such research in accounting. In contrast to related literature reviews of Shackelford and Shevlin (2001) and Hanlon and Heitzman (2010) that have a broad focus and examine tax research in accounting in a general sense, I concentrate on what is known and unknown about tax-induced earnings management and shed light on CTR changes from a tax accounting perspective. One reason for this is that an increasing number of studies are being published on this topic and considering the tax nature of these studies, they should be of interest to researchers outside the
capital gains, taxation of carried interest, deductibility of interest expenses and management fees, withholding taxes on interest and dividends, and the applicability of anti-avoidance rules. Moreover, an import issue concerns the question of whether the investment in a private equity fund may create a permanent establishment (PE) for foreign investors. Cf. G. Letizia, International Tax Issues in Relation to Cross-Border Investment Funds , 43 Intertax 8/9, p. 526-530 (2015) and E. Cacciapuoti, Private Equity Funds, Permanent Establishments and Italian Operations
Since 2013, when Vodafone published its ground-breaking Tax Risk Management Strategy, Available at the time of writing at http://www.vodafone.com/content/dam/sustainability/pdfs/vodafone_tax_risk_management_strategy.pdf . prescribed levels of acceptable tax risk have been used to articulate degrees of corporate responsibility with regard to tax. In Vodafone’s case, the claim was as follows:
The Group aims for certainty on tax positions it adopts but where tax law is unclear or subject to interpretation, written advice or confirmation will
not be quite as important, but is still highly desirable. Thus, from a predictability perspective, the decisive moment should be placed at the time of the transaction. Taking aim at the circumstances on another date than at the time of the transaction could also lead to companies having advantages or disadvantages in taxation that management has not been able to predict. If the taxpayer (or its management) can foresee the tax consequences before a transaction, taxation can also work as an efficient social instrument. Fuller, The Morality of Law, 1969 s. 60.
Old age, illness, and/or physical and/or mental disabilities may limit the ability of an individual to generate enough income to cover basic costs of living. Most developed nations provide financial assistance to persons with limited abilities. In 1974, an Icelandic government passed an act of law providing a tax credit, payable to taxpayers under certain conditions. The tax allowance was applied first to settle the taxes and public levies owed by the taxpayer, with any amount remaining paid out to the individual. This system can be seen as a first, limited attempt at establishing a partial universal basic income of sorts. This social interaction between stakeholders on how to share the tax revenue between the taxpayers led to a government crisis. The shareholders in this partial universal basic income system, the state and municipalities, the old age community, the trade unions, and the employers all have different financial and political interests and were affected by this reform. The lesson is that a basic income would need strong supporters if implemented, where the role of the government and/or the parliament would be mapped. Its supporters must be able to withstand the pressure from the social partners in the labor market because of the interactivity of the social security system and the pension fund system, which is not a part of the fiscal system in Iceland. The conflict of interests becomes apparent.
justly treated, thus increasing their understanding of and solidarity with tax regulations, which confirmed the legitimacy of the tax system ( Höglund and Nöjd (2014) ).
The present article discusses the organisational and psychological provisions and support required for tax officers to meet the demands of the top management. Some of the examples are selected from the Swedish Tax Agency, but applies probably equally to tax administrations in other countries, such as the Nordic countries, while they are organised in a similar way. Although personal qualities are
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Braithwaite J., (2003), Meta Risk Management and Responsive Regulation for Tax System Integrity, Law & Policy, 25(1), 1-16.
Braithwaite V. (Ed.), (2003), Taxing Democracy. Understanding Tax Avoidance and Evasion. Aldershot: Ashgate Publishing Group.
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This study seeks answers to the questions raised above. In particular, the questions are examined with regard to institutional investors managing the funds, not those private investors investing for their own benefit, or who have transferred their funds to an asset management firm. The various research questions posed above can be combined to form a single question: How do institutional investors committed to SRI see the role of tax matters in their responsibility analysis, and how does this analysis of tax matters affect their investment decisions or other