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on Accounting and Auditing |
| By: | Nina Boyarchenko; Kinda Cheryl Hachem; Anya V. Kleymenova |
| Abstract: | A large literature at the intersection of economics and finance offers prescriptions for regulating banks to increase financial stability. This literature abstracts from the discretion that accounting standards give banks over financial reporting, creating a gap between the information assumed to be available to regulators in models of optimal regulation and the information available to regulators in reality. We bridge insights from the economics, finance, and accounting literatures to synthesize knowledge about the design and implementation of bank regulation and identify areas where more work is needed. We present a simple framework for organizing the relevant ideas, namely the externalities that motivate bank regulation, the rationales for allowing accounting discretion, and the use of discretion to circumvent regulation. Our takeaway from reviewing work in these areas is that academic studies of bank regulation and accounting discretion require a more unified approach to design optimal policy for the real world. |
| JEL: | D62 E44 G21 G28 M41 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34241 |
| By: | Karri Vuoristo |
| Abstract: | The paper examines the effects of a value-added tax (VAT) withholding regime implemented in Uganda using administrative data from the Uganda Revenue Authority. By using modern two-way fixed effects models, the research estimates the dynamic effects and finds that firms increase their reported outputs by approximately 17.8 per cent and that the estimated value added increases by around 35 per cent. The study finds no effect on reported inputs and offers suggestive evidence that the positive effect found in outputs and value added might not be persistent across time. |
| Keywords: | Taxation, Tax compliance, withholding VAT, Uganda |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2025-63 |
| By: | Belhaj Zineb (USMBA - Université Sidi Mohamed Ben Abdellah [Fès], FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès); Nmili Mohamed (FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès, USMBA - Université Sidi Mohamed Ben Abdellah [Fès]) |
| Abstract: | Taxation is a fundamental pillar of the social contract, embodying the link between the state and its citizens. It relies on voluntary compliance by taxpayers, based on principles of solidarity, fairness, and legality. However, this cooperation is now being undermined by the proliferation of tax non-compliance, whether it be illegal fraud or legally ambiguous practices such as tax evasion or aggressive tax optimization. These forms of transgression, grouped under the concept of tax deviance, contribute to the erosion of the legitimacy of the tax system and weaken trust in public institutions. Far from being limited to simple transgression of tax rules, tax deviance encompasses a variety of behaviors influenced by economic, social, institutional, and psychological factors. The main determinants identified include the perception of tax inequity, the complexity of tax systems, the individual characteristics of taxpayers (level and source of income), and the incentives arising from tax rates and control and penalty mechanisms. From this perspective, the article adopts a qualitative approach based on a narrative review of the literature, aiming to provide a critical synthesis of existing work by highlighting the interaction of these variables in a logic where taxpayers arbitrate between compliance and non-compliance. Keywords : Tax deviance, tax fraud, determinants |
| Abstract: | La fiscalité constitue un pilier fondamental du contrat social, incarnant le lien entre l'État et ses citoyens. Elle repose sur une adhésion volontaire des contribuables, fondée sur des principes de solidarité, d'équité et de légalité. Cependant, cette coopération est aujourd'hui mise à mal par la multiplication des comportements de non-conformité fiscale, qu'ils relèvent de la fraude illégale ou de pratiques juridiquement ambivalentes comme l'évasion ou l'optimisation fiscale agressive. Ces formes de transgression, regroupées sous le concept de déviance fiscale, participent à l'érosion de la légitimité du système fiscal et affaiblissent la confiance envers les institutions publiques. Loin de se limiter à la simple transgression des règles fiscales, la déviance fiscale englobe une diversité de comportements influencés par des facteurs économiques, sociaux, institutionnels et psychologiques. Les principaux déterminants identifiés incluent la perception d'iniquité fiscale, la complexité des dispositifs fiscaux, les caractéristiques individuelles des contribuables (niveau et source de revenu), ainsi que les incitations découlant des taux d'imposition et des mécanismes de contrôle et de sanction. Dans cette perspective, l'article adopte une approche qualitative fondée sur une revue narrative de littérature, visant à proposer une synthèse critique des travaux existants en mettant en lumière l'interaction de ces variables dans une logique où les contribuables arbitrent entre conformité et fraude selon une évaluation rationnelle des coûts et bénéfices |
