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on Accounting and Auditing |
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Issue of 2018‒03‒05
six papers chosen by |
| By: | Hector Hernandez (European Commission - JRC); Nicola Grassano (European Commission - JRC); Alexander Tuebke (European Commission - JRC); Lesley Potters (European Commission - JRC); Sara Amoroso (European Commission - JRC); Mafini Dosso (European Commission - JRC); Petros Gkotsis (European Commission - JRC); Antonio Vezzani (European Commission - JRC) |
| Abstract: | The 2017 edition of the EU Industrial R&D Investment Scoreboard (the Scoreboard) comprises the 2500 companies investing the largest sums in R&D in the world in 2016/17. These companies, based in 43 countries, each invested over €24 million in R&D for a total of €741.6bn which is approximately 90% of the world’s business-funded R&D. They include 567 EU companies accounting for 26% of the total, 822 US companies for 39%, 365 Japanese companies for 14%, 376 Chinese for 8% and 370 from the rest-of-the-world (RoW) for 13%. This report analyses the main changes in companies’ R&D and economic indicators over the past year and their performance over the past ten years. It also includes results from additional complementary studies on companies’ productivity, their development of ICT-related technologies and scientific publication activity. |
| Keywords: | Industrial R&D, top R&D investors, innovation, company performance, economic and innovation performance |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc108520&r=acc |
| By: | Picciotto, Sol |
| Abstract: | The landscape of international corporate taxation will change significantly as a result of the G20/OECD project on base erosion and profit shifting (BEPS). The contours of this new terrain have become apparent since the publication of the main outputs of the project in October 2015.The BEPS outputs aim to strengthen the system and give better tools to tax authorities – if they have the capacity and will to use them. Overall, however, the proposals are a patch-up of existing rules, making them even more complex and dependent on technical expertise to administer. They do not tackle the more fundamental flaws of the system in a coherent way, but are an important first step on a longer road. It is therefore very important for African countries to inform themselves about the implications of the BEPS proposals, and to form their own views on which aspects may benefit them. |
| Keywords: | Governance, |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:idq:ictduk:13499&r=acc |
| By: | William C. Boning; John Guyton; Ronald H. Hodge, II; Joel Slemrod; Ugo Troiano |
| Abstract: | Tax enforcement may affect both the behavior of those directly treated and of some taxpayers not directly treated but linked via a network to those who are treated. A large-scale randomized field experiment enables us to examine both the direct and network effects of letters and in-person visits on withheld income and payroll tax remittances by at-risk firms. Visited firms remit substantially more tax. Their tax preparers’ other clients also remit slightly more tax, while their subsidiaries remit slightly less. Letters have a much smaller direct effect and no network effects, yet may improve compliance at lower cost. |
| JEL: | C93 H26 L14 |
| Date: | 2018–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24305&r=acc |
| By: | Yvan Guillemette; Andrea De Mauro; David Turner |
| Abstract: | The paper describes the framework used in long-term economic scenarios for the projection of the saving rate, investment, capital stock and current account. The saving rate is determined according to an estimated equation which suggests that demographics, captured by the old-age dependency rate and life expectancy, is a major driver, with additional effects from the fiscal balance, labour productivity growth, the net oil trade balance, the availability of credit and the level of social protection. The evolution of the business sector capital stock depends on the economy’s cyclical position, product market regulation, employment protection legislation and the user cost of capital, and may be constrained by current account deficits depending on the degree of capital account openness. Business sector investment is derived from the capital stock projection via the usual stock-flow identity. The public sector capital stock-to-output ratio is assumed to be constant in the baseline scenario, but a public investment shock can be simulated in alternative scenarios. The current account balance is obtained as the difference between national investment and saving, and in turn determines the evolution of the net international investment position. A global interest rate premium helps to bring global saving and investment into balance. |
| Keywords: | capital stock, current account, investment, long-term model, long-term scenarios, projection, Saving rate |
| JEL: | E21 E22 E27 F37 |
| Date: | 2018–02–23 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1461-en&r=acc |
| By: | Hiroshi Fujiki; Hajime Tomura |
| Abstract: | This paper simulates the cash flows and balance sheets of the Bank of Japan (BoJ) before and after exiting from Quantitative and Qualitative Monetary Easing (QQE) under various scenarios. The simulations show that the BoJ will record significant accounting losses after exiting QQE. These losses are fiscal costs for the consolidated Japanese government as they represent increased interest expenses to the public and will arise because the BoJ will acquire a large amount of Japanese government bonds at very low interest rates during QQE, whose interest payments will then be insufficient to cover interest expenses on excess reserves after exiting QQE. Moreover, any cumulative accounting losses will ensure the BoJ's net asset position remains negative for a sustained period of time. We also find that the BoJ's accounting losses will increase with the duration of QQE and the interest rate elasticity of banknote demand, and decrease if the BoJ conducts tapering following the ending of QQE. Finally, the effect of tapering will be significantly stronger if there is no safety channel for the long-term interest rate.Length: 51 pages |
| URL: | http://d.repec.org/n?u=RePEc:tcr:wpaper:e99&r=acc |
| By: | Prichard, Wilson |
| Abstract: | In practical terms most property tax reforms are, first and foremost, efforts to increase tax revenue. But the ultimate goal of tax reform is, of course, broader: expanding tax revenue in order to finance the provision of valuable publicly-provided goods and services. Tax reform is only socially desirable if tax revenue is, in fact, translated into improved public outcomes. Otherwise taxation amounts to little more than the extraction of revenue from taxpayers. Tax reformers are correspondingly faced with a simple question: is the revenue from tax reform actually likely to be translated into publicly-provided goods and services? Perhaps more importantly, could property tax reform programmes be designed explicitly to increase the likelihood that revenue will be translated into valued publicly-provided goods and services? Rather than only raising more revenue, tax reformers may have the power to proactively shape the quality of public spending. |
| Keywords: | Governance, |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:idq:ictduk:13525&r=acc |