Penelitian Pajak 22112019 - Blog Staff

Riset in

Taxation

Agenda

Taxation in Indonesia Taxation in Indonesia

Research in Taxation Research in Taxation

Paper Discussion Paper Discussion

2

Taxation

In Indonesia

Pengertian Pajak

Prof. Dr. Rochmat Soemitro, S.H

iuran rakyat kepada kas negara berdasarkan undang- undang (yang dapat dipaksakan) dengan tidak mendapat

jasa timbal (kontraprestasi), yang langsung dapat ditunjukkan dan yang digunakan untuk membayar

pengeluaran umum

(Dasar-dasar hukum pajak dan pajak pendapatan 1990:5)

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Definisi Pajak

• Dipungut berdasarkan undang-undang

• Tidak menunjukkan adanya kontraprestasi

• Dipungut negara baik pemerintah pusat dan daerah

• Diperuntukkan pengeluaran pemerintah  public investment

• Mempunyai tujuan lain  reguler

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Mengapa Belajar Pajak ??

PAJAK Kewajiban

Individu

Kewajiban Perusahaan

(AK)

Penerimaan Negara (ASP) Pertumbuhan

ekonomi (Makro)

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Karir di Bidang Pajak

Karir Tax manajemen

Tax officer (DJP)

ConsultantTax Lainnya

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Pajak - Perusahaan

Pajak dalam Perusahaan

Pajak dalam Perusahaan

Transaksi Transaksi

Kewajiban Perusahaan Kewajiban Perusahaan

Laporan Keuangan

Laporan Keuangan Keputusan

Manajemen Keputusan Manajemen

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PERTANYAAN MENDASAR

 Bagaimana Anda membayar pajak ??

 Bagaimana mencatat ?

– Penjualan

– Pembayaran gaji – Pembayaran sewa

– Penerimaan pendapatan jasa?

 Dari mana pos-pos pajak dalam Laporan Keuangan diperoleh ?

– Beban pajak penghasilan

– Utang pajak penghasilan / pajak dibayar dimuka – Aset dan liabilitas pajak tangguhan

 Bagaimana pengungkapan dalam laporan keuangan?

– Catatan atas laporan keuangan  koreksi fiskal

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Pajak dalam Laporan Keuangan

Arus kas

 Laporan laba rugi

Laporan posisi keuangan

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Pajak dalam Laporan Keuangan

Catatan atas Laporan keuangan

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Ilustrasi Pajak Perusahaan

LABA RUGI

Laba sebelum pajak xxx

Pajak kini (current tax) (xxx) Pajak tangguhan (deferred tax) xxx

Laba tahun bjln dari operasi dilanjutkan xxx Kerugian/pendapan operasi dihentikan xxx Laba tahun berjalan xxx

Penghasilan komprehensif lain xxx Pajak penghasilan terkait (xxx) Total laba komprehensif xxx

Laba yang dapat diatribusikan kepada:

Pemilik entitas induk xxx

Kepentingan non pengendali xxx NERACA

Aset Pajak Tangguhan xxx atau Liabilitas Pajak Tangguhan xxx

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Pajak dalam APBN 2019

Referensi: nformasi APBN 2019 13

Kontribusi Perpajakan APBN 2019

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Referensi: nformasi APBN 2019

Perkembangan Tax Ratio Pajak APBN 2019

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Referensi: nformasi APBN 2019

Komposisi Penerimaan Pajak APBN 2019

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Referensi: nformasi APBN 2019

Komposisi Pajak 2019

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Referensi: nformasi APBN 2019

Pertumbuhan Komposisi Pajak 2019

Referensi: nformasi APBN 2019 18

Kebijakan Bidang Perpajakan 2019

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Referensi: nformasi APBN 2019

Azas pajak

• EQUALITY  Pajak adil dan merata

– Adil secara vertikal – Adik horisontal

 CONVINIENCE  tidak menyulitkan, Pay as

you earn,

ex:withholding system

 CERTAINTY  tidak sewenang-wenang, berdasarkan undang-

undang yang dilaksanakan

 ECONOMY  efisien ex:self

assesment

Adam Smith dalam An Inquiri into the nature and cause of

the wealth of nations

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Azas Pemungutan

Azas Menurut Falsafah Hukum

• Teori Asuransi (melindungi)

