Tax Leverage Research Articles

State regulation of the sphere of higher education as an element of the development of the national economy

The article substantiates the expediency of state regulation in the sphere of higher education; the theoretical principles of state intervention in the market of higher education educational services are revealed; the structural elements of the state regulation system are defined, in particular, the object, the subject, goals, tasks, models, concepts, principles and functions of regulation; the methods of state regulation in the sphere of higher education are classified. The study also characterizes the directions of the administrative and legal mechanism of state regulation in the national sphere of higher education, such as management of the higher education system at various levels, regulation of the specialists training scope in certain specialties and educational levels, standardization of the higher education content, licensing and accreditation, certification and advanced training of scientific and pedagogical personnel, organization of an introductory company, conducting an audit of activities in the field of higher education, development of international cooperation, as well as the tools for their implementation are highlighted. The use of tools of organizational, economic and social mechanisms of state regulation of higher education in Ukraine, namely price control for educational services, financing of higher education, tax leverage, provision of employee incomes, crediting of higher education recipients, and state support of higher education subjects in conditions of martial law. The paper also proposes the directions of state regulation regarding the further development of the higher education sphere in the war and post-war periods, in particular, the attraction of opportunities to compensate for the destruction and the organization of the educational process offline; creation of conditions for retaining qualified personnel and providing a contingent of higher education applicants in Ukrainian higher education institutions; training of specialists in popular specialties; restoring the work of damaged or displaced higher education institutions, transforming them into scientific and educational (innovation) centers; elimination of legal conflicts; provision of high-quality, competitive higher education for various population groups; internationalization of higher education; ensuring digitization of educational activities; reforming the model of budgetary financing of higher education and modernization of crediting mechanisms for higher education.

Tax leverage and third-party capital cost for Brazilian companies

This study empirically investigates whether Brazilian companies that are more tax-leveraged have a lower capital cost from third parties than those that are less tax-leveraged. The survey data comprises financial information from 315 companies listed on the stock exchange - B3 and was structured containing information on the total liabilities due (PET), tax liabilities (PT), and the third parties’ capital cost (ki) of the sampled companies for the years between 2013 to 2017. The research is descriptive, with a quantitative approach, using methods of descriptive statistics and Pearson’s Correlation Coefficient for data analysis. The results indicate that the tax leverage provides a lower capital cost for third parties compared to the companies’ other onerous liabilities in the sample analyzed, proving, in this paper, that the financial strategy of not collecting taxes and using these resources to finance the activities of the companies can generate savings in the capital cost of third parties. The research contributes academically to provide an opportunity for discussion on the topic, contributes to society by exposing the public policy implications of granting tax installments, and contributes to companies by indicating the possibility of reducing the cost of third-party capital via tax leverage.

KEBERADAAN PROFITABILITAS, BIAYA OPERASIONAL DAN LEVERAGE TERHADAP PAJAK PENGHASILAN BADAN PADA PERUSAHAAN PUBLIK SEKTOR KESEHATAN

Tax is the largest income for the state. For companies, taxes are a burden that will reduce profits. Therefore, companies try to take advantage of taxes through various ways, such as using debt and maximizing operational costs. This study aims to analyze the effect on profitability, operating costs, and corporate income tax leverage. The object of research is a company that is included in the health sector based on the Indonesian Stock Exchange Industry Classification which is listed on the Indonesia Stock Exchange during 2018-2020. Sampling using non-probability sampling technique with purposive sampling technique. The results showed that the data passed the coefficient similarity test and the classical assumption test. The variation of the dependent variable is explained by the independent variable of 82.5%. The variables of profitability, operating costs and leverage simultaneously have an effect on corporate income tax. In the t-test, profitability and operating costs of Sig 0.000 mean that the second variable has a significant effect on corporate income tax. While decent leverage Sig 0.734 means that there is no evidence that leverage has a significant effect on corporate income tax. The conclusion of this study is profitability and operating costs have a positive and significant effect on corporate income tax. Meanwhile, there is no evidence that leverage has a positive and significant effect on corporate income tax.

The effects of the environmental protection tax law on heavily polluting firms in China.

