Penelitian Pajak 04112019 - Blog Staff

Penelitian

Pajak

Agenda

Jenis Penelitian Pajak Jenis Penelitian Pajak

Penelitian Pajak - Teori Penelitian Pajak - Teori

Contoh Penelitian Pajak Contoh Penelitian Pajak

2

Jenis Penelitian

Menetapkan kebijakan Menganalisis penerapan

Mengevaluasi kebijakan Menganalisis perubahan kebijakan

Terapan

Kepatuhan pajak

Penghindaran pajak

Anti penghindaran pajak Governance

Teori

Penelitian Pajak

• Penelitian pajak sebelum pertengahan 1980 menurut Shackelford dan Shevlin (2001) dikategorikan menjadi:

– legal research,  mengevaluasi efek pajak pada transaksi dan biasanya dipublikasikan pada jurnal hukum; dan

– policy studies,  mengevaluasi dampak perekonomian, biasanya dipublikasikan di jurnal akuntansi publik.

• Riset pajak mulai banyak dijumpai dalam jurnal akuntansi seperti TAR, JAR, JAE.

• Riset pajak bersifat multidisipliner sehingga dikaitkan dengan makro ekonomi, perilaku, kebijakan publik 

National Tax Journal, Journal of Public Economics, Journal of Accounting and Public Policy

4

Obyek Penelitian Pajak

PAJAK

Hak / Kewajiban Negara

(ASP / MAKRO)

Kewajiban Perusahaan

(AK) Kewajiban

Individu

5 Lokal – Nasional - Internasional

Lokal – Nasional - Internasional

Penelitian Pajak - Negara

6

• Tarif

• Dampak pajak terhadap pertumbuhan ekonomi – fungsi fiskal

• Insentif pajak

• Pajak dan konsumsi masyarakat

• Pajak dan investasi

• Fungsi regular

• Jenis pajak dan dampaknya

• dll

Negara – Kebijakan fiskal

Penelitian Pajak – Institusi Pemungut Pajak

7

• Kegiatan Pemungutan

• Sosialisasi

• Pemeriksaan

• Penetapan

• Banding

• Organisasi

• SDM

• Struktur organisasi

• Kepatuhan petugas pajak

• Dll

Institusi Pemungut Pajak

Penelitian Pajak – Wajib Pajak Orang Pribdai

8

• Kepatuhan

• Menganalisis kepatuhan terhadap regulasi – pendaftaran, pelaporan, pembayarna, pelaporan

• Penilaian WP terhadap regulasi

• Pemeriksaan dan penetapan

• Banding

• Analisis dampak perubahan kebijakan baru

• Tax amnesty

• E-filling

• TP Doc

• Persepsi WP

• Dll

Orang Pribadi

Penelitian Pajak – Wajib Pajak Orang Pribdai

9

• Persepsi pengelola Badan

• Penghindaran pajak

• Kepatuhan

• Laporan keuangan

• Penghindaran pajak – proksi BTD

• Tax planning

• Tax Sheltering

• Value relevance informasi pajak

• Inforasi pajak dan kualitas informasi akuntansi

Badan

Informasi Pajak

PAJAK Laporan Keuangan Perusahaan

LKPP / LKPD APBD / APBN

Informasi Pajak – DJP -

Pengadilan Informasi

Makro / lain Data Primer

10

Badan

Laba sebelum pajak (akuntansi)

Koreksi fiscal

Penghasilan Kena Pajak x tarif pajak

Pajak terutang 1 tahun fiskal

Kredit pajak

• Angsuran pajak (PPh25)

• Dipotong pihak lain (22,23)

• Pajak luar negeri (24) Pajak kurang/lebih bayar (29/28

Pajak Perusahaan

Memoton g PPh 21 atas gaji,

PPh 23 atas jasa

Dipotong PPh 23 atas penghasilan

jasa

PPN atas penyerah barang/jaan

sa

Meterai PBB BPHTB Pajak Daerah

Setor negara Kas

Lapo r KPP

11

Pajak dalam Laporan Keuangan

 Arus kas

 Laporan laba rugi

 Laporan posisi keuangan

12

Pajak dalam Laporan Keuangan

 Catatan atas Laporan keuangan

13

Perbedaan Pajak dan Akuntansi -1

PSAK Undang-

Undang

AKUNTANSI PAJAK

PERBEDAAN

Permanen Temporer

Pajak Tangguhan:

