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on Accounting and Auditing |
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Issue of 2017‒04‒16
seven papers chosen by |
| By: | Ligia Alba Melo-Becerra (IHEID, Banco de la República, Bogotá, Colombia); Javier Ávila Mahecha (Dirección de Impuestos y Aduanas Nacionales, Bogotá, Colombia); Jorge Enrique Ramos-Forero (Banco de la República, Bogotá, Colombia) |
| Abstract: | The paper assesses the role of taxes on investment in Colombian firms. The analysis is carried out at the firm level for the period 2003-2014. During this period, the national government set five different tax reforms, including changes in the statutory tax rates, tax credits and incentives for corporate investment. The effect of corporate taxation on investment is estimated by first determining the impact of taxation on the cost of capital by computing the effective marginal tax rates (EMTRs) at firm level. Then, we estimate the impact of the cost of capital on investment through a panel data regression. Endogeneity is controlled by an instrumental variable approach, simulating post-reform effective marginal tax rates under pre-reform firm characteristics. Results are robust with different control variables, although some significant differences by size and economic sector of the firm are found. |
| Keywords: | Corporate Taxes, Marginal Effective Tax Rate, Investment, Cash Flows |
| JEL: | H32 H25 C23 D22 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heidwp10-2017&r=acc |
| By: | Georgieva, Daniela |
| Abstract: | The process of planning the research activities that are included within the scope of an innovative project is a complex and multi-layered one. At the end of this process an intangible asset is developed. For the purposes of a successful innovation the intangible asset must be properly valued and priced. It is mainly associated with the proper accounting of the expenditures within the scope of R&D. The thesis that the author advocate is that for the proper accounting of the intangible asset it is important to clearly distinguish the activities that are included at the research and the development phase. The main objective of the paper is to distinguish the activities within the scope of R&D, by a comparison of the accounting standards used in the United States, Great Britain and Bulgaria. |
| Keywords: | research, development, basic research, applied research, accounting standards |
| JEL: | M40 M41 M48 M49 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:78272&r=acc |
| By: | Giuseppe Vitaletti (Università Tuscia) |
| Abstract: | According to Antonio Pedone, an important problem as regards taxation is the division among an ideal, a legal, an effective, and a perceived fiscal system, with the main difference between the ideal and the legal systems. This difference is very important in Italy: personal taxation is less than half with respect to what is expected. The differences can be explained going back to the tributary reform of the first seventy years of the past century. Here many problems arise, in particular from the attempt to make the tax system formally progressive. First of all the attempt has been a complete failure. Secondly there is the single taxation of interest, and the double taxation on income from firms - direct and through capital gains. Thirdly immigrants have to declare incomes from the real and financial capital of their original countries. Many other problems follow these. If the reform had not touched the imposable base, keeping it national, not only would these problems not have existed, but progressivity could also be substantially much higher than now. To obtain this, in the first place the social contribution has to be made progressive; secondly, only with that base is it possible to reduce rents: interests, extra big firms profits, and others. Even in indirect taxation, a more conservative approach was needed, placing Iva alongside a small purchases tax. It is possible therefore to construct a fiscal system which conjugates the distributive and allocative goals, including the containment of fiscal evasion. In this way the difference between the ideal and legal system would almost disappear. |
| Keywords: | Personal Taxation, Real Taxation, Social Contributions, Tax Evasion |
| JEL: | H20 H24 H26 |
| URL: | http://d.repec.org/n?u=RePEc:ipu:wpaper:54&r=acc |
| By: | Georgieva, Daniela |
| Abstract: | In the context of the changing economic environment it is very important university students to gain knowledge and skills that are essential for their future career and personal development. Nowadays it is very popular the idea of "learning by doing". This idea is already used in many scientific disciplines such as management, finance, tourism and others. On this basis, the main goal of the study is to analyze the feasibility of interactive training techniques in accounting subjects taught at the universities. The main object of the report is to analyze the most relevant teaching techniques based on the idea of Kolb’s learning styles. The following tasks are formulated in this report: 1. To analyze the concept of "learning by doing". 2. To bring out the most commonly used interactive methods of learning and to determine the possibility of their use in accounting subjects taught to students in universities, based on the model of Kolb. 3. To make opinions and recommendations for the use of the concept "learning by doing" in teaching accounting courses at universities. |
| Keywords: | learning by doing; accounting courses; university student; Kolb’s teaching model; interactive methods |
