Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- VAT (2)
- Agency costs (1)
- Agency theory (1)
- Artificial earnings inflation (1)
- Bank loan (1)
-
- Bank monitoring (1)
- Book income (1)
- Car-flipping (1)
- Carousel fraud (1)
- Certified tax software (1)
- Contra trading fraud (1)
- Corporate behavior (1)
- Corporate governance (1)
- Corporate governance index (1)
- Customs (1)
- Entrenchment (1)
- Financial accounting (1)
- Free cash flow (1)
- Horizontal Harmonization (1)
- Income Tax (1)
- MTIC Fraud (1)
- Missing Trader Intra-Community (MTIC) Fraud (1)
- OECD (1)
- Organization for Economic Cooperation and Development (1)
- Positive accounting theory (1)
- Tax accounting (1)
- Tax income (1)
- Tax sheltering (1)
- The Lisbon Strategy (1)
- Transfer Pricing (1)
Articles 1 - 4 of 4
Full-Text Articles in Law
It-Apas: Harmonizing Inconsistent Transfer Pricing Rules In Income Tax - Customs - Vat, Richard Thompson Ainsworth
It-Apas: Harmonizing Inconsistent Transfer Pricing Rules In Income Tax - Customs - Vat, Richard Thompson Ainsworth
Faculty Scholarship
In most jurisdictions there are three separate spheres of transfer pricing analysis - income tax, customs and VAT. Although they share policy objectives, terminology and frequently borrowing methodologies from one another these domestic transfer pricing systems are not in harmony.
Businesses find this lack of harmony costly, problematical, but also a planning opportunity. The door is open for arbitrage.
What if the transfer pricing rules within a jurisdiction were harmonized? The World Customs Organization (WCO) and the Organization of Economic Cooperation and Development (OECD) are considering this question.
This paper synthesizes the range of transfer pricing regimes currently in use, …
Uk Car-Flipping: The Vat Fraud Market-Place And Certified Solutions, Richard Thompson Ainsworth
Uk Car-Flipping: The Vat Fraud Market-Place And Certified Solutions, Richard Thompson Ainsworth
Faculty Scholarship
Missing Trader Intra-Community (MTIC) fraud and its offspring carousel fraud and contra trading fraud are siphoning huge amounts of VAT revenue from the UK Treasury. This fraud is not a function of the goods involved. It is a function of the market-place. Recently another type of market-place dependent VAT fraud has taken hold in the UK - car-flipping.
In some instances the market-place where these frauds festers is a pre-existing or natural market-place, one that grows out of legitimate commercial practices. Fraudsters enter this market-place (so the argument goes) and take advantage of legitimate businesses who unwittingly get caught up …
Cross-Monitoring And Corporate Governance, Joanna M. Shepherd, Frederick Tung, Albert H. Yoon
Cross-Monitoring And Corporate Governance, Joanna M. Shepherd, Frederick Tung, Albert H. Yoon
Faculty Scholarship
We take the view that corporate governance must involve more than corporate law. Despite corporate scholars' nearly exclusive focus on corporate law mechanisms for controlling managerial agency costs, shareholders are not the only constituency concerned with such costs. Given the thick web of firms' contractual commitments, it should not be a surprise that other financial claimants may also attempt to control agency costs in their contracts with the firm. We hypothesize that this cross-monitoring by other claimants has value for shareholders.
We examine bank loans for empirical evidence of the value of cross-monitoring. Our approach builds on prior empirical work …
Financial Accounting And Corporate Behavior, David I. Walker
Financial Accounting And Corporate Behavior, David I. Walker
Faculty Scholarship
The power of financial accounting to shape corporate behavior is underappreciated. Positive accounting theory teaches that even cosmetic changes in reported earnings can affect share value, not because market participants are unable to see through such changes to the underlying fundamentals, but because of implicit or explicit contracts that are based on reported earnings and transaction costs. However, agency theory suggests that accounting choices and corporate responses to accounting standard changes will not necessarily be those that maximize share value. For a number of reasons, including the fact that executive compensation often is tied to reported earnings, managerial preferences for …