 Aktiva/utang

 Beban/Pendapatan

Penelitian:

Book tax Gap Eff Tax Rate

14

Riset pajak di Indonesia

• Kebijakan perpajakan :

– Kepatuhan WP terhadap peraturan pajak

– Tax gap = antara potensi pajak dengan jumlah pajak yang telah masuk baik dari sisi obyek maupun subyek

– Pengenaan pemotongan pajak – Implikasi kebijakan perpajakan

• Tax amnesty, Revaluasi aset

• Reformasi pajak: E-filling; E-billing

• TP Doc

– Pajak dan perekonomian

• Trend Penerimaan pajak

• Tarif pajak dan kompetisi ekonomi

• Insentif pajak

15

Riset Perusahaan

• Akuntansi Pajak penghasilan

– Rekonsiliasi fiscal

– Pajak dalam laporan keuangan  book tax difference; earning management; pajak tangguhan.

– Pajak final dalam laporan keuangan

• Tax management, tax avoidance, tax evasion

• Pajak internasional  transfer pricing, heaven countries, thin capitalization

• Pajak transaksi khusus: sewa, transaksi mengandung sewa, aset biologis, expected credit loss, penurunan nilai, joint venture

• Book tax different:

– Penyebab Time & Permanent (tax planning) – aset tetap, foreing operation, debt – Dampak Book tax gap terhadap persistensi laba, nilai perusahaan.

– Faktor yang mempengaruhi book tax different : CG, kepemilikan – Hubungan tax planning dan earning management

– Pengukuran book tax different

• Penelitian atas Surat Ketetapan Pajak  riil earning management

16

Perilaku

• Penghindaran pajak (persepsi, laporan keuangan)

– Faktor yang mempengaruhi penghindaran pajak

• Penelitian experiment terkait perilaku penghindaran pajak

• Ketaatan pajak

– Faktor yang mempengaruhi  etika,

kepercayaan pada pemerintah, religuisitas.

• Etika dalam perpajakan  data primer

17

Metodologi

• Analisis Deskriptif

• Analisis empiris

– Data sekunder – Data primer

• Analisis kualitatif

– Survey

– Focus graup discussion – wawancara

• Cases studies

18

Penelitian Pajak

• Paper pajak dalam tiga jurnal akuntansi terkemuka.

19

Klasifikasi Penelitian Pajak

• Klasifikasi penelitian pajak menurut Shevlin (1999)

– Riset kebijakan  bagaimana pajak meningkatkan aktivitas ekonomi, mendistribusikan kekayaan dan bagaimana meningkatkan pajak. Evaluasi atas

kebijakan pajak apakah dapat mencapai tujuannya.

(JATA & NTJ)

– Perencanaan pajak  bagaimana individu dan perusahaan merespon peraturan pajak.

– Kepatuhan pajak  judgemnet and decision making sehingg banyak dipengaruhi oleh bidang psikologi

20

Klasifikasi Penelitian Pajak

• Klasifikasi penelitian pajak menurut Shacklelford dan Shevlin (2001)

– Trade off pajak dan non pajak  Perencanaan pajak

mempengaruhi pilihan akuntansi keuangan dan pertimbangan akuntansi keuangan mempengaruhi perencanaan pajak (tidak independen)

• Pelaporan keuangan (inventory, intertemporal income shifting,

• Agency cost

– Pajak dan penilaian saham  dampak pajak atas M&A, capital structure, pengaruh pajak investor terhadap harga saham

– Multijurisdictional  perusahaan multinasional dan perusahaan multistate

21

Klasifikasi Penelitian Pajak

• Klasifikasi penelitian pajak menurut Hanlon dan Heitzman (2010) :

– peran informasi beban pajak penghasilan  perbedaan antara laba akuntansi dengan penghasilan kena pajak terkait dan

implikasinya terhadap pelaporan keuangan;

– tax avoidance (penghindaran pajak) perusahaan;

– efek pajak terhadap pengambilan keputusan perusahaan termasuk investasi, struktur modal, dan bentuk organisasi, serta kebijakan pajak mana yang efektif dilihat dari implikasi nyatanya terhadap keputusan perusahaan.

