• 산업융합연구
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• 제8권1호
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• pp.49-64
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• 2010

Penalty tax of basic law that has been revised in December 30, 2006 has been amended to tax 40 percent on no report and under-reporting in unjustifiable way. This revision is a punitive regulation that reflects the national tax service's will to not sit back and watch taxpayers' intentional tax evasion by imposing a heavier tax burden, and it raised penalty tax rate that has been applied leniently compared to foreign countries. Therefore, this study examines how changes in penalty tax rate affected faithful tax report and in what level the punitive penalty tax rate should be legislated so that the effect of the penalty tax rate can be maximized by performing empirical analysis on the effect on income tax rate reporting standard of self-employed businesses before and after the time the penalty tax rate increased dramatically from 33.3% to 300% based on the items.

• 기술혁신연구
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• 제5권1호
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• pp.181-205
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• 1997

There has been considerable controversy over the impacts of the tax credit on R&D expenditures in many countries. Korea has adopted various kinds of tax credit system to stimulate private firm' R&D expenditures. Korean government, Recently, is trying to reform tax system to reduce tax credit programmes according to Uruguay Round agreement and in line with OECD policy standards. The purpose of this paper is to analyze the effectiveness of current tax credit system on technology innovation in Korea and derive some policy implications over tax reform. In this paper, firstly, I investigate the size of tax reduction effects from each program in theoretical models and simulate the actual rate of individual tax incentive to a unit of R&D expenditure. I find that theoretically the reserve fund for technology development program has given the largest tax reduction effects to private firms irrespective of the R&D incentive system reform. Tax credit on R&D expenditure also has been very effective instrument to firm's tax reduction. Secondly, I try to measure the effectiveness of tax credit through the estimation of effective margianl tax rate between with the system and without the system of credit on R&D expenditure during the tax credit reform periods. I find that the tax credit on R&D has lowered firm's investment cost since the system introduced. I also have strong results that there has been a positive relation between the fluctuation of firm's R&D expenditure and the change of effective marginal tax rate. I suggest that it is better to sustain the system of tax credit on R&D for a while to increase firm's R&D expenditure.

• 융합정보논문지
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• 제10권1호
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• pp.75-81
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• 2020

본 연구는 2009년 법인세율 인하 및 2018년 법인세율 인상 시점을 전·후한 기업의 회계이익, 과세소득, BTD의 연도별 차이를 분석하였다. 각 항목에 대한 연도별 ANOVA 분석을 실시하였으며, 등분산 검증 후 사후검증을 실시하였다. 연구결과는 다음과 같다. 첫째, 법인세율 인하시의 회계이익은 과세소득보다 많았으며 2008년도의 BTD가 다른 연도와 유의적으로 달랐다. 둘째, 법인세율 인상시의 회계이익은 과세소득보다 적었으며 2017년도의 BTD 역시 다른 연도와 유의적으로 달랐다. 즉, 법인세율 변화 시 기업은 세부담 경감을 위한 적절한 이익조정을 수행하고 있으며, 이로 인하여 법인세율 변화 직전 연도의 BTD는 다른 연도들과 차별성을 갖는 것으로 나타났다.

• 산업융합연구
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• 제2권1호
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• pp.23-46
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• 2004

Tax exhaustion effect hypothesis says that firms with low expected marginal tax rates on their interest deductions employ less debt in their capital structure. We use logit analysis to study how financing decision is related to tax after controlling non tax effects. We treat non debt tax shields as proxy of marginal corporate tax rates which affect the probability of using the deductibility of debt tax shields and empirically test the tax effect on financing decision in Korea. In conclusion, we provide evidence that debt financing is positively related to tax in the former sub-period. This results partially support for tax exhaustion effect hypothesis and low tax rate firms have lower debt levels than high tax rate firms.

• KDI Journal of Economic Policy
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• 제24권2호
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• pp.53-82
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• 2002

Earlier papers, regarding this topic, have shown that the optimal environmental tax rate under the second best situation typically smaller than that under the first best world, the well known Pigouvian tax. This paper casts a doubt on the generality of this result, since the conclusion was derived from the models which employed rather strict assumptions on the utility function, which is homothetic and separable. This paper, with simple-static CGE model, shows that the result of earlier studies is sensitive to the assumption on the utility function. According to the simulation results, as previous studies pointed out, if the utility function is assumed to be homothetic, the optimal environmental tax rate is smaller than the Pigouvian tax. In contrast, if certain type of non-homotheticity is allowed, the optimal environmental tax rate could be greater than the Pigouvian tax. The results of this simulation also imply that the enlargement of environmental tax base could enhance the efficiency of overall tax system. Hence, there will be a less burden to share for the tax authority from the policy change.

• The Journal of Asian Finance, Economics and Business
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• 제6권4호
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• pp.45-52
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• 2019

The current study aims to investigate the relationship between tax avoidance and firm risk in an emerging market called Iran. The study population consists of 400 observations and 80 companies listed on the Tehran Stock Exchange (TSE) over a five-year period during 2012 and 2016. The statistical model used in this study is a multivariate regression model; besides, the statistical technique used to test the hypotheses proposed in this research is panel data. The results showed that low effective tax rate (tax avoidance) is more consistent than the higher effective tax rate. Moreover, there is no significant relationship between tax avoidance and future tax rate volatility. The findings also proved that lower effective tax rates are positively associated with future stock price volatility. This implies that since Iranian firms have many financial problems because of economic sanctions, they have a tendency to delay the disclosure of bad news about their firms. Needless to say, when a huge number of negative news reaches its peak, they immediately will enter the market and lead to a remarkable fluctuation in stock prices.

• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.81-90
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• 2020

We examine the effects of the complexity of tax-related information on the issuance of analyst's pre-tax income forecast and its value relevance. If analysts respond adequately to the needs of investors, they are more likely to provide a pre-tax income forecast. The provision of a pre-tax income forecast may indicate analysts' confidence in assessing the quality of earnings. Thus, investors, in turn, would be more confident in the analysts' pre-tax income forecasts if analysts provide both pre-tax and earnings forecasts than only the latter. Using a sample of Korean listed companies for 2005-2014, we find that analysts are likely to provide an implicit tax forecast when the volatility of the effective tax rate is low and the book-tax differences are small. We also find that when analysts provide pre-tax and after tax income forecasts, the value relevance for unexpected earnings increases. These results indicate that analysts are likely to be interested in corporate tax information and the complexity of tax-related information affects the availability of implicit tax forecasts. Furthermore, this study provides empirical evidence that when analysts provide both pre-tax and after tax income forecasts, investors have more confidence in analysts' earnings forecasts, which results in greater investors' responses.

• 아태비즈니스연구
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• 제12권2호
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• pp.115-129
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• 2021

Purpose - This study aimed to clarify the effects of tax investigation probability on accounting transparency in KOSDAQ firms by using financial statement. In particular, it was analyzed whether the characteristics of a firm's listed market have a discriminatory effect on the relationship between the tax investigation selection rate (or detection rate) and earnings management. Design/methodology/approach - This paper examines analyzed the effect of tax investigation of the National Tax Service on the earnings management. The sample includes 9,603 firms listed on KOSPI and KOSDAQ from 2011 to 2018, all of which are manufacturing firms. This study conducted correlation and multiple regression analyses to verify the relationship between tax investigation probability and earnings management. The possibility of a tax investigation is the selection rate and the detection rate, and the profit adjustment was estimated at discretionary amount. Findings - As a result of empirical analysis, both firms listed on KOSPI and KOSDAQ markets showed that the higher the tax investigation rates, the more significant the possibility of reducing the earnings management of discretionary accruals. Additionally it was found that in KOSDAQ markets firms, the tax investigation detection rates had a signigicant nagative effect on discretionary accruals. Research implications or Originality - It can be interpreted that firms with a high rates of receiving a tax investigation decrease earnings management consideration of expenses such as additional tax amount due to the tax audit or a decline in corporate image.

• 자원ㆍ환경경제연구
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• 제32권4호
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• pp.217-238
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• 2023

현재 한국의 자동차세는 자동차의 배기량에 일정 세율을 곱해 부과된다. 그러나 현행 제도는 온실가스 감축이라는 당면 과제를 반영하지 못하고 있다는 지적을 받으며 개정의 필요성이 제기되고 있다. 이에 본 연구는 배기량과 CO₂ 배출량 간 확인되는 양의 관계에 주목하여, 평균 CO₂ 배출량을 고려한 자동차세의 적정 세율을 산출하고자 한다. 이를 위해 우선, 2020년 기준으로 자동차 배기량별 평균 CO₂ 배출량을 이용해 배기량별 연간 평균 CO₂ 배출량(kg/대) 을 추정하였다. 여기에 IMF(2019)가 제안한 CO₂ 배출량 1톤당 75달러를 기준세율로 고려해 복수의 시나리오를 분석했다. 특히, 균일한 75달러의 탄소세를 부과했을 때와 배기량별 CO₂ 배출량에 기반해 누진세를 부과했을 때를 비교했다. 분석 결과에 의하면, IMF가 제안한 기준세율을 한국에 그대로 적용하는 것은 세수 감소 등의 영향으로 쉽지 않으며, 현행 자동차세에 따른 세수 규모 유지, 온실가스 감축효과, 선진국의 자동차세 개편 동향 등을 고려해 정교하게 설계해야 한다는 점을 확인했다. 예를 들어, 한국에서 판매되는 대표적인 소형차량인 기아자동차의 K3(1,598cc)를 기준으로 현행 제도와 비교해보면, 현행 제도에서는 약 22만 원, IMF에 따른 동일세율과 누진세 부과 시에는 각각 약 7.9만 원과 약 8.3만 원, 영국 자동차세를 참고한 누진세 부과 시에는 약 24만 원 정도의 세금을 납부하게 된다. 이처럼 본 연구는 한국의 자동차 등록 현황 및 자동차세 현황, 주요 선진국의 자동차세 개편 동향을 파악해 차량 배기량과 CO₂ 배출량을 고려한 자동차 세제 개편의 영향을 국민의 조세부담을 중심으로 분석하였다.

• 자원ㆍ환경경제연구
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• 제9권2호
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• pp.393-420
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• 2000

Since the transportation taxes were imposed on gasoline and diesel in 1994 for the purpose of financing the special projects, such as the construction of highways or railroads, the rates have been frequently and rapidly changed in case of need to stabilize prices or secure public fund, contrary to its own purpose. This paper presents a theoretical model for a special purpose tax based on the minimization of the dead weight los incurred by the imposition of the tax. A computable static model for the tax rate is developed and estimated for a various range of target level of total tax rebenue. The results shows that, under tax revenue of 40 trillion won, the rates for the year of 1999 are 385.2 won for one liter of gasoline and 198.4 won for one liter of diesel. The estimated gasoline rate is no more than about 59% of the current rate. However, the rate for diesel turns out to be 24% higher than the current level.