Search results for "TAXATION"
showing 10 items of 80 documents
The cost of equity and exchange listing evidence from the French stock market
1997
We reconsider the behaviour of prices around the period close to the listing on the Marché à Règlement Mensuel (RM). First, an event study based on a sample of 60 firms has been set up to test the existence of the exchange listing effect on the French market. Then we discuss and test the financial reasons which can justify abnormal returns around the announcement day and the day of the listing. We explore four reasons to explain the impact of the stock exchange listings: one is the informative content of the operation which induces an upward revision of the future earnings. Three other hypotheses rely on a decrease in the discount rate originated by less risky cash flows, an increase in tra…
Tax Evasion and Tax Progressivity
2003
In a pure tax evasion framework in which the monetary penalty is a function of the evaded tax, more progressive income taxes will reduce tax evasion if income has to be declared. However, if tax payments have to be declared, higher tax progressivity will have no effects. Thus, the relationship between tax evasion and tax progressivity depends on whether income or taxes have to be divulged to tax authorities. If the fine is a function of undeclared income, higher tax progressivity will always raise evasion.
Tax evasion, tax progression, and efficiency wages
2004
Abstract More progressive taxes raise employment in imperfect labour markets. However, this prediction is not robust. For example, any employment effect vanishes in a constant profit efficiency wage economy. It is demonstrated that tax evasion opportunities can re-establish positive employment effects of higher tax progression.
Corporate hedging under a resource rent tax regime
2010
Accepted version of an article in the journal: Energy Economics. Published version available on Science Direct: http://dx.doi.org/10.1016/j.eneco.2009.10.009 In addition to the ordinary corporate income tax, special purpose taxes are sometimes levied to extract abnormal profits arising from the use of natural resources. Such dual tax regimes exist in Norway for oil and hydropower, where the corresponding special purpose tax bases are unaffected by any derivatives payments. Dual tax firms with hedging programs therefore face the risk of potentially large discrepancies between the tax bases for corporate income tax and special purpose tax. I investigate how this tax base asymmetry influences …
- STRATEGIC PIGOUVIAN TAXATION, STOCK EXTERNALITIES AND POLLUTING NON-RENEWABLE RESOURCES
2001
This paper extends Wirl and Dockner¿s (1995) model designed to analyze the long-term bilateral interdependence between a resource exporting cartel and a coalition of resource importing country governments. Firstly, depletion effects are introduced into the analysis of the intertemporal properties of a pigouvian tax. Secondly, the feedback Stackelberg equilibria are computed. The results show that the dynamics of the tax depends critically on the level of the marginal environmental damage. Moreover, they also show that the tax defined by the Markov-perfect Nash equilibrium is a neutral pigouvian tax in the sense that it only corrects the market inefficiency caused by the stock externality. H…
Las sociedades arrendatarias de los impuestos municipales de Valencia (1410-1450)
2017
La ciudad de Valencia había consolidado su sistema fiscal a finales del siglo XIV. El arrendamiento de los impuestos indirectos desempeñó un papel clave en ese sistema, mediante un procedimiento de subasta pública. Durante la primera mitad del siglo XV, se confirmaron dos procesos relacionados: la monopolización de los arrendamientos por parte de una élite financiera, que a la vez retenía los cargos contables municipales; y la tendencia a la baja de los precios de los arrendamientos, en detrimento del sistema económico municipal. La combinación de documentación pública y privada permite ampliar el conocimiento sobre la organización de aquellas sociedades arrendatarias. The city of Valencia …
Exercices de fiscalité des entreprises - Édition 2020-2021
2020
33e édition; National audience
Knowledge Mapping of Optimal Taxation Studies: A Bibliometric Analysis and Network Visualization
2022
The problem of tax policy design has been an important concern over the years, involving comprehensive scientific research. In this study, our major goal was to examine and map the optimal taxation research thematic structure by using bibliometric analysis. The analysis was carried out with the CiteSpace software on publications indexed by Web of Science (WoS) between 1975 and 2021. This document offers an actual bibliometric analysis of the current research climate in terms of optimal taxation, based on the following aspects: (1) descriptive characteristics of publication outputs (distribution by years, authors, countries, journals); (2) collaboration analysis of authors, institutions, and…
A glimpse of the limits of the European economic governance through the legislative and jurisprudential route of the "after-Weimar" German "economic …
2020
El objetivo de esta investigación es reconstruir los límites de la gestión de las finanzas públicas en la Unión Monetaria Europea, utilizando la perspectiva del camino de la "constitución económica" alemana posterior a Weimar. El proceso federativo de la UE no presenta las mismas características legales de ningún otro, incluido el alemán. Sin embargo, algunos problemas son necesariamente similares y similares soluciones se pueden encontrar. En consecuencia, esto documento se centra en la sucesión de reformas en la governance económica europea desde 2008 analizando, en particular, el tema de compartir las obligaciones de la deuda a nivel europeo, esto a través del diálogo entre el Bundesverf…
Dysfunctionalities of Faulty Fiscal Inspections for Tax Payers: The Case of Detachment for Work Reasons
2014
Abstract This article does not merely suggest a short comparison between two completely opposed opinions, that of the fiscal inspectors and that of the specialists (accountants, accounting experts, fiscal consultants) that are hired and/or are contract-bounded staff of a commercial entity, regarding the fiscal status of detachment (an aspect that is regulated by internal and international normative acts). It intends, therefore, to be an analysis on the danger of dysfunctionalities of a fiscal inspection on the activity of the tax payers (or simply put the abridged interpretation of the legislation, in order to attract large amounts of money to the state budget by any means), in order to per…