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This article provides a framework for explaining professional action in multi‐jurisdictional tax and finance environments, focusing on how relationships between clients, professionals, and regulators shape market structures. Given the complexity of tax and financial regulations within and across national systems, professionals experienced in accounting, financial, legal, and policy systems have opportunities...
Research background: There are various forms of fiscal taxation of the financial assets. In recent times, the discussion about financial transaction tax in the EU is associated with finding the solution to problems due to great financial crisis. The European Commission has made some efforts to strengthen capital regulation and it has adopted the Directive about implementing enhanced cooperation in...
“Big data” is a term that is widely used by large corporations today. With access to a vast infrastructure and a large collection of personal information that is not publicly available, the United States of America (US) is able to complete researches and projects that are out of the reach of most countries and corporations. This paper will examine three US companies that have successfully utilized...
“Big data” is a term that is widely used by large corporations today. With access to a vast infrastructure and a large collection of personal information that is not publicly available, the United States of America (US) is able to complete researches and projects that are out of the reach of most countries and corporations. This paper will examine three US companies that have successfully utilized...
The 16th Annual Conference on Finance and Accounting (ACFA Prague 2015) is organized by the Faculty of Finance and Accounting, University of Economics, Prague (http://ffu.vse.cz/english/). The Faculty highly promotes international research cooperation and the Annual Conference offers an opportunity for researchers to present their work both in early and final stage of research. The second aim of the...
In this paper, we extend the martingale analysis of no-arbitrage pricing with transaction costs, bid-ask spreads and taxes. We establish the equivalence of a no-arbitrage condition for the existence of different shadow prices of certain optimal problems and obtain a characterization of state prices based on the absence of arbitrage.
Nowadays, some enterprises have multiplicative ways of going about tax evasion, which becomes one puzzle in tax inspection. Tax inspectors to carry out rapid and accurate work have become extremely important. The traditional inspection case-selecting is mainly based on reported information. This method to judge the delineation of the characteristics of those unscrupulous taxpayers largely depends...
While making profit plan, the multinational corporations often reduce the profits of enterprises with heavy taxation burden according to taxation burden of subsidiaries, and transfer the reduced profits to the enterprises in which the taxation burden is light. This simple complementary approach to profit planning is not only constrained by the restriction of the volume of business between subsidiaries...
This paper empirically tests Levine's [1] endogenous growth model, which suggests that stock market and tax policy jointly affect economic growth. Following Levine [1], tax or impeding financial market activities have the potential to lower per capita growth rate. Using monthly data from 1980 to 2008, the relationship between tax revenue, stock market as proxies by direct tax revenue and KLCI respectively...
This empirical study is obviously to identify what knowledge should be included in the curriculum so that accounting students would be adequately prepared for future roles in the profession. The respondents for this study are from accounting practitioners such as business enterprise, government sector and chartered public accountant firm whilst academics from Malaysian public universities. The objective...
Environmental taxation system generally refers to all taxes imposed in order to achieve certain environmental objectives. To introduce a carbon tax is imperative in China because it will perfect China's environmental taxation system, mitigate China's pressure of CO2 emission, establish the image of China as a responsible power, change China's economic growth pattern, and respond to the international...
This paper develops a flow-stock model of housing market to investigate the impacts of property tax, supply and demand elasticity upon housing price. The model indicates that the imposition and escalation of the property tax will cause housing price fall in the event that the elasticity of supply is greater than that of demand and vice versa. Using the housing market data of 33 large and medium cities...
Project Investment of enterprises plays an important role in enterprise's economic growth. Tax policy is an effective means of macro-control. Highly developed market economy pushes enterprises into more intense competition in the market. In order to promote the better development of enterprises, the state has introduced a number of related tax policies. This paper analyses the impact of tax policy...
On the basis of identifying macroscopic tax burden rate, income tax rate and type of dual tax exemption as the three major indices, this paper brings forward a new approach of fuzzy cluster analysis for tax planning for location of foreign direct investment. As one of the fuzzy decision approaches, the fuzzy cluster analysis makes use of fuzzy equivalent relation to classify the objects into different...
With the global warming, how to reduce greenhouse gas emissions of CO2 mainly has become the focus of global discussion. Many economists proposed that if carbon tax is imposed according to the carbon content of traditional fossil fuel used in production, it will reduce carbon dioxide emissions. In fact, some countries have started to practice. The paper uses Environmental Kuznets Curve (EKC) to analyze...
The researches on overinvestment problem for domestic enterprise were done which did not consider the institution impact. However, the institution indeed makes influence on the corporate investment. Some researches show that the companies would over-invest more than others which are controlled by the government. Unfortunately, these documents did not explain the causes of overinvestment, which one...
Based on the tax burden, book value of fixed assets, depreciation, income and cash flow, this paper analyzes the influence on the taxpayer's balance sheet, income statement, cash flow statement and statement of change in equity of the VAT reform in China. For the given amount of purchased fixed assets, the result shows that the VAT reform will reduce the tax burden, decrease the book value of fixed...
In the context of the economic crisis, China should actively encourage e-commerce, to promote employment, expanding domestic demand. But At present, there are still loopholes and gaps in tax collection on China E-commerce, for example, there is confusion in the use of network transactions tax policy, Regulations are not sound, e-commerce is difficult international, lack of special tax incentives,...
This paper is based on the scarcity rent theory which emphasizes the resources price should consist of marginal cost of winning, marginal User Cost(scarcity rent)and marginal social cost. guided by this theory, having a bird eye on the foreign resources tax system, we found that the design of Chinese resources tax system was so fragmentary, rent dissipation is very serious. To change the present condition,...
Recently, the speed of the tax revenue is far faster than the economy's in China. There are some reasons. The first is the economic factors, including the proportion of the industry with low levy is decreasing, and there will be some time lag from economic growth to tax'. The second is the institution factors, especially the statistic system, such as the non-tax GDP, the statistic methods of imports...
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