隐性公司税和收入转移

Kevin S. Markle, Lillian F. Mills, Braden M. Williams
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引用次数: 37

摘要

税率变化对企业盈利能力的影响尚不完全清楚。隐性税收理论预测了国家层面的税率与企业层面的税前收益之间的正相关关系。相反,收入转移应该使报告的税前回报与税率成反比。在单一国家的欧洲公司中,我们发现了强有力的证据表明,企业隐性税收随着税率的变化而增加,主要集中在对无形资产依赖较少的公司和封闭经济体(非欧盟国家)的公司。在跨国公司附属公司中,我们发现收入转移的影响超过了无形资产高的公司和边界开放国家的隐性税收的影响。我们的研究结果表明,在开放经济和拥有独特投入或产品的公司环境中,仅使用报告利润估计的收入转移较少受到隐性税收的影响。我们的证据也有助于解释公司隐性税收影响随着时间的推移而减少的先前证据,特别是对于跨国公司。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Implicit Corporate Taxes and Income Shifting
The effects of tax rate changes on corporate profitability are not fully understood. Implicit tax theory predicts a positive relation between country-level tax rates and firm-level pretax returns. Conversely, income shifting should make reported pretax returns inversely related to tax rates. Among single-country European firms, we find robust evidence of corporate implicit taxes following tax rate changes, concentrated in firms that rely less on intangible assets and firms in closed economies (non-EU countries). Among multinational firm affiliates, we find the effects of income shifting outweigh the effects of implicit taxes for firms with high intangibles and in countries with open borders. Our results imply income shifting estimated using only reported profits is less biased by implicit taxes in settings with open economies and firms with unique inputs or products. Our evidence also helps explain prior evidence of decreasing corporate implicit tax effects over time, particularly for multinationals.
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