– pajak investor (investor level taxes) dan penilaian aset (asset pricing) – terkait riset mengenai dampak dari pajak dividen untuk investor dan pajak atas capital gains

22

Klasifikasi Penelitian Pajak

• Klasifikasi penelitian akuntasi pajak menurut Graham et al (2012) :

– earnings management  valuation allowance, diskresi pelaporan beban pajak,pendapan

– hubungan antara perbedaan nilai buku dengan nilai pajak (book-tak differences) dengan

karakteristik/kualitas laba; dan

– Pengaruh informasi pajak terhapda nilai saham

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Metodologi Penelitian Pajak

• Coyne (2010)

– Analitis

– Archival / empiris – Eksperimental – Metode lainnya

• Klasifikasi lain

– teoritis, normatif

– Behavioral / judgement and decision making – Review / deskriptif

– Survey; studi lapangan

24

Research in Taxation

Methodology

• Experimental market

• Behavioral /judgment and decision making – 40%

• Analythical

• Empirical – 50%

Classification

 Tax Policy research  effectiveness of policy to achieve the goals

 Tax planning research  respond on tax rule

 Complience Research

Top Accounting Journal & Taxation

• The Journal of American Taxation Association (JATA)

• Journal of Accounting Review (JAR)

• The Accounting Review (TAR)

• Journal of Accounting and Economic

25

Tax Research

26

Research in Tax Planning

27

Overview Tax Research

• A review of Tax Research, Michelle Hanlon and Shane Heitzman, Journal of Accounting and Economics (2010) (50) 127-178.

• Research in accounting for income taxes, John R.Graham, Jana S.Raedy , Douglas A.Shackelford Journal of Accounting and Economics (2011) Nov. 412-434.

• The Future of tax Reserach: From an Accounting Proffessor’s Perspective, Terry Shevlin, the Journal of the American Taxation Association, Fall 2007; 87

• Empirical tax research in accounting Douglas, “A.Shackelford, Terry

Shevlin, Journal of Accounting and Economics (2001) 321-387.

BTD & ETR

• Determinants of the Variability in Corporate Effective Tax Rates,

Evidence from Longitudinal Data, Sanjay Gupta and Kaye Newberry, Journal of Accounting and Public Policy, 16, (1997), 1-34.

• Tax Avoidance: Does Tax-Specific Industry Expertise Make a

Difference?, Sean T. McGuire, Thomas C. Omer, Dechun Wang, The Accounting Review, Vol. 87, No. 3, 2012, pp. 975–1003.

• Determinants of the variability in corporate effective tax rates and tax

reform: Evidence from Australia, Grant Richardson, Roman Lanis,

Journal of Accounting and Public Poliy, 26, 689-704.

BTD & QUALITY OF INCOME

• Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120

• Taxable Income as a Performance Measure:The Effects of Tax Planning and Earnings Quality, Benjamin C. Ayers, John Xuefeng Jiang and Stacie K

Laplante, Contemporary Accounting Research, Vo 26, No 1 (Spring 2009) pp.

15-54

• The Persistence and pricing of earning accrual, and cash flows when firms have large book tax difference, Michelle Hanlon, The Accounting Review, Vol 80 No 1, (2005) pp 137-166.

• The Persistence, Forecasting and Valuation Implication of Tax Change Component of Earnings, Ancrew P. Shmidt, The Accounting Review, May 2006:81

• An uninteded consequence of book-tax conformity: A loss of earnings

informativeness, Michelle Hanlon, Edward L. Maydew, Terry Shevlin, Journal of Accounting and Economics 46 (2008) 294-311.

BTD & ASET PRICING

• Uday Chandra and Byung T. Ro, The Association between Deferred

Taxes and Common Stock Risk, Journal of Accounting and Public

Policy, 16, 311-333 (1997)

Tax Avoidance & Earning Management

• Can book–tax differences capture earnings management and tax

Management? Empirical evidence from China, Tanya Tang, Michael Firth, The International Journal of Accounting 46 (2011) 175–204.

• Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting, Mary Margaret Frank, Luann J. Lynch, Sonja Olhoft Rego, The Accounting Review, 2009, Vol 84 No 2 pp.467-496

• Creating a Bigger Bath Using the Deferred Tax Valuation Allowance, Theodore E. Christensen, Gyung H. Paik and Earl K. Stice,Journal of Business Finance & Accounting, 35(5) & (6), 601–625, June/July 2008.

