纳税筹划文献综述及外文文献资料
《纳税人筹划研究的文献综述2100字》
纳税人筹划研究的国内外文献综述1.1 国外研究现状纳税人的筹划最早可能诞生于西方较发达国家。
19世纪中期,这一专业领域的税务专家首次主要出现在意大利,为中国企业和其他个人客户提供企业税务管理咨询服务。
这种企业税务政策咨询服务就是把企业纳税服务筹划和外来咨询作为其主要的服务内容,这样也便是原始传统意义上的企业纳税服务筹划。
Scott Rick(2022)笔者认为,也正是美国美国联邦企业所得税的高度复杂性,使得为提高企业会员提供纳税相关性的一系列企业纳税政策筹划咨询服务得以发展到成为一种专门的税务职业,且大多数的创业公司都已经聘请了一批具有丰富相关纳税专业知识的资深税务会计专家,研究相关税法对创业公司日常生产以及经营的直接影响,从而发现采取一定的减税措施可以减少企业税款的超额缴纳。
除一些税务咨询专家外,还有一些税务中介机构,比如说好像执业律师事务所、会计师助理事务所、审计师助理事务所等,他们提供的服务中纳税筹划占据很大的比重[3]。
Mario Morger(2022)通过系统性地梳理与分析归纳了跨国纳税公司每年纳税财务筹划的具体内容,其中所述的具体的公司纳税财务筹划管理技术对跨国纳税公司实际经营管理影响颇深。
markatkinson和mrdavidtywell(2023)从税收转让筹划定价的理论角度,对我国税收转让筹划问题进行深入研究。
对企业转移资产定价的基本理论、方法、具体操作性和技能以及定价相关实际问题案例进行了深入的理论阐述和案例分析。
Malhotra (2021)通过对国外企业购销业务的研究,认为税收筹划是企业经营活动成败的关键。
salvadorbarrios等(2020)税收探寻问题讨论国内和国际东道国的相关税收政策对亚洲地区经济选择和决策制定的重要影响。
manxiayuan(2021)本文解释了实行税收合理经济筹划在以后经济发展的巨大重要性,对实行税收合理筹划的主要原因后果进行重点强调。
企业纳税筹划文献综述
企业纳税筹划文献综述纳税筹划，有时也被称为税收筹划或税务筹划。
在19世纪中期的意大利就己经出现了纳税筹划。
但是，纳税筹划是在20世纪30年代得到社会上的关注和法律上的认可。
在1935年，英国上议院议员汤姆林爵士(Tom Lin Sir)在“税务局长诉温斯特大公一案”中声明:“任何个人都有合法行使纳税筹划的权利，依据法律这样做可以少缴纳税款。
为了确保可以从这些行为中得到利益，不能强迫他人多缴纳税款。
”Tom Lin Sir的观点最终赢得了法律界的认可，这也是第一次对纳税筹划做出了法律上的认可，在此之后，这一税收的审判原则也经常会被其它欧洲的国家所引用。
在20世纪50年代，纳税筹划真正形成了一套较为完整的理论和实务体系:其标志是1959年在欧洲成立的由包括英国、法国、比利时等20多个欧洲国家从事税务咨询业务的专业人士和团体组合而成的税务联合会，其明确提出了税务专家是以税务咨询为中心而