| JEL: | A2 M41 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:78035&r=acc |
| By: | Georgieva, Daniela |
| Abstract: | As a result of a new Bulgarian Accountancy Act, adopted in late 2015, public interest entities must prepare and publish a non-financial statement. The main objective of the paper is to analyze the existing definitions of the public interest entities and to develop a new one. In addition, the author of the paper aims to analyze the current legal framework regarding the structure and content of non-financial statement. The main object of the study are public interest entities. The main subject of the paper is the non-financial statement. |
| Keywords: | non-financial statement, public-interest entities, content, publication, activity report |
| JEL: | M41 M48 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:78015&r=acc |
| By: | Nihal Bayraktar |
| Abstract: | Tax simplification has always been in the agenda of policymakers to increase the efficiency of the tax system and tax compliance burdens for taxpayers. At the same time, less complex tax systems can contribute to higher tax revenues with minimum negative distortions to economies. The link between tax simplification and tax efficiency is especially important for policymakers in the era of high government budget deficits, which require collecting higher tax revenues. In the literature, empirical studies on this link between simpler tax systems and tax efficiency are considerably limited. The aim of this paper is the empirical study of the impact of tax simplification on the efficiency of tax systems in a cross-country setting. Simpler tax laws contribute to more efficient administration with less discretion leading to greater efficiencies in tax collection. Similarly, lower corruption associated with simpler tax systems is also expected to yield higher tax efficiency and revenues. The main statistical tools will be regression analyses in addition to graphical and tabular analyses. In the regression specification, tax efficiency will be a function of tax simplification indicators and control variables. The control variables will be selected from macroeconomic, demographic, or institutional variables which can determine the tax effort of countries. Possible control variables can be trade openness, growth, the size of shadow economy, the quality of governance and institutions, population, and macroeconomic stability. A panel dataset will be used in the paper. Around 100 developed and developing countries from different regions of the world will be included in the study. The dataset will cover the years from 2002 to 2012. Tax efficiency (tax effort) will be introduced using two alternative measures: a traditional regression approach and stochastic frontier analysis. Tax simplification will be measured by Time to Comply and Number of Payments from the Doing Business Indicators Database, and tax corruption will be generated from the Enterprise Surveys Database. We expect that the outcomes of the proposed paper can have useful policy implications. It is expected that tax complexity has important impacts on the efficiency of tax systems of countries, but the empirical evidence on this issue is very limited in the literature. The expected outcomes can place numerical values on the possible impact of tax simplification on effectiveness of tax collection systems. |
| Keywords: | Around 100 developed and developing countries from different regions of the world will be included in the study., Tax policy, Public finance |
| Date: | 2016–07–04 |
| URL: | http://d.repec.org/n?u=RePEc:ekd:009007:9100&r=acc |
| By: | Banerjee, Ritwik (Indian Institute of Management); Mitra, Arnab (Portland State University) |
| Abstract: | The paper studies the relative effectiveness of extrinsic monetary disincentives and intrinsic non-monetary disincentives to corruption. In doing so, we also test the Beckarian prediction that at the same level of expected payoff, a low probability of detection with high penalty is a stronger deterrent to corruption than a high probability of detection with low penalty. In Experiment 1, two treatments are designed to study the effect of a low probability of detection with high penalty, and a high probability of detection with low penalty, on bribe taking behavior in a harassment bribery game. In Experiment 2, subjects participate in the same baseline harassment bribery game either without or after having gone through a four-week ethics education program. Results show that a) a low probability of detection with high penalty reduces both the amount and the likelihood of bribe demand, b) a high probability of detection with low penalty has no effect on bribe demand behavior, c) normative appeals of ethics education has a small effect on the likelihood but not on the amount of bribe demand, when measured immediately after the intervention, d) the effect of ethics education vanishes when measured four weeks after the intervention, e) extrinsic monetary intervention, particularly low probability of detection with high penalty, is more effective than normative appeal driven non-monetary intervention that aim to increase intrinsic moral cost, f) analysis of belief about acceptability of bribe demand indicates that the underlying channels through which monetary and non-monetary interventions work are very different. |
| Keywords: | corruption, harassment bribes, penalty, probability of audit, ethics education |
| JEL: | C91 C92 D03 K42 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10608&r=acc |