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on Accounting and Auditing |
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Issue of 2017‒02‒12
nine papers chosen by |
| By: | Gabriele, Mazzolini; Laura, Pagani; Alessandro, Santoro; |
| Abstract: | We use a large administrative tax-returns panel dataset merged with tax audit database to estimate the effect of real-world operational tax audits on subsequent tax behavior. Our identification strategy and the institutional setting that we consider enable us to address potential endogeneity related to non-random selection of taxpayers to be audited. We find a positive and lasting effect of audits on subsequent reported income. However, in line with theoretical predictions, taxpayers do not increase tax compliance when the tax authority does not assess a positive additional income. Our results are robust to a variety of specifications and samples. |
| Keywords: | Tax Compliance, Administrative Panel Data, Tax Audits |
| JEL: | H26 C23 C55 |
| Date: | 2017–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:mib:wpaper:359&r=acc |
| By: | Elena Kornienko (Russian Presidential Academy of National Economy and Public Administration, Chelyabinsk branch); Maksim Kornienko (Chelyabinsk Institute of Economy and Law) |
| Abstract: | The article considers the legislative framework of the government auditing of forming and controlling budgetary legislation execution. The author presents the extracts from the reports of the Counting Chamber of the Russian Federation for 2014, and also the main problems and directions of controlling federal budget execution of the RF for 2015 |
| Keywords: | auditing of forming and controlling execution, federal budget, budgetary legislation |
| JEL: | K0 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:ch1632&r=acc |
| By: | Roman Stöllinger (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | We put forward the hypothesis that increasing specialisation in the production of non-tradable output has a negative impact on the current account balance. This tradability hypothesis is directly derived from a two-sector inter-temporal current account model. To test it empirically we develop a value-added based tradability index which captures the tradability of a country’s output. Applied to a large sample of European countries, our empirical model provides strong evidence for a positive relationship between the current account balance and the tradability index. The main policy implication is that the anxieties about ‘de-industrialisation’ in large parts of Europe seem justified with a view to growing external imbalances. |
| Keywords: | current account, tradability index, tradable goods, structural change, value added exports |
| JEL: | F41 F32 F10 F14 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:wii:wpaper:134&r=acc |
| By: | Xavier Giné (World Bank); Nídia García (Banco de la República de Colombia); José Gómez-González (Banco de la República de Colombia) |
| Abstract: | An audit study was conducted in Colombia following the protocols in Giné and Mazer (2017). Trained auditors visited multiple financial institutions, seeking credit and savings products. Consistent with Gabaix and Laibson (2006) and similar to Giné and Mazer (2017), the staff only provides information about the cost when asked, disclosing less than a third of the total cost voluntarily. In addition, clients are rarely offered the cheapest product, most likely because staff is incentivized to offer more expensive and thus more profitable products to the institution. Classification JEL: D14, G18, G21, O16 |
| Keywords: | financial information, audit study |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:bdr:borrec:984&r=acc |
| By: | William R. Cline (Peterson Institute for International Economics) |
| Abstract: | The proposal by Speaker of the House Paul Ryan and House Ways and Means Committee Chairman Kevin Brady to replace the corporate profits tax with a 20 percent tax on cash flow with no deductibility for imports but complete deduction of exports is misguided for several reasons. First, it is protectionist, because it imposes the tax on the entirety of import value but only on the corporate profit component of domestic production, violating the concept of “like treatment” between imports and domestic goods. Second, a nonprotectionist version would involve a much lower rate and far lower revenues and, in principle, would have to vary sharply across sectors. Third, the tax would punish sectors particularly dependent on imports, especially the retail sector, automobiles, and oil refining. Fourth, the tax would be regressive, by shifting the burden to consumers and away from the holders of corporate shares with respect to the traded part of production and consumption. Fifth, the tax is unlikely to induce a fully compensating rise in the dollar against other currencies such that imports would be no more costly (and exports no more profitable) than before. Because of its protective structure, the proposal is likely to run afoul of rules against protection at the World Trade Organization, of which the United States is a signatory. Nevertheless, because the Ryan-Brady proposal continues to be a priority of Republicans in Congress, and in view of the Trump administration’s mixed signals on the proposal, it is important for the public to understand its elements and the dangers they pose. |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:iie:pbrief:pb17-4&r=acc |
