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on Accounting and Auditing |
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Issue of 2017‒09‒03
six papers chosen by |
| By: | Bertrand Laporte (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique); Céline De Quatrebarbes (FERDI - Fondation pour les études et recherches sur le développement international - FERDI [FERDI]); Yannick Bouterige (FERDI - Fondation pour les études et recherches sur le développement international - FERDI [FERDI]) |
| Abstract: | The lack of information about the sharing of mining resource rent between governments and investors is an easy statement to make for Africa. The existing datasets are often insufficient for a deep analysis of African tax law as applied to the natural resource sectors, which has limited the academic and operational approaches. This paper describes the first legal and tax database which specifies the tax regime applied to industrial gold mining companies in 14 African gold-producing countries from 1980 to 2015. The database has three major innovations: (i) an inventory of taxes and duties (rate, base and exemptions) payable during the prospecting phase and mining phase of a gold project; (ii) a new detailed historical record covering 1980 to 2015; (iii) the link between each piece of tax information and its legal source. This database is used to make a first analysis of mining tax regimes and rent sharing in the main gold-producing countries. The first results highlight the heterogeneity of tax regimes between English-speaking and French-speaking countries. There has been a convergence of the average effective tax rates across most of the countries, the effective tax rate has increased in most countries following the tax reforms undertaken since 2010.The database is downloadable following the link :http://www.ferdi.fr/en/node/3198. |
| Keywords: | Mining sector,Gold,Taxation of natural resources,Database. |
| Date: | 2017–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01545361&r=acc |
| By: | Maïmouna Diakite (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique); Jean-François Brun (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique); Souleymane Diarra (Commission de l'Union Economique et Monétaire Ouest Africaine); Nasser Ary Tanimoune (University of Ottawa [Ottawa]) |
| Abstract: | A main objective of the regional integration in West African Economic and Monetary Union (WAEMU) is the effective harmonization of national legislations at Community level notably tax legislation. To coordinate taxation in the zone, WAEMU Commission translates into Directives the Decisions taken by the Council of Ministers of the member states. The implementation of the Community acts by countries through tax reforms may impact on their revenue performance. This paper evaluates the impact of the Directives both in terms of coordination and revenue mobilization. It relies on a comparative case study using the synthetic control method developed by Abadie and Gardeazabal (2003) and extended by Abadie, Diamond, and Hainmueller (2010 & 2015). The main results are that the tax coordination affected the revenue mobilization in the Union but the impact is different across countries. |
| Keywords: | Tax coordination\harmonization,Tax,WAEMU.,Tax reform,Synthetic control method |
| Date: | 2017–06–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01535104&r=acc |
| By: | Robert Deyoung (Kansas University, School of Business); Isabelle Distinguin (LAPE - Laboratoire d'Analyse et de Prospective Economique - UNILIM - Université de Limoges - IR SHS UNILIM - Institut Sciences de l'Homme et de la Société); Amine Tarazi (LAPE - Laboratoire d'Analyse et de Prospective Economique - UNILIM - Université de Limoges - IR SHS UNILIM - Institut Sciences de l'Homme et de la Société) |
| Abstract: | The Basel III Accord imposes minimum liquidity standards on bank balance sheets that are already constrained by minimum capital standards. It is not clear whether or how banks' behaviors will change in this new joint-constraint regime. To gain some insight, we study the balance sheet liquidity behavior of U.S. banking companies in response to negative equity capital shocks prior to the implementation of Basel III. Our 1998-2012 data indicate that banks treated regulatory capital and balance sheet liquidity (e.g., net stable funding ratios, core deposits-to-loans, liquid assets-to-assets) as substitutes rather than complements. This main finding is limited to so-called 'community banks' with assets less than $1 billion; equity capital and liquidity were neither substitutes nor complements at larger banks. In the course of rebuilding their capital ratios, shocked community banks substituted away from loans and loan commitments and reduced their dividend payouts, actions that resulted in greater balance sheet liquidity. Thus, in the state of nature that has traditionally most concerned bank regulators (i.e., stress to bank equity capital), community banks increase their liquidity buffers. Given that these lenders do not pose systemic risk, and that they have historically exceeded the Basel III liquidity minimums by wide margins, our findings suggest that imposing minimum liquidity thresholds on small banks will likely yield little prudential benefit. |
| Keywords: | Bank capital,bank liquidity,Basel III,lending,net stable funding ratio |
| Date: | 2017–07–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01559053&r=acc |
| By: | Manasan, Rosario G. |
| Abstract: | Despite various reform efforts over the years, the tax system in the Philippines continues to suffer from chronic weaknesses. The Duterte administration is pursuing a simpler, more efficient, and more equitable tax system to support its economic growth strategy. The administration's Comprehensive Tax Reform Program was filed as House Bill (HB) No. 4774 in January 2017 at the lower house and Senate Bill (SB) No. 1408 at the Senate. These bills represent the first of several reform packages that will each focus on different areas of tax policy. The House of Representatives approved a compromise bill, HB 5636, titled "Tax Reform for Acceleration and Inclusion" or TRAIN in May 2017. HB 4774, HB 5636, and SB 1408 seek to reform the structure of the personal income tax, value-added tax, and excise tax on petroleum products and automobiles, while improving the progressivity of the tax system. A portion of the additional revenues generated will be earmarked for investments in education, infrastructure, and health to stimulate long-term growth. This paper aims to assess the implications of these bills on the distribution of tax burden across income groups, economic incentives in affected sectors, national government revenues, and likely impact on tax compliance. |
| Keywords: | Philippines, personal income tax, tax reform, value-added tax, excise tax on petroleum, excise tax on automobiles, excise tax on sugar sweetened beverages |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-27&r=acc |
| By: | Benjamin Montmartin (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique); Marcos Herrera (Universidad Nacional de Salta, CONICET - Consejo Nacional de Investigaciones Científicas y Técnicas); Nadine Massard (UGA - Université Grenoble Alpes, GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes) |
| Abstract: | Using a unique database containing information on the amount of R&D tax credits and regional, national and European subsidies received by firms in French NUTS3 regions over the period 2001-2011, we provide new evidence on the efficiency of R&D policies taking into account spatial dependency across regions. By estimating a spatial Durbin model with regimes and fixed effects, we show that in a context of yardstick competition between regions, national subsidies are the only instrument that displays total leverage effect. For other instruments internal and external effects balance each other resulting in insignificant total effects. Structural breaks corresponding to tax credit reforms are also revealed. |
| Keywords: | structural breaks,R&D investment,spatial panel,Additionality,French policy mix |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01559041&r=acc |
| By: | Aurore Burietz; Kim Oosterlinck; Ariane Szafarz |
| Abstract: | According to the syndicated loan pricing puzzle (Carey and Nini, Journal of Finance, 2007) interest rates charged to corporate borrowers are lower in Europe than in the U.S. Our investigation suggests that controlling for region-specific credit ratings makes the Europe-U.S. gap insignificant, and solves the puzzle. We speculate that the puzzle originates from the lack of uniformity of accounting standards. |
| Keywords: | Pricing puzzle; Syndicated loan; Rating; Europe; U.S. |
| JEL: | E40 G15 G21 G24 |
| Date: | 2017–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/256702&r=acc |