법인세율 인하를 전후한 중소기업의 특수한 이익조정 분석

다국어 초록 (Multilingual Abstract)

This study theoretically and empirically analyzes the tax-minimizing behavior of small and mid-sized enterprises ('SMEs' hereafter) around the tax rate reductions enacted in 2002 and 2005, which is qualitatively different from that of big enterprises ('BEs' hereafter). Since SMEs are treated more favorably under the Corporate Tax Act than BEs in that only SMEs can take advantage of net operating loss carryback ('NOL carryback' hereafter) and can also deduct percentage-of-tax-liability up to 30% of tax liability without any corporate activities (special tax deduction' hereafter), the general expectation that taxable income and its conforming book income is deferred would not hold for SMEs, and SMEs could have different incentives to accelerate accounting earnings instead around the tax rate reductions. Specifically, this study theoretically shows that if (i) the' pre-managed taxable income for the year immediately preceding tax rate reduction and that for the year tax rate reduction is enacted are negative and positive respectively. and (ii) the sum of those pre-managed taxable incomes is positive. then SMEs can minimize tax burden by accelerating earnings. and furthermore. provides evidence that such earnings management was so prevalent around the tax rate reductions enacted in 2002 and 2005. Additionally, this study also provides evidence that the general income-deferring earnings management was not so prevalent around the tax rate reduction in 2002, when the magnitude of tax rate 'reduction was slight and managers had little time to contemplate on whether to engage in the earnings management. and. as a result. supplements previous studies. Because the government is driving a big tax rate reduction and emphasizing tax incentives for SMEs. this study is expect to help fine-tune the policy and forecast effects of the policy.

참고문헌 (Reference)

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