Faktor Penentu Tarif Pajak Efektif Pada Perusahaan Kesehatan: Sebelum dan Saat Covid-19

2021 ◽  
Vol 26 (3) ◽  
pp. 412
Author(s):  
Anindita D. Pinastika, Ferry Irawan
Keyword(s):  
Ownership Structure ◽  
Health Sector ◽  
Tax Rates ◽  
Corporate Tax ◽  
Effective Tax Rate ◽  
Tax Rate ◽  
Tax Management ◽  
State Tax ◽  
Corporate Tax Rates ◽  
The Government

The pandemic of Covid-19 had attacked and contribute to the Indonesia’ economics negatively. State tax revenues could not be achieved given the restrictions on activities that were intensified to prevent the spread of virus. Incentives issued by the government are one of the factors causing the decline in state revenues, one of which is in the form of lowering corporate tax rates. The effective tax rate used in measuring corporate tax management is tested with related-parties transaction, profitability, leverage, and ownership structure variables. The effect of this variable is then compared in 2019 and 2020 to observe whether there is a difference before and during the pandemic. The research was conducted on health sector companiesas a sector that was positively affected by the pandemic. The results of the study show that leverage has an effect on the effective tax rate (ETR) in 2020 while ownership structure has an effect on the ETR in 2019. The effective tax rate of health sector companies, which allegedly decreased due to incentives from the government, has actually increased during the pandemic.

SALES GROWTH SEBAGAI PEMODERASI PADA PENGARUH SOLVABILITAS DAN DEFERRED TAX EXPENSE TERHADAP TAX AVOIDANCE PADA PERUSAHAAN PERTAMBANGAN DI INDONESIA

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Ervin Ervin Noviani
Keyword(s):  
Stock Exchange ◽  
Tax Avoidance ◽  
Linear Regression Method ◽  
Sales Growth ◽  
Effective Tax Rate ◽  
Tax Rate ◽  
Deferred Tax ◽  
Relationship Of ◽  
The Relationship ◽  
Tax Expense

This study aims to analyze sales growth as a moderator of the effect of solvency and deferred tax expense on tax avoidance in mining companies in Indonesia. This research is a quantitative study with tax avoidance as the dependent variable. Tax avoidance is measured by the effective tax rate (ETR). The independent variables studied were soilvability and deferred tax expense and the moderating variable, namely sales growth. The sample of this research is 10 mining sector companies listed on the Indonesia Stock Exchange in 2016-2019. The sample was selected by purposive sampling method with certain criteria. Data analysis was performed by using classical assumption test and for hypothesis testing using multiple linear regression method. The results of this study indicate that sales growth is able to moderate the relationship of solvency to tax avoidance, sales growth is unable to moderate the relationship between deferred tax expense and tax avoidance, solvency has no significant effect on tax avoidance and deferred tax expense has a significant effect on tax avoidance Keywords : tax avoidance, sales growth, solvabilitas, deferred tax expense

scholarly journals Foreign Capital Participation and Tax Aggressiveness in Brazilian Companies

2020 ◽  
Vol 15 ◽  
pp. 43-53
Author(s):  
Antonio Lopo Martinez ◽  
Clébio Bis
Keyword(s):  
Significant Relationship ◽  
Foreign Capital ◽  
Equity Capital ◽  
Effective Tax Rate ◽  
Tax Rate ◽  
Tax Aggressiveness ◽  
Taxable Income ◽  
Tax Management ◽  
Tax Research ◽  
The Relationship

This study explores the relationship between tax aggressiveness and foreign capital participation in Brazilian companies listed on the BM & F BOVESPA from 2010 to 2015, using the concept of tax aggressiveness as a reduction of taxable income through tax management and planning (Chen et al., 2010). Observing that previous studies show a significant relationship between tax aggressiveness and ownership structures, this research seeks to understand whether this relationship is significant if there is foreign capital participation in the company. The sample was composed of Brazilian companies listed on the BM&F BOVESPA. Two metrics of tax aggressiveness were used to investigate this relationship: effective tax rate (ETR) and book-tax difference (BTD). The use of these metrics was inspired in a review on tax research by Hanlon and Heitzman (2010), who concluded that ETR and BTD could capture the reduction of taxable income through tax planning. The results showed no significant relationship between foreign capital participation and tax aggressiveness, demonstrating that the origin of equity capital is not a factor of tax aggressiveness.