• Earning Management: New Evidence Based on Deferred Tax Expense, John Philips and Porton Pincus, Sonja Ofhoft Rego, The Accounting Review, Apr 2003:78.

• Dhaliwal, D., C Gleason, dan L. Mills. (2004). Last chance earnings management: using the tax expense to meet analysts’ forecasts, Contemporary Accounting Research 21 (2): 431-457.

Tax Behavior

• The impact of audit risk, materiality and severity on ethical decision making: An analysis of the perceptions of tax agents in Australia, Rex Marshall, Malcolm Smith, Robert Armstrong, Managerial Auditing Journal, 21 5, 2006, 497-519

• Social responsibility, Machiavellianism and tax avoidance: A study of Hong Kong, tax professionals, William E. Shafer, Richard S. Simmons, Accounting, Auditing & Accountability Journal, Vol. 21 Iss: 5, (2008), pp. 695 – 720.

• The importance of faith: Tax Morale and religiosity, Benno Torgler, Journal of Economic Behavior & Organization, 2006:81-109

• A Note on the Relation between Frames, Perceptions, and Taxpayer Behavior, Scot B. Jackson and Richard C. Hatfield, Contemporary Accounting Research Vol. 22 No. 1 (Spring 2005) pp. 145-64

Tax Avoidance, CG, CSR

• Tax avoidance, tax management and corporate social responsibility, Fariz Huseynov, Bonnie K. Klamn, Journal of Corporate Finance, 18 (2012), 804-827

• Minnick, Kristina dan Tracy Noga. (2010). Do Corporate Governance Characteristics Influence Tax Management?. Journal of Corporate Finance, 16, 703-718

• Mozaffar Khan, Suraj Srinivasan, and Liang Tan (2017) Institutional Ownership and Corporate Tax Avoidance: New Evidence. The

Accounting Review: March 2017, Vol. 92, No. 2, pp. 101-122.

International Tax

• The determinants of thinly capitalized tax avoidance structures: Evidence from Australian firms, Grantley Taylora, Grant Richardsonb, Journal of International Accounting, Auditing and Taxation 22 (2013) 12– 25.

• The demand for tax haven operations, Mihir A. Desai, C. Fritz Foley, James R. Hines Jr. Journal of Public Economics 90 (2006) 513– 531.

• International Corporate Tax Avoidance Practices: Evidence from Australian Firms, Grantley Taylor and Grant Richarson, The International Journal of Accounting, 47 (2012) 469–496.

• Cross-Jurisdictional Income Shifting by U.S. Multinationals: Evidence from International Bond Offerings Kaye J. Newberry; Dan S. Dhaliwal Journal of Accounting Research, Vol. 39, No. 3. (Dec., 2001), pp. 643-662.)

Book Tax Gap

The Persistence and pricing of earning accrual, and cash flows when

firms have large book tax difference, Michelle Hanlon, The Accounting

Review, Vol 80 No 1, (2005) pp 137-166.

Book Tax Gap

Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120

ABSTRACT: We investigate why temporary book-tax differences appear to serve as a useful signal of earnings persistence (Hanlon 2005). We first test and show that temporary book-tax differences provide incremental information over the magnitude of accruals for the persistence of earnings and accruals.

We then opine that there are multiple potential sources of large positive book- tax differences. We predict and find that firms with large positive book-tax differences likely arising from upward earnings management (tax avoidance) exhibit lower (higher) earnings and accruals persistence than do other firms with large positive book-tax differences. Finally, we find significant variation in current-period earnings and accruals response coefficients and insignificant hedge returns in period tþ1, consistent with investors being able to look through to the source of large positive book-tax differences (earnings management and tax avoidance), allowing them to correctly price the persistence of accruals for these subsamples.

Book Tax Confirmity

Atwood, T.J., Drake, M.S., & Myers, L.A. (2010). Book-tax conformity, earnings persistence and the association between earnings and future cash flows. Journal of Accounting and Economics, 50, 111–125.

Calls for eliminating differences between accounting earnings and taxable income in the US have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects

earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity measure and find that earnings have lower persistence and a lower association with future cash flows when conformity is higher. Our evidence suggests that increased book-tax conformity may reduce earnings quality.