In 2016, China implemented an environmental protection tax (EPTL2016) to promote the transformation and upgrading of heavily polluting industries through tax leverage. Using panel data of China’s listed companies, this study assesses the treatment effects of the EPTL2016 on the transformation and upgrading of heavily polluting firms by incorporating the intermediary role of the financial market. The empirical findings show that the EPTL2016 significantly reduced the innovation investment and productivity of heavily polluting firms but had no significant effect on fixed-asset investment. Additionally, EPTL2016 reduced the supply of bank loans to heavily polluting firms and increased the value of growth options for private enterprises and the efficiency of the supply of long-term loans to heavily polluting firms. Although the environmental policy of EPTL2016 benefits the transformation and upgrading of heavily polluting industries in many aspects, it generally hinders the industrial upgrading because of the reduction of bank loans.

Green Taxation Promotes the Intelligent Transformation of Chinese Manufacturing Enterprises: Tax Leverage Theory

A key issue that concerns governments is how to formulate optimal technology subsidies and green tax standards to promote the intelligent transformation of manufacturing enterprises. In this work, the Pollutant Emission Indicator Trading Mechanism (PEITM) is proposed, and green taxes are divided into Tax of Pollutant Emissions (TPE) and the Tax of Excess Pollutant Emissions (TEPE). On this basis, we study the impact of green taxes and technology subsidies on the intelligent transformation of enterprises in different manufacturing environments from the government’s perspective and provide the optimal government subsidy scheme under different green tax policies. Although it seems counter-intuitive, enterprises’ usual responses to increases in TPE and TEPE are non-monotonic. Moreover, we find a threshold effect for the government’s green taxation. Blindly increasing or reducing taxes may not promote intelligent transformation, but instead force enterprises towards negative choices. Lastly, an effective measure for the government to promote the intelligent transformation of manufacturing enterprises is proposed: by properly adjusting TPE and TEPE, governments can produce more cost-effective intelligent products than ordinary ones. Consequently, intelligent products will sell better than ordinary products, and manufacturing enterprises will be able to consciously carry out intelligent transformation to remain viable.

Accounting of Environmental Protection Tax on Taxable Air Pollutants in the Process of Coal Storage, Loading, and Unloading at the Port

Hao, C.; Ge, C.; Ren, J.; Dong, Z.; Hu, R.; Li, R.; Yan, Y.; Zhou, Q.; Peng, C., and Qu, A., 2020. Accounting of environmental protection tax on taxable air pollutants in the process of coal storage, loading and unloading at the port. In: Liu, X. and Zhao, L. (eds.), Today's Modern Coastal Society: Technical and Sociological Aspects of Coastal Research. Journal of Coastal Research, Special Issue No. 111, pp. 151–155. Coconut Creek (Florida), ISSN 0749-0208.The Environmental Protection Tax Law of China came into force in 2018, and China has entered a new stage where tax leverage is adopted to guide pollutant discharge units to reduce emissions. It is in this context that this article discusses the current implementation and challenges with regard to tax amount formulation, tax collection and management, and the tax system. The article takes the particulate pollution caused by coal storage, loading, and unloading as an example to discuss research progress in the accounting methods for main particulate emissions at home and abroad, evaluate the advantages and disadvantages of the existing emissions accounting methods, and make proposals for improving the environmental tax system, strengthening cross department cooperation and improving the system for disclosure of self-monitoring information, so as to promote the smooth implementation of environmental protection tax policy in our country.