• Teori Kepentingan

• Teori daya pikul

• Teori Bakti

• Teori azas daya beli

Azas yuridis

Hukum pajak harus memberikan

jaminan hukum

 UU

Azas ekonomi

Negara  perekonomian meningkat. Pajak

tidak menghambat ekonomi

Azas untuk

memungut

 Azas tempat tinggal

 Azas

kebangsaan

 Azas sumber

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Badan

Penghasilan

Beban yang dapat dikurangkan

Penghasilan kena pajak

X tarif pajak

Pajak terutang 1thn 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

MeteraiPBB BPHTB Pajak Daerah

Setor negaraKas

Lapor KPP

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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

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UU PAJAK PENGHASILAN (UU 36/2008)

Perubahan keempat dari UU 7/1983

Subyek Pajak

• Obyek; bukan obyek; pengurang dan bukan pengurang

Obyek Pajak

• Tarif, struktur modal, harga transaksi, revaluasi

Cara Menghitung Pajak

• PPh 21; 22; 23; 24; 25

Pelunasan pajak dalam Tahun Berjalan

• PPh 28; PPh 29

Perhitungan pajak akhir tahun

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Orang Pribadi (OP)

Badan

Bentuk usaha tetap (BUT), merupakan subyek pajak yang perlakuan pajaknya dipersamakan

dengan subyek pajak badan.

Warisan yang belum terbagi sebagai satu kesatuan, bersifat

menggantikan yang berhak.

Subjek Pajak

Pasal 2 Ayat (1 dan 1a)

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Merupakan setiap tambahan kemampuan ekonomis yang:

- Diterima atau diperoleh wajib pajak.

- Berasal dari Indonesia maupun dari luar Indonesia.

- Dapat dipakai untuk konsumsi atau untuk menambah kekayaan wajib pajak.

Definisi Penghasilan

Pasal 4 Ayat (1)

Dengan nama dan dalam bentuk apapun

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KETENTUAN UMUM TATA CARA PERPAJAKAN

Pendaftaran (NPWP-NPPKP)

Pembukuan/

Pencatatan

Pembayaran (SSP)

Pelaporan (SPT)

Pemeriksaa n

Pemeriksaa n

Penetapan (SKP) Penetapan

(SKP)

Keberatan Keberatan

Banding Banding

Kasasi Kasasi

FISKUS WAJIB PAJAK

Pendaftaran (NPWP-NPPKP)

Pembukuan/

Pencatatan

Pembayaran (SSP)

Pelaporan (SPT)

c

c

BPP

MA

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Ketentuan Pembukuan

Pasal 28 Ayat (1), (7) dan Penjelasan (7)

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Standar Akuntansi Indonesia

Pernyataan Standar Akuntansi Keuangan - PSAK

Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas Publik signifikan - SAK-ETAP

Standar Akuntansi Entitas Mikro Kecil Menengah - SAK EMKM

Standar Akuntansi Organisasi Nirlaba PSAK 45 (DE PPSAK 13 – PSAK 45 Dicabut  ISAK 35)

• Mengatur pelaporan

• Ekuitas = Net aset

• Diterapkan bersamaan PSAK / SAK ETAP

Standar Akuntansi Organisasi Nirlaba PSAK 45 (DE PPSAK 13 – PSAK 45 Dicabut  ISAK 35)

• Mengatur pelaporan

• Ekuitas = Net aset

• Diterapkan bersamaan PSAK / SAK ETAP

Standar Akuntansi Syariah

• Mengatur transaksi Syariah

• Pelaporan organisasi Syariah

• Diterapkan bersamaan dengan PSAK / SAK ETAP / EMKM tergantung entitasnya.

Standar Akuntansi Syariah

• Mengatur transaksi Syariah

• Pelaporan organisasi Syariah

• Diterapkan bersamaan dengan PSAK / SAK ETAP / EMKM tergantung entitasnya.

Standar Akuntansi Pemerintahan (SAP), PP 71 tahun 2010, digunakan untuk entitas Pemerintah Pusat dan Daerah dalam menyusun laporan keuangan. Standar berbasis Akrual, disusun dengan referensi dari IPSAS / International Public Sector Accounting Standards.

Standar Akuntansi Pemerintahan (SAP), PP 71 tahun 2010, digunakan untuk entitas Pemerintah Pusat dan Daerah dalam menyusun laporan keuangan. Standar berbasis Akrual, disusun dengan referensi dari IPSAS / International Public Sector Accounting Standards.

UU PPN & PPnBM (UU 42/2009)

Perubahan keempat dari UU 8/1983

Pengukuhan pengusaha kena pajak

Kewajiban melaporkan usaha, memungut dan menyetor dan melaporkan pajak terutang

Obyek Pajak

Tarif dan Cara Menghitung Pajak Saat dan tempat terutang

Laporan Perhitungan pajak Ketentuan Khusus - pemungut

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Research in

Taxation

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

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Riset Perusahaan

• Pengungkapan Akuntansi Pajak penghasilan

– Pengaruh pajak terhadap cost of debt and capital

– Ketaatan perusahaan memenuhi kewajiban pajak

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

tangguhan.