Book Tax Confirmity

Home country tax system Characteristics and corporate tax avoidance:

international Evidence, T.J. Atwood, Michael S. Drake, James N. Myers Linda A. Myers, The Accounting Review, ol 87, No 6 (2012) pp.1831-1860

We examine whether three tax system characteristics—required book-tax conformity, worldwide versus territorial approach, and perceived strength of enforcement— impact corporate tax avoidance across countries after controlling for firm-specific factors previously shown to be associated with tax avoidance (i.e., performance, size, operating costs, leverage, growth, the presence of multinational operations, and industry) and for other cross-country factors (i.e., statutory corporate tax rates, earnings volatility, and institutional factors). We find that, on average, firms avoid taxes less when required book- tax conformity is higher, a worldwide approach is used, and tax enforcement is perceived to be stronger. However, the relations between tax avoidance and all three tax systems characteristics are contextual and depend on the extent to which management compensation comes from variable pay, including bonuses, stock awards, and stock options.

Paper

Discussion

TAX RESEARCH IN ACCOUNTING

• This paper traces the development of archival, microeconomic-based, empirical income tax research in accounting over the last 15 years.

• The paper details three major areas of research:

– the coordination of tax and non-tax factors, – the effects of taxes on asset prices

– the taxation of multijurisdictional (international and interstate) commerce.

• Methodological concerns of particular interest to this field also are discussed.

• Research before 1980

– Legal research, evaluating the effects of taxes on exogenous transactions, usually published in law journals, and

– Policy studies, evaluating the distributional or

efficiency effects of taxes, usually published in public economics journals.

D.A. Shackelford, T. Shevlin, Journal of Accounting and Economics

41

Research Question

• Tax research has long attempted to address three questions of scholarly and policy interest:

– Do taxes matter?

– If not, why not?

– If so, how much?

• Current tax research in accounting addresses these questions using a framework developed by by Scholes and Wolfson (SW, 1992).

42

Scholes–Wolfson paradigm

• Effective tax planning requires the [tax] planner to consider the tax implications of a proposed transaction for all of the parties to the transaction.

• Effective tax planning requires the planner, in making investment and financing decisions, to consider not only explicit taxes (tax dollars paid directly to taxing authorities) but also implicit taxes (taxes that are paid indirectly in the form of lower before-tax rates of return on tax-favored

investments).

• Effective tax planning requires the planner to recognize that taxes represent only one among many business costs, and all costs must be considered in the planning process: to be implemented, some proposed tax plans may require

exceedingly costly restructuring of the business.’’ (SW, p. 2).

43

Scholes–Wolfson paradigm

• The three themes - All parties, all taxes, and all costs provide a structure for tax management that achieves

organizational goals, such as profit or wealth maximization.

• The themes imply that tax minimization is not necessarily the objective of effective tax planning.

• Effective tax planning must be evaluated in the efficient design of organizations and through adoption of a

contractual perspective.

• The paradigm implicitly assumes that if all contractual

parties, all taxes (explicit and implicit), and all non-tax costs can be identified and controlled, then the observed tax

behavior will be rational and predictable.

• No paper challenges the validity of the SW framework.

44

Tax and non-tax tradeoffs

• Financial reporting considerations

– Inventory accounting – Compensation

– Inter-temporal income shifting

– Capital structure, divestitures and asset sales – Regulated industries

– Other setting – accounting for depreciable asset

• Agency Costs

– Compensation – Tax shelters

• Financial reporting considerations

– Inventory accounting – Compensation

– Inter-temporal income shifting

– Capital structure, divestitures and asset sales – Regulated industries

– Other setting – accounting for depreciable asset

• Agency Costs

– Compensation – Tax shelters

• Tax research in accounting examines the coordination of taxes and other factors in business decisions.

• Taxes cannot be minimized without affecting other organizational goals.

• This review of the tradeoff literature is dichotomized:

– the interaction of financial reporting and tax factors – the effects of agency costs on tax minimization.

• Tax research in accounting examines the coordination of taxes and other factors in business decisions.

• Taxes cannot be minimized without affecting other organizational goals.

• This review of the tradeoff literature is dichotomized:

– the interaction of financial reporting and tax factors – the effects of agency costs on tax minimization.