The Relationship Between Effective Tax Rate and Firm Size

2020 ◽  
Vol 7 (2) ◽  
pp. 37-61
Author(s):  
Epameinondas Katsikas ◽  
Dimitrios Koufopoulos ◽  
Jacob Lewis
Keyword(s):  
Firm Size ◽  
Retail Trade ◽  
Research Approach ◽  
Tax Rates ◽  
Effective Tax Rate ◽  
Effective Tax Rates ◽  
Tax Rate ◽  
Factors Affecting ◽  
Trade Sector ◽  
The Relationship

The current research studies firm size and other determinants of effective tax rates for UK companies operating in the wholesale and retail trade sector. A panel of 784 companies from the BvD Company Independence Indicator (BvD's FAME database) is studied over the six-year period 2008-2013. The research approach is unique in terms of the comprehensive data it is using as it is large panel data and it involves finance and accounting analytics. The analysis shows that size and profitability were significant factors affecting the average effective tax rates of companies in the wholesale and retail trade sector.

Multi-component complex ores: Special aspects of using ad valorem and specific mineral extraction tax rates

2020 ◽  
Vol 26 (6) ◽  
pp. 1297-1314
Author(s):  
T.A. Loginova
Keyword(s):  
Krasnoyarsk Krai ◽  
Tax Rates ◽  
Russian Regions ◽  
Rent Extraction ◽  
Effective Tax Rate ◽  
Mineral Extraction ◽  
Tax Rate ◽  
Significant Differentiation ◽  
The Russian Federation ◽  
Ad Valorem

Subject. This article discusses the issues related to the taxation for multi-component complex ores and commercial components using ad valorem and specific mineral extraction tax (MET) rates. Objectives. The article aims to assess some results of the application of specific MET rates in the Krasnoyarsk Krai and ad valorem rates in other subjects of the Russian Federation, taking into account the specifics of the current taxation procedure for multi-component complex ores and their commercial components. Methods. For the study, I used a comparative analysis, synthesis, and the method of extrapolation. Results. The article shows that the change in the type of MET rate for multi-component complex ores and commercial components has led to a significant increase in the effective tax rate. This led to an increase in the corresponding MET revenues in the Krasnoyarsk Krai. The article also substantiates that the introduction of specific rates in other Russian regions requires a significant differentiation of specific MET rates. However, this is risk-bearing concerning unfair distribution of the tax burden and the complexity of tax administration. Conclusions. The issue of identifying multi-component complex ores and their commercial components is controversial. Extending specific MET rates to other regions may complicate the mechanism of rent extraction.

A Study of Perceived Ethicality of Low Corporate Effective Tax Rates

2017 ◽  
Vol 32 (1) ◽  
pp. 87-104 ◽  
Author(s):  
F. Todd DeZoort ◽  
Troy J. Pollard ◽  
Edward J. Schnee
Keyword(s):  
Mediation Analysis ◽  
General Public ◽  
Tax Avoidance ◽  
Tax Rates ◽  
Perceived Fairness ◽  
Effective Tax Rate ◽  
Effective Tax Rates ◽  
Tax Rate ◽  
Policy Practice ◽  
Participant Group

SYNOPSIS U.S. corporations have the ability to avoid paying domestic taxes to achieve an effective tax rate that is much lower than the statutory federal tax rate. This study evaluates the extent that individuals differ in their attitudes about the ethicality of corporations avoiding domestic taxes to achieve low effective tax rates. We also examine the extent to which the specific tax avoidance method used by corporations to access a low effective tax rate affects perceived ethicality. Eighty-two members of the general public and 112 accountants participated in an experiment with two participant groups and three tax avoidance methods manipulated randomly between subjects. The results indicate a significant interaction between participant group and tax avoidance method, with the general public considering shifting profits out of the country to achieve a low effective tax rate to be highly unethical, while the accountants find tax avoidance from carrying forward prior operating losses to be highly ethical. Further, mediation analysis indicates that perceived fairness and legality mediate the effects of participant type on perceived ethicality. Mediation analysis also reveals that sense of fairness and legality mediate the link between tax avoidance method and perceived ethicality. We conclude by considering the study's policy, practice, and research implications.