– Tax management, tax avoidance, tax evasion – Pajak internasional  transfer pricing, heaven

countries, thin capitalization

• Book tax different:

– Penyebab Time & Permanent (tax planning) – aset tetap, foreing operation, debt

– Potensi rekonsiliasi fiskal untuk earning management.

– 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

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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

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Penelitian Pajak

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

– legal research,  mengevaluasi efek pajak pada transaksi

exogenous, dan biasanya dipublikasikan pada jurnal hukum; dan – policy studies,  mengevaluasi distribusi atau efisiensi efek pajak,

biasanya dipublikasikan di jurnal akuntansi publik.

• Riset 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 Econmics, Journal of Accounting and Public Policy

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Penelitian Pajak

• Paper pajak dalam tiga jurnal akuntansi terkemuka.

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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

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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

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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

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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

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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

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Tax Research

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Research in Tax Planning

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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

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

58

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).

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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).

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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.

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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.

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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

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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

64

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.

65

A Review of Tax Research

Michelle Hanlon and Shane Heitzman, Journal of Accounting and Economics

(2010) (50) 127-178.

66

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.

67

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

68

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?

69

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

70

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) 71

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)

72

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

TAX REPORTING AGGRESSIVENESS AND ITS RELATION TO AGGRESSIVE FINANCIAL

REPORTING

Mary Margaret Frank, Luann J Lynch and Sonja Olhoft Rego (2009)

Tujuan dan Kontribusi

Tujuan

• Menguji validitas pengukuran Tax Reporting Aggressivenes

• Menguji Hubungan antara FRA dengan TRA

• Menguji Implikasi FRA dan TRA terhaaap kesejahteraan shareholder Kontribusi

• Menemukan adanya hubungan positif yang kuat antara FRA dengan TRA (Unexplore before)

• Mengembangkan pengukuran TRA yang mampu mendeteksi aktivitas Tax Shelter

• Untuk pertama kali menguji pengaruh FRA dan TRA terhadap Future Stock Return

• Mengukur TRA dengan Permanen Differences

Motivation of Study

Investigasi kenaikan FRA dan TRA

Perusahaan Amerika Investigasi

kenaikan FRA dan TRA

Perusahaan Amerika Skandal

ENRON Skandal ENRON

FRA :Financial Reporting Aggressiveness TRA : Tax Reporting Aggressiveness

SEC: Securities & Exchange Commission

Treasury Dept fokus pada deteksi dan

tuntutan Aktivitas Tax

Shelter

Treasury Dept fokus pada deteksi dan

tuntutan Aktivitas Tax

Shelter

Motivation of Study

Company Financial Statement

Income

Reported to Tax Authorities

Trade off

Motivation of Study

Book Tax TRADE OFF

Extensive Conformity

FINANCIAL REPORTING

TAX

REPORTING

UPWARD BOOK INCOME

DOWNWAR D TAX INCOME

TAX COST

FR COST Low Income to Share

Holder

Trade OFF

HIGHER Book Income

To share Holder

LOWER Taxable

Income

To Tax authorities

Periode yang sama

THEORY

• Awal 1990an : US Corporation melaporkan Peningkatan

Perbedaan antara Income yang dilaporkan kepada Shareholder VS Tax Authority.

• Indikasi  tidak terjadi Trade Off  terjadi Book Income Upward and Taxable Income Downward  periode yang sama

• Intinya : Peristiwa ini dimotivasi oleh Skandal Akuntansi yang dicerminkan oleh Aggresiveness Tax Shelter Activity dan

Peningkatan Book Tax Gap

Motivation of Study

NO TRADE OFF

H1: Financial Reporting Aggressiveness Berpengaruh Positif terhadap Tax Reporting Aggressiveness

Menggunakan Corporate Tax Planning Effectiveness dengan proksi :

1. ETRs

2. Total Book Tax Difference 3. Cas ETRs

4. Discetionary Total BTD

(Residual from Regrression)

Mengukur Tax Reporting Aggressiveness

Propose  rely on 

PERMANEN DIFFERENCES

Alasan menggunakan Premanen Differences (bukan Total atau Temporary BTD)

1. Penelitian terdahulu  temporary BTD mencerminkan

Manajemen Laba melalui Pretax Accruals (mis: Philips et all, 2003) Hubungan Palsu untuk proksi FRA. (472)

2. Cash ETR  Hubungan Palsu dengan FRA

3. Permanent Difference  Dollar, sedangkan ETRs dalam

persentase  Permanen Difference lebih Comparable to Total Acrual

4. Untuk mengukur TRA Permanen Difference lebih Konsisten

 dengan menganggap ‘Nature’ aktivitas tax shelter agresif 5. 5 dari 8 Tax Shelter generates Permanent Different (Wilson,

2009)

6. Total BTD, Cash ETRs tidak mengontrol Non Discresionary item (mis: intangible, PPE) yang bisa menyebabkan baik temporary maupun permanent different.