45

Taxes and assets prices

• Merger and acquisition

• Capital structure

• Implicit taxes

• Equity price and investor taxes

• Dividends tax capitalization

• Capital gains tax capitalization studies of equilibrium prices

• Price pressure arising from capital gains taxes

46

Research in Taxation - methodology

• Methodology

– Experimental market

– Behavioral /judgment and decision making – Analythical

– Empirical

• Classification

– Tax Policy research  effectiveness of policy to achieve the goals – Tax planning research  respond on tax rule

– Complience Research

47

Suggestion

• We close with a few thoughts about potentially new areas of research.

– First , strong links have been developed between financial accounting and taxes.

– Second, a potentially understudied topic is accounting for income taxes, which neither tax research nor financial accounting research has closely evaluated.

– Finally, little is known about the potential cross-sectional differences in the willingness of firms to avoid taxes.

• One determinant that has attracted attention is the extent to which managers or other insiders control the firm.

48

A Review of Tax Research

Michelle Hanlon and Shane Heitzman, Journal of Accounting and Economics

(2010) (50) 127-178.

49

Introduction

• Shackelford and Shevlin (2001) limit their review to research

published in accounting outlets and describe the development of the relatively young archival, microeconomic-based income tax literature that arose from the Scholesand Wolfson framework.

• Maydew(2001) emphasizes the need for tax researchers in

accounting to think more broadly and to incorporate more theory and evidence from economics and finance.

• Tax research has along history in many disciplines.

• The goal in this paper is to integrate the theoretical and empirical tax research from accounting, economics, and finance, to

summarize what is known and unknown, and to offer suggestions for future research.

50

Review Tax Research

Review Tax Research

The informational role of accounting

for income taxes

corporate tax avoidance

Taxes, book-tax tradeoffs, and real corporate decisions

Taxes and asset pricing

51

Informational role of AFIT

Summary and suggestions for

the future

The informational role of accounting

for income taxes

Book-tax conformity

Sources of differences between book and

taxable income

A taxonomy of the

literature and review of the evidence

• Inferences from book-tax differences about current and future earnings.

• Are earnings managed through the tax accounts?

• Do changes in the

valuation allowance reveal manager’s private

information about future performance?

52

Tax Avoidance

Summary and suggestions for the

future

corporate tax avoidance

Measuring tax avoidance Effective tax rate measures

• Effective tax rate measures

• Long-run effective tax rates

• Book-tax differences

• Discretionary or

‘‘abnormal’’ measures of tax avoidance

• Unrecognized tax

• Tax shelter firms benefits (UTB)

Determinants of tax avoidance (firm

characteristic, manager effects,

ownership, governance,

incentives

Theory of corporate tax avoidance

• Tax system : tax rate

• Legal system &

governance

The consequences of tax avoidance

• Direct: CF, Firm Value

• Indirect: cap

structure decision

53

Pengukuran Tax Avoidance

Metode

Pengukuran

Cara Perhitungan Keterangan

GAAP ETR Total tax expense per dollar of

pre-tax book income

Current ETR Current tax expense per dollar

of pre-tax book income

Cash ETR Cash tax paid per dollar of

pre-tax book income Long-run cash

ETR

Sum of taxes paid per over n years divided by the sum of pre-tax earnings over n years ETR

Differential

Statutory ETR- GAAP ETR The differences of between the statutory ETR and the firm

´s GAAP ETR DTAX Error term from following regression : ETR

differential x Pre-tax book income = a +b x controls + e

The unexplained portion of the ETR differential

Metode

Pengukuran

Cara Perhitungan Keterangan

GAAP ETR Total tax expense per dollar of

pre-tax book income

Current ETR Current tax expense per dollar

of pre-tax book income

Cash ETR Cash tax paid per dollar of

pre-tax book income Long-run cash

ETR

Sum of taxes paid per over n years divided by the sum of pre-tax earnings over n years ETR

Differential

Statutory ETR- GAAP ETR The differences of between the statutory ETR and the firm

´s GAAP ETR DTAX Error term from following regression : ETR

differential x Pre-tax book income = a +b x controls + e

The unexplained portion of the ETR differential

Sumber : Hanlon dan Heitzman (2010)