Taxation in a mixed economy: the case of China

2017 ◽  
Vol 34 (1) ◽  
pp. 49-61 ◽  
Author(s):  
Davidson Sinclair ◽  
Larry Li
Keyword(s):  
Income Tax ◽  
Central Government ◽  
Corporate Income Tax ◽  
Tax Rates ◽  
Government Ownership ◽  
Effective Tax Rate ◽  
Effective Tax Rates ◽  
Content Type ◽  
Tax Rate ◽  
For Profit

Purpose The purpose of this paper is to investigate how Chinese firms’ ownership structure is related to their effective tax rate. The People’s Republic of China provides an interesting environment to examine the corporate income tax. Government has significant ownership stakes in the for-profit economy and state-owned enterprises (SOEs) are liable to the corporate income tax. This is very different to most other economies where SOE tends to dominate the not-for-profit economy and pays no corporate income tax. Government ownership also varies between the central government and local government in addition to state asset management bureaus. This provides a rich institutional background to examining the corporate income tax. Design/methodology/approach A panel data analysis approach is used to examine relationship between ownership structure and effective tax rates of all public firms in China from 1999 to 2009. Findings The authors report that effective tax rates do appear to vary across the ownership types, but that SOEs pay a statistically higher effective tax rate than to non-state-owned. In addition, local government owned SOE pay higher effective tax rates than central government and SAMB owned SOE. The authors also investigate Zimmerman’s (1983) political cost hypothesis. Unfortunately, these results are econometrically fragile with the statistical significance of those results varying by empirical technique. Originality/value This paper provides insight into government ownership and taxation in China.

Strategic Choice of Presentation Format: The Case of ETR Reconciliations

2021 ◽  
Author(s):  
Roman Chychyla ◽  
Diana Falsetta ◽  
Sundaresh Ramnath
Keyword(s):  
Income Tax ◽  
Strategic Choice ◽  
Presentation Format ◽  
Tax Rates ◽  
Effective Tax Rate ◽  
Effective Tax Rates ◽  
Tax Rate ◽  
Explicit Mention ◽  
Disclosure Strategy ◽  
Minimize Costs

To minimize costs related to unfavorable perceptions of their tax-related activities, firms with low effective tax rates (ETR) could avoid, where possible, explicit mentions of their effective tax rates. Using this reputational cost perspective we study an item of required disclosure in the income tax footnote of the 10-K, the ETR reconciliation table, where firms can choose a presentation format that reveals the tax rate (the percentage format) or one that avoids explicit mention of the effective tax rate (the dollar format). We find that firms with low ETRs are 24 percent more likely to use the dollar format, and are also less likely to mention their tax rates elsewhere in their disclosures, consistent with the choice of dollar format reflecting a firm's overall tax disclosure strategy. Analysts' tax expense forecasts are less accurate for dollar format firms, suggesting higher processing costs associated with tax-related disclosures for these firms.

An Investigation of the Firm Size—Effective Tax Rate Relation in the 1980s

1993 ◽  
Vol 8 (2) ◽  
pp. 167-182 ◽  
Author(s):  
Thomas C. Omer ◽  
Karen H. Molloy ◽  
David A. Ziebart
Keyword(s):  
Firm Size ◽  
Tax Burden ◽  
Tax Rates ◽  
Corporate Tax ◽  
Effective Tax Rate ◽  
Effective Tax Rates ◽  
Policy Makers ◽  
Tax Rate ◽  
Sample Composition ◽  
Rate Relation

Given the recent emphasis on effective tax rates by policy makers and accounting researchers, this study investigates the relation between firm size and corporate tax burdens on a yearly and an industry basis. The analysis is conducted using five effective tax measures employed in previous studies in order to determine the degree to which inferences between size and tax burden are robust across these different effective tax measures. The results indicate that the relation is fairly robust across measures and, in instances in which the relation is not upheld by our analysis, sample composition explains differences in the observed relation between firm size and corporate tax burden.

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