TAX BURDEN AS A DISINCENTIVE FACTOR OF AGRICULTURAL PRODUCTION DEVELOPMENT IN UKRAINE

Urgency of the research. Agricultural development objectively leads to increasing investments in production. The growth of equity capital of agrarian enterprises is an important factor in increasing economic efficiency of production. Target setting. Important is the study of the investment component of the state taxation policy to agrarian industry performance as well as the impact of state administrative and financial methods of tax pressure on the formation of own funds of enterprises through the use of tax privileges, simplified taxation system, application of special regimes of payment of VAT mode, etc. Actual scientific researches and issues analysis. Definition of special taxation mechanisms for agricultural producers take place against the backdrop of the development of the legal and regulatory framework for the regulation of economic relations are analyzed in works by V. Zbarskyi, V. Matsybora, M. Kucheryavenko, V. Kurylo, V. Mushhenok and others. Uninvestigated parts of general matters defining. To study the features tendencies and features of the tax leverage effect in the system of taxation of agricultural producers in Ukraine. The research objective. To study the current state of legal regulation of the impact of tax burden on agrarian producers and to formulate proposals for improving domestic tax legislation. The statement of basic materials. It is necessary to preserve the application of the VAT regime in the field of agriculture in the wording that existed until January 1, 2016. Let us define the peculiarities of the taxation strategy and the reduction of tax pressure to agricultural payers. Conclusions. The positive impact of the economic investments in the agricultural production sector, though the described benefits in the tax system would be especially noticeable in conditions of limited budgetary subsidies, economic inefficiency of bank credits, rising prices for inputs and other forms of financial crisis.

Tax Leverage in Greece

This study examines the implementation in Greece of a type of poll tax, namely the ‘trad ing duty’. In the past, the poll tax was chiefly a fixed tax charge applied to an individual, irrespective of the latter's income, property and consumer expenditure. Similarly, the ‘trading duty’ is a fixed tax levy which runs contrary to modern perceptions of society as a who le regard ing proportional and progressive taxation. Nowadays, a fair d istribution of the tax burden must be characterized by both horizontal and vertical tax equality. The principles of universality of taxation, taxation equality, justice and certainty and the princ ip le that no tax measures should be retroactive are embodied in the Greek Constitution.In Greece, the last three years have seen the approval of numerous tax laws, non-tax laws containing artic les on tax provis ions and Ministry of Finance decisions and decrees, while, in 2012, for the first time after many decades, all sectors of the economy are ‘in the red’. Despite the gloomy financ ial environment in Greece, in fiscal year 2012 a type of poll tax was imposed as a ‘trading duty’ for traders who filed Natural Person Income Tax (NPIT) returns.The implementation of the ‘trading duty’ allows for an extension from the terms ‘Operating Leverage’ (OL) and ‘Financial Leverage’ (FL) to the term ‘Tax Leverage’ (TL). Thus, when a percentage change in Earnings Before Tax (EBT) trans lates into growth of Earnings After Tax (EAT), then the phenomenon of the magnifying effect may be called Tax Leverage (TL) and it will be due to the possible constancy of the tax burden (e.g. trading duty, poll tax).In this study, through a detailed examp le, financ ial results (Degrees of Operating, Financial and Tax Leverage) determined at different levels of sales volume exhib it similar financial characteristics. Statistically they show linearity and a strong correlation, which create reasonable grounds for introducing a new termino logy in F inance. We consider it a given that OL is determined to a large extent by techno logy and can increase or decrease as a result of decisions relating to the investment budget. Furthermore, FL is positively related to the profitab ility of Assets, when EBIT/Assets>Borrowing Costs. Then, on the basis of the data and limitations of this study, TL is positively related to the profitab ility of Assets, when EBT/Assets>Tax Costs, while the Degree of Tax Leverage and the size of EAT are directly related accordingly.Lastly, a specific degree of combined leverage can be achieved through a different mix of OL, FL and TL, in order to offset any negative results that may arise from one of the three.

Tax Leverage for Efficient Land Exploitation: A Differential Levy on Site Values as an Aid to Land Use Adjustment*

The American Journal of Economics and SociologyVolume 1, Issue 1 p. 13-36 Tax Leverage for Efficient Land Exploitation: A Differential Levy on Site Values as an Aid to Land Use Adjustment* Donald B. Ibach, Donald B. Ibach Soil Conservation Services, United States Department of AgricultureSearch for more papers by this author Donald B. Ibach, Donald B. Ibach Soil Conservation Services, United States Department of AgricultureSearch for more papers by this author First published: October 1941 https://doi.org/10.1111/j.1536-7150.1941.tb00434.x * This paper has not been submitted for the approval of the author's word in the Soil Conservation Service. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume1, Issue1October 1941Pages 13-36 RelatedInformation