Using panel data from 2012 to 2020 for publicly traded Chinese companies, we explored the efficacy in mitigation of tax information asymmetry to combat profit shifting and transnational tax avoidance. Our empirical an...Using panel data from 2012 to 2020 for publicly traded Chinese companies, we explored the efficacy in mitigation of tax information asymmetry to combat profit shifting and transnational tax avoidance. Our empirical analysis revealed that, after the implementation of the inaugural multilateral automatic information exchange system known as the Common Reporting Standard, there was a statistically significantly increase in the effective tax rate by 1.4 percentage points, accompanied by an increase in instances of tax compliance. These trends were discernibly associated with a reduction in profit shifting and notable changes in reported profit margins, particularly influenced by actions related to debt shifting and strategic management of intellectual property assets. These findings underscore the strong connection between these effects and various factors such as investment destinations, asset portfolios, and industry classifications. The results imply a prospective decline in the incidence of cross-border tax avoidance by Chinese multinational entities and demonstrate the potential of emerging international tax cooperation frameworks for curbing the global tax avoidance practices of multinational corporations.展开更多
The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one...The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one of the factors impacting economic recovery,both economic literature and practical experience show that tax policy can contribute to enhanced growth and therefore greater economic activity.Tax instruments used as a means for promoting economic recovery include tax holidays,preferential tax rates,investment allowances,tax credits and special economic zones.However,there are a range of constraints over tax incentive design imposed by bodies such as the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting,the Forum on Harmful Tax Practices of the OECD and the Code of Conduct on Business Taxation of the European Union.Given the above,this paper sets out practical issues to inform governments seeking to promote economic activity through taxation.展开更多
This article introduces general insights into the Ukrainian tax reforms made during 2020 and 2021,covering major tax legislation changes such as implementation of the BEPS Action Plan,interstate exchange of fiscal inf...This article introduces general insights into the Ukrainian tax reforms made during 2020 and 2021,covering major tax legislation changes such as implementation of the BEPS Action Plan,interstate exchange of fiscal information,taxation of investment projects and economic security.It also underlines that up-to-date contactless IT-solutions and the adoption of international standards are top priorities of the future tax agenda.展开更多
基金The authors are grateful for the support of the National Social Science Foundation of China(No.23ZDA097).
文摘Using panel data from 2012 to 2020 for publicly traded Chinese companies, we explored the efficacy in mitigation of tax information asymmetry to combat profit shifting and transnational tax avoidance. Our empirical analysis revealed that, after the implementation of the inaugural multilateral automatic information exchange system known as the Common Reporting Standard, there was a statistically significantly increase in the effective tax rate by 1.4 percentage points, accompanied by an increase in instances of tax compliance. These trends were discernibly associated with a reduction in profit shifting and notable changes in reported profit margins, particularly influenced by actions related to debt shifting and strategic management of intellectual property assets. These findings underscore the strong connection between these effects and various factors such as investment destinations, asset portfolios, and industry classifications. The results imply a prospective decline in the incidence of cross-border tax avoidance by Chinese multinational entities and demonstrate the potential of emerging international tax cooperation frameworks for curbing the global tax avoidance practices of multinational corporations.
文摘The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one of the factors impacting economic recovery,both economic literature and practical experience show that tax policy can contribute to enhanced growth and therefore greater economic activity.Tax instruments used as a means for promoting economic recovery include tax holidays,preferential tax rates,investment allowances,tax credits and special economic zones.However,there are a range of constraints over tax incentive design imposed by bodies such as the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting,the Forum on Harmful Tax Practices of the OECD and the Code of Conduct on Business Taxation of the European Union.Given the above,this paper sets out practical issues to inform governments seeking to promote economic activity through taxation.
文摘This article introduces general insights into the Ukrainian tax reforms made during 2020 and 2021,covering major tax legislation changes such as implementation of the BEPS Action Plan,interstate exchange of fiscal information,taxation of investment projects and economic security.It also underlines that up-to-date contactless IT-solutions and the adoption of international standards are top priorities of the future tax agenda.