54

Tax Avoidance

Metode

Pengukuran

Cara Perhitungan Keterangan Total BTD Pre-tax book income – ((U.S. CTE + Fgn CTE /

U.S. STR) – (NOL_t – NOL_t-1))

The total differences between book and taxable incomes Temporary

BTD

Deferred tax expense/ U.S. STR Abnormal total

BTD

A measure of unexplained total book-tax differences Unrecognized

tax benefit

Disclosed ammount post-FIN-48 Tax liability accrued for taxes not yet paid on uncertain positions

Tax shelter activity

Indicator variable for firms accused of engaging in a tax shelter

Firms identified via firm

disclosures, the press, or IRS confidential data

Marginal tax rate

Simultated marginal tax rate Present value of taxes on an additional dollar income

Sumber : Hanlon dan Heitzman (2010)

55

Tax & Corporate Decison

Capital structure

• Estimating the tax benefit of debt

• Measuring leverage

• Summary and thought for the future

• Payout policy

Taxes, book-tax tradeoffs, and real corporate decisions

Investment

• Theory of investment and taxes: a brief background

• Taxes and

investment: some evidence

• Investment in intangibles

• Investment location decisions

• The reinvestment or repatriation decision

• Corporate inversions to tax havens

• Summary and

thoughts for future research

Organizational form

 The choice of

organizational form

 Summary and thought for future research

Taxes and other dec:

transfer pricing, aquistioan and

compensation

 Transfer pricing

 Merger and aquisition

 Executive compensation

 Executive trading

Tax & Aset Pricing

Remaining issues and Ques for future research

• How relevant the marginal investor?

• Are dividend taxes

priced differently across firms

• Asset pricing in the open economy

Investor-level taxes and asset

prices

Deviden taxation

• The economic effects of dividen taxation: a brief introduction

• Log-horizon returns: the effect of dividend yiled on expected returns

• Event study predictions:

the valuation of dividend tax rate change

• Ex-devidend day study

• Evidence from valuation models

• Summary

Capital gains taxation:

capitalization & lock-in

• Capital gains taxes and expected return

• Stock market realization and lock-in effect

Thoughts for

future research

Research in Accounting for

Income Taxes

John R.Graham, Jana S.Raedy , Douglas A.Shackelford

Journal of Accounting and Economics (2011) Nov

The Rule Governing Accounting for Income Taxes

Temporary difference Permanent Different

Uncertain tax contingent

Permanently reinvested foreign

earnings

Why Accounting of Income Taxes

Income Tax expense is significant expense

Tax accounts provide information to an adversarial party

Tax account provide an alternative measure of income

Tax expense is never included as

component of operating expense

Research in Accounting for Income Taxes

Research in Accounting for

Income Taxes Earnings

management

The association between book- tax differences

Earnings characteristics,

and the equity market pricing of information in the

tax accounts.

Earning Management

Future research in earning

management

Earning Management

Studies of earning management via the

tax contingency account

Studies of earning management via

discreation in reporting the US tax

expense on foreign profit

Studies of earning management via the

valuation allowance

Other studies

Informational role of AFIT

• Earning quality proxies

Association between boot tax differences

and earning characteristics

• BRD and earning persistence

• Persistence of tax information – tax change component or earning

• BTD effects earning

growth

Tax Avoidance

Future research in pricing of tax

information in FS

The pricing of tax information

reported in the FS

Information content of estimated taxable income

and book tax difference

 Ass. Contemporaneous return and BTD

 Ass. future return and estimated taxable

income

Tax Contingency Deferred tax account

 Empirical studies

 Theoritical studies

Summary

Conclusion

• Tax on real corporate decesion difficult to document.

• Informational role of AFIT

– More detailed examination sources of books tax different

• Tax avoidance, gov obejctive : closer the gap, increase complience and collect more revenue.

– Principle agent setting

– Tax authority and corporate governance system

– Theory and evidence causes and consequences of the tax avoidance

• Taxes are one factor that enter into management cost banefit management

decision

66 Dwi Martani - 081318227080

martani@ui.ac.id atau dwimartani@yahoo.com http://staff.blog.ui.ac.id/martani/

Dwi Martani - 081318227080

martani@ui.ac.id atau dwimartani@yahoo.com http://staff.blog.ui.ac.id/martani/

TERIMA KASIH