| Keywords: | African Scientific Journal, Déviance fiscale, Fraude Fiscale, Détérminant |
| Date: | 2025–08–16 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05224913 |
| By: | Kristoffer Berg |
| Abstract: | As corporate income tax rates have fallen across the world, other capital taxes become more important. This paper studies the choice between income taxation at the corporate and shareholder level. I develop a sufficient-statistics framework to determine optimal tax reforms. The main result is that when the incidence of the corporate income tax on workers is higher than that of shareholder income taxes, lowering the former and reducing the latter is typically optimal. In a policy application, I derive optimal reform directions for corporate and shareholder income taxes for a large and a small economy. |
| Keywords: | corporate income tax, dividend taxes, optimal capital taxation |
| JEL: | F21 H21 H22 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12149 |
| By: | Klaus Friesenbichler; Agnes Kügler |
| Abstract: | We study the short- and medium-term extensive and intensive margins of intangible investments in firm growth processes. The intensive and extensive margins of investment are both highly skewed and differ across sectors. Less productive firms are less likely to invest in intangibles, while incorporated firms are more likely to do so. Intangible capital only complements physical capital for a limited number of firms. Intangible investment is positively associated with short-term productivity growth, particularly among firms that consistently invest over time. The medium-term effects on productivity are limited and are largely confined to top-performing firms. We find systematic short-term effects of intangible investment on employment growth. Regular investment patterns correlate with higher employment growth over both time horizons. These results challenge the conventional assumption that intangible capital uniformly enhances firm performance. They also highlight the importance of sustained investment behavior and sectoral context. |
| Keywords: | intangible capital, employment, productivity, investment, firm growth, sample selection, Austria, microdata |
| Date: | 2025–09–17 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2025:i:711 |
| By: | Muellbauer, John |
| Abstract: | This note complements the 'Q and A' dealing with common questions on the property tax proposal initially explained in a brief article in August 2025 in the Financial Times (see my longer article for more detail on the proposal). This note examines the expected tax revenues from implementing my property tax proposal, using a range of possible assumptions. These revenue estimates are compared with estimates of current council tax revenues from band G and H properties. My complementary policy suggestion of cutting stamp duty to a maximum rate of 5%, but retaining current allowances, is discussed in Question 14 in the accompanying Q & A document (also summarised in the conclusions). |
| Keywords: | council tax, housing, macroeconomics, property tax |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2025-18-a |
| By: | Rochelle M. Edge; Dan Li |
| Abstract: | This paper proposes an approach to enhance the Federal Reserve's readiness to undertake market-functioning asset purchases during Treasury market disruptions. It notes that by tilting the SOMA Treasury portfolio toward bills rather than maintaining a maturity structure proportionate to that of outstanding Treasury debt—often viewed as the most neutral portfolio—the Fed can create a larger volume of reinvestments each month that can serve as a “war chest” for undertaking market-functioning asset purchases. This structure of the SOMA Treasury portfolio enables market-functioning asset purchases to be made without expanding the balance sheet or increasing reserves. This avoids the need for close monitoring of reserves when asset purchases are eventually unwound, while also allowing for a clearer differentiation between asset purchases undertaken to support market functioning and asset purchases undertaken to ease financial conditions. Under reasonable assumptions, bills portfolio shares r |
| Keywords: | Bills-tilted portfolio; Financial stability; Central bank balance sheet; Treasury market functioning; Soma portfolio composition; Market-functioning asset purchases |
| JEL: | E44 E52 E58 G01 G12 G18 H63 |
| Date: | 2025–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgfe:2025-77 |