Suchergebnisse

Traditional models of capital budgeting including taxes are based on deterministic tax rates and tax bases. In reality, however, there are multiple sources of tax uncertainty. Tax reforms induce frequent changes in both tax rates and tax bases, making future taxation of investments a stochastic process. Fiscal authorities and tax courts create additional tax uncertainty by interpreting current tax laws differently. Apart from fiscal tax uncertainty, there is modelspecific tax uncertainty, because investors use simplified models for computing an investment project's tax base and anticipate the actual tax base incorrectly. I analyze the effects of stochastic taxation on investment behaviour in a real options model. The potential investor holds an option to invest in an irreversible project with stochastic cash flows. To cover the combined effects of tax base and tax rate uncertainty, the investment's tax payment is modelled as a stochastic process that may be correlated with the project's cash flows. I show that increased uncertainty of tax payments has an ambiguous impact on investment timing. Thus, the popular view that tax uncertainty depresses real investment can be rejected. For low tax uncertainty, high cash flow uncertainty and high correlation of cash flows and tax payment, increased tax uncertainty may even accelerate investment. A higher expected tax payment delays investment. Surprisingly, a higher tax rate on interest income affects investment timing ambiguously.

Traditional models of capital budgeting including taxes are based on deterministic tax rates and tax bases. In reality, however, there are multiple sources of tax uncertainty. Tax reforms induce frequent changes in both tax rates and tax bases, making future taxation of investments a stochastic process. Fiscal authorities and tax courts create additional tax uncertainty by interpreting current tax laws differently. Apart from fiscal tax uncertainty, there is modelspecific tax uncertainty, because investors use simplified models for computing an investment project's tax base and anticipate the actual tax base incorrectly. I analyze the effects of stochastic taxation on investment behaviour in a real options model. The potential investor holds an option to invest in an irreversible project with stochastic cash flows. To cover the combined effects of tax base and tax rate uncertainty, the investment's tax payment is modelled as a stochastic process that may be correlated with the project's cash flows. I show that increased uncertainty of tax payments has an ambiguous impact on investment timing. Thus, the popular view that tax uncertainty depresses real investment can be rejected. For low tax uncertainty, high cash flow uncertainty and high correlation of cash flows and tax payment, increased tax uncertainty may even accelerate investment. A higher expected tax payment delays investment. Surprisingly, a higher tax rate on interest income affects investment timing ambiguously.

Some local governments solicit voluntary Payments in Lieu of Taxes (PILOTs) from nonprofit organizations. PILOTs are intended to substitute for property and other taxes nonprofit entities do not pay even though they consume local government services. The diffusion of PILOTs to other jurisdictions depends in part on local government financial managers' knowledge and perceptions. Using a mail survey of local government financial managers, this study explores factors that explain the use and solicitation of PILOTs. Jurisdictions where local government financial managers do not view administrative and political costs as greater than benefits of revenue are more likely to have and solicit PILOTs. Proximity to other jurisdictions that have a PILOT make it more likely a jurisdiction will consider soliciting a PILOT. However, perceived stakeholder support for the tax exempt status of the nonprofit sector makes a jurisdiction less likely to consider soliciting PILOTs.

Abstract. Taxeses paying performing region and restribusi, performed basesdemocracy principle, generalization and justice, society role where also been seen ofmarks sense potency that region. Directly which is not society get reward fromgovernment but society of followed to enjoy taxes facility with utilize public utilityalready is of service. One of taxes which indirectly been paid while expense isrestaurant taxes. This writing intentionally to first, giving picture to society, togovernment has authority to do taxes picking and second, society is made as taxpayer.Regulation that manages about this taxes is Statute Number 28 Years 2009 aboutRegion Taxes And Restribusi Is Regions. Method observationaling to have functionas guidance in observational. Research is done that this writing gets to be utilized bycommon society. Observational method that is utilized is empirical research. There isdata analysis even of this writing which is ala utilizes descriptive kualitatif. Data sourceto prop research working out is primary data source, skunder and tertiary.LocationReaserch in Badan Pengelolaan Pajak Dan Restribusi Daerah inisial is BP2RD. Firstobservational result, local government that have task to do taxes picking have powerand kewenangan does taxes picking because of be managed in prevailing regulation;both of, society that goes along to enjoy public utility, well that frequent utilizes or eventhat rare utilizes, under obligation also to pay taxes.

Globalisation and the digital economy have revolutionised the world's markets and international transactions, some of which manage to escape national jurisdictions and bilateral treaties between States. With the lack of multilateral agreements, certain taxpayers, multinationals in particular, have managed to slip through the net of individual countries' tax regulations and been able to reduce their tax payments. To resolve tax disputes between taxpayers and States, with the chief goals of avoiding double taxation and not being subject to any tax jurisdiction, a number of multilateral measures have been instituted, including -amongst other mechanisms- binding international tax arbitration proceedings. The OECD and the EU are fostering the implementation of such measures, whose goal is to prevent tax avoidance and achieve a fair spread of tax burdens on an international level.

Local tax can be defined as tax collected by district government. Local Income was significant contributed to the attainable of district APBD value. On behalf of that goal, the regulation reform always be done for adjusting to economic dynamic nor ignoring public justice and The economic ability of public. Hotel tax is one of the local taxes which can improve local income. Moreover, hotel tax is collect based on the profit motive business activity. There were some difference regulation between Law No. 18/1997 on Local tax and retribution as changed by Law No.34/2000 about tax reform Law No. 18/1997 on local tax and retribution Local tax which concern of hotel tax has an important role to local income, on the other hand due to collect Hotel tax, the local regulation as collection basis is necessary. So that local government should prepare local regulation about hotel tax beginning by compilethe academic draft

Purpose
This paper aims to examine whether tax disclosure in Global Reporting Initiative (GRI)-based sustainability reporting mitigates aggressive tax avoidance.


Design/methodology/approach
This study uses a multiple regression method for 714 nonspecially taxed firms listed on the Indonesia Stock Exchange in 2014–2018.


Findings
The findings demonstrate that disclosing tax payments in GRI-based sustainability reports reduces aggressive tax avoidance. Additional analysis indicates that the number of GRI-based sustainability reports positively affects aggressive tax avoidance. However, disclosing tax payments in multiple GRI-based sustainability reports negatively affects aggressive tax avoidance.


Originality/value
Recent prior studies demonstrate that aggressive tax avoidance does not indicate an organizational culture that devalues corporate social responsibility. This paper argues that firms cannot find the link between tax and corporate social responsibility when tax payments are not incorporated in sustainability reports. GRI considers tax a sustainability issue and seeks to institutionalize this concept by recommending that firms disclose taxes in their sustainability reports. This research analyses whether disclosing taxes in GRI-based sustainability reports may serve as a form of soft law by convincing firms that tax is a sustainability issue, thereby reducing their tax avoidance. This topic has received little attention in previous research.

In the context of recent state budget shortfalls and the repeal of the Boren Amendment, state Medicaid expenditures for nursing home care were considered a potential target for payment cuts. The authors examine this issue using data from a survey of state nursing home payment policies. Results indicate that aggregate inflation-adjusted Medicaid payment rates steadily increased through 2004, and this growth is partly attributable to the adoption of nursing home provider taxes in many states. A recent proposal to cap provider taxes, if enacted, may lead to a decrease in Medicaid payment rates for nursing home care.