Alasan menggunakan Premanen Differences (bukan Total atau Temporary BTD)

• Intinya : penelitian ini mengeluarkan Tax Planning yang Menggenerate Temporary Different (472)

• Walaupun Permanent Different lebih baik namun tidak

mempetimbangkan beberapa item terkait TRA, seperti: State Income Taxe, Tax Credit, Change in tax cushion dan Change in valuation Allowance account.

• Penelitian ini mengestimasi Discresionary Permanent Different (DTAX)

• Dengan meregresi Total permanen Different on Non Discresionary item yang menyebabkan Permanen Different (mis:intangible) dan other statutory adjustment (mis:state tax).

Validasi pengukuran TRA

• DTAX sebagai proksi TRA dihitung dengan cara:

• Dengan mengontrol nondiscresionary item yang tidak berhubungan dengan Tax Planning yang menyebabkan Permanent Different dan Other Statutory Adjustment

• Untuk External Validity Link it to sampel perusahaan menurut Graham and Tucker (2006) ttg perusahaan yang melakukan Tax Shelter.

• Sampel  perusahaan yang melukan tax sheltering  melawan pemerintah

Model 2

Memasukkan variabel lain yang berhubungan dengan Tax Planning:

PTROA = Profitability (PTROA),

NOL_D = Net Operating Loss Carry Forward FOR_D = Foreign Operation

SIZE = Firm Size

• ‘tanda’ dan signifikansi koefisien DTAX bertujuan untuk menunjukkan kemampuan DTAX dalam menjelaskan aktivitas tax shelter

• Alternatif pengukuran (Logit Regresion) membandingkan kemampuan masing-masing variabel dalam menjelaskan aktivitas tax shelter dengan kemampuan DTAX

• Antara lain:

• DTAX = Discresionary Permanent Different

DD = Residual dari Pooled Crossed Sectional Regresion dari Total BTD on Total Accrual

DD= TRA by Desai & Dharmapala (2006)

• Keunggulan DTAX sebagai alternatif Pengukuran adalah:

1. Mampu mengeluarkan Temporary Different yang merefleksikan earning management

2. Mengontrol Non Discresionary Source of Permanent

Kelemahan: Tidak mampu merefleksikan aktivitas Tax Shelter yang men- generate- temporary different (spt:Lease In Lease Out-LILO)

Arrangement

Hasil estimasi model 2  mengukur TRA

Hasil estimasi model 2  menukur TRA

Relation Between FRA & TRA

• Pengukuran FRA.

• Proksi FRA= Performance-Matchd discretionary Accruals (DFIN)--> Kothari et al (2005)

• Menggunakan Modified Jones Model (dechow et al, 1995)  Model 3

Robustness Test

• Perubahan pada tax cushion are terrefleksi pada permanent BTD and berpotensi menambah measurement error untuk mengukur TRA

• mengontrol lagged permanent differences (LAGPERM) in dalam perhitungan DTAX menghilangkan sejumlah TRA

• DTAX tidak secara langsung merefleksikan tax planning activity yang menghasilkan temporary different

• CONSISTENTLY FIND A POSITIVE AND SIGNIFICANT RELATION BETWEEN FINANCIAL AND TAX REPORTING AGGRESSIVENESS

Implikasi FRA bagi kesejahteraan

Shareholder

• A strong positive relation between financial and tax reporting aggressiveness

• Insufficient cost exist to offset basic financial and tax reporting incentives, such that nonconformity between financial accounting standards and tax

allows firms to manage book income upward and taxable income downward in the same reporting period

• Stock return analysis confirms that investor do not fully incorporate the information in discretionary accrual into stock price and reveals that much investor mispricing is attributable to a hedge portfolio based on measure of tax aggressiveness for firms with the most aggressive financial reporting

KESIMPULAN

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 Vol. 87, No. 6, 2012, pp. 1831–1860