| By: | Hector Hernandez Guevara (European Commission – JRC); Fernando Hervas Soriano (European Commission – JRC); Alexander Tuebke (European Commission – JRC); Antonio Vezzani (European Commission – JRC); Sara Amoroso (European Commission – JRC); Alexander Coad (European Commission – JRC); Petros Gkotsis (European Commission – JRC); Nicola Grassano (European Commission – JRC) |
| Abstract: | The 2016 edition of the EU Industrial R&D Investment Scoreboard (the Scoreboard) analyses the 2500 companies investing the largest sums in R&D in the world in the fiscal year 2015. It comprises companies based in the EU (590), the US (837), Japan (356), China (327), Taiwan (111), South Korea (75), Switzerland (58) and further 20 countries. This Scoreboard edition shows significant worldwide rise of corporate R&D, driven by high-tech industries. Revenues declined mostly due to low-tech sectors. Top 2500 Scoreboard firms invested in R&D €692.3bn in 2015, increase of 6.6% vs. 2014, similar growth than year before (6.8%). EU companies increased R&D above world's and US's growth rates in 2015. Asian companies continued to show large R&D growth but slowdown in revenues growth. Growth was driven by companies operating in the largest R&D-investing industries (ICT, health and auto, that also increased significantly net sales, while the overall fall in net sales was mostly due low-tech sectors and in particular due to oil-related companies. The Software industry showed the highest R&D growth worldwide, led by global software firms. In addition, notable R&D growth of non-EU companies dominated by high-tech sectors (mostly by US and Chinese companies) while growth of net sales greatly varied across sectors and countries. Among top 50 R&D investors, there are 15 EU companies, same as in last ranking and 30 firms among top 100, one more than last year. The two top investors are Volkswagen (€13.6bn) in 1st place and Samsung (€12.5bn) from KOR in 2nd. The other firms in top-ten are Intel, Alphabet and Microsoft (€11.0bn) from the US; Novartis (€9.0bn) and Roche (€8.6bn) from Switzerland; Huawei (€8.4bn) from China; Johnson & Johnson (€8.3bn) from the US and Toyota Motor (€8.0bn) from Japan. |
| Keywords: | Industrial R&D, top R&D investors, innovation, company performance, economic and innovation performance |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc103716&r=acc |
| By: | Yuliya Borovkova (Russian Presidential Academy of National Economy and Public Administration, Chelyabinsk branch) |
| Abstract: | The article considers the development of the tax system in Russia as an institution from the early 90s. The author analyzes problems of theoretical character as well as those arising when introducing legislative innovations into practical activity |
| Keywords: | taxation, institution, tax system, tax code, tax monitoring |
| JEL: | K0 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:ch1634&r=acc |
| By: | Nathalia Rios Ballesteros; Thomas Goda |
| Abstract: | Natural resource-seeking foreign direct investment (FDI) rose substantially during the last two decades as global commodity prices soared. This type of FDI typically is expected to improve the current accounts of recipient countries. Notwithstanding the commodity boom, however, current account balances of many commodity-producing developing economies were negative during 1995–2013. Considering 31 commodity-producing countries, we find that the average net effect of a 1% increase in natural resource-seeking FDI was a 0.23% decline in the current account (measured as percentage of GDP). This surprising result can be explained by the repatriation of profits. |
| Keywords: | Foreign Direct Investment (FDI); net primary income (NPI); profit repatriation; current account; balance of payments; natural resources |
| JEL: | F21 O11 O24 |
| Date: | 2017–01–24 |
| URL: | http://d.repec.org/n?u=RePEc:col:000122:015298&r=acc |
| By: | Ilaria Piatti (University of Oxford); Fabio Trojani (University of Geneva and Swiss Finance Institute) |
| Abstract: | Conventional tests of present-value models over-reject the null of no predictability. In order to better account for the intrinsic probability of detecting predictive relations by chance alone, we develop a new nonparametric Monte Carlo testing method, which does not rely on distributional assumptions to aggregate the information from the time series of price-dividend ratios and dividend growth. We find evidence of return predictability, but no apparent evidence of dividend growth predictability in postwar US data, thus reconciling the diverging conclusions in the literature. Our findings are robust to the specification of the predictive information set, the choice of the sample period and the use of different cash-flow proxies. |
| Keywords: | Predictability, Predictive regression, Present-value model, State-space model, Bootstrap, Likelihood ratio test |
| JEL: | C12 C14 C22 G12 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp1242&r=acc |