Ruang Lingkup & Tujuan Penelitian

kesesuaian antara laba akuntansi dengan laba fiskal

(book tax conformity - BTC) Pendekatan Worldwide vs

territorial

Persepsi terhadap enforcement

Tax Avoidance

Diartikan sebagai segala upaya yang menyebabkan terjadinya perbedaan

antara jumlah pajak sesuai dengan tarif yang berlaku dengan jumlah

pajak yang dibayarkan oleh perusahaan

(Dyreng et al. 2008)

Karakteristik Sistem Pajak

Performance, size, operating costs, leveraga, growth, presence of

multinational operations dan insdutry

Variabel Kontrol

Statutory corporate tax rates, earnings volatility dan institutional

factor

Insentif Managerial Variabel Moderasi

Komponen Akrual

Motivasi & Kontribusi Penelitian

Reformasi Pajak di AS untuk meningkatkan penerapan book-tax

conformity (Desai, 2005)

Penggunaan pendekatan teritorial (Avi Yonah, 2010)

Perlunya penegakan hukum dalam pajak (Shulman, 2009)

Tindak lanjut atas penelitian sebelumnya yang meneliti tentang

faktor-faktor yang mempengaruhi tax avoidance (Hanlon dan

Heizman, 2010)

Penelitian sebelumnya kebanyakan hanya berfokus pada salah satu

negara (Hanlon dan Heizman, 2010)

Literatur : Menggambarkan variasi cross-section atas tax avoidance

(lintas negara).

Pembuat Kebijakan (Pemerintah):

Dalam rangka menentukan/

menegakkan regulasi perpajakan

Investor : Dalam rangka menginterpretasikan/

membandingkan

Pengembangan Hipotesis 1

Tax avoidance yang dilakukan oleh manajer akan berkurang

dengan adanya peningkatan kewajiban penerapan tax–book

conformity di AS (Desai, 2005) Terdapat fleksibilitas perbedaan pelaporan laba kena pajak fiskal dengan akuntansi pada setiap perusahaan di berbagai negara

(Atwood et al.2010)

Required Book-Tax Conformity

Tax Avoidance

Perusahaan pada

Home Country

Pengembangan Hipotesis 2

Perusahaan induk di negara yang

menganut pendekatan territorial akan lebih diuntungkan jika mengalihkan laba ke

negara yang low enforcement karena deviden yang diterima dari anak perusahaan di luar negeri secara permanen dapat dibebaskan dari pajak

pada home country, sedangkan pada negara yang menganut pendekatan worlwide, pengalihan tersebut hanya bersifat penangguhan pada home country

(Hicks, 2009)

Perusahaan multinasional pada home country yang menganut pendekatan

territorial cenderung menggeser pendapatan pada afiliasi asing dibandingkan perusahaan pada home

country yang menganut pendekatan worldwide (Markle, 2010)

Home Country Menggunakan Pendekatan Territorial

Home Country Menggunakan Pendekatan Worldwide

Tax Avoidance oleh

Perusahaan

V s

Pengembangan Hipotesis 3

Hukuman yang dikenakan langsung kepada manajer akan lebih efektif dalam mengurangi tax avoidance dibandingkan

jika hukuman dikenakan kepada korporasi (Crocker dan Slemrod, 2005)

Menyusul peningkatan penegakan hukum perpajakan di Rusia, pembayaran pajak meningkat, perdagangan dengan pihak terkait

dibatasi dan entitas tax haven ditinggalkan (Desai, 2007)

Berdomisili di Negara Low Enforcement

Berdomisili di Negara Strong Enforcement

Tax Avoidance oleh Perusahaan

Vs

Probabilitas pemeriksaan pajak yang tinggi meningkatkan kualitas akrual dan

posisi pajak perusahaan publik kurang agresif (Slemrod, 2004)

Pengukuran Tax Avoidance

(Dyreng, 2008)

Model Tax Avoidance

Pengukuran Required Tax-Book

Conformity (BTaxC) : (Atwood et al.

2010)

Kaidah Keputusan (Lihat Model Tax Avoidance ):

H1 = Jika BTaxC TaxAvoid (Negatif /α1 < 0)

H2 = Jika WW  Tax Avoid (Negatif /α2 < 0)

H3 = Jika TaxEnf  Tax Avoid (Negatif /α3 < 0)

Model Tax Avoidance dengan Incentive Compensation

Ekspektasi Peneliti:

Terdapat perbedaan koefisien antara kategori High

dan Low.

Model Tax Avoidance dengan Accruals Components

Ekspektasi Peneliti:

Terdapat pengaruh positif antara TaxAvoid dengan accruals.

WC = Current operating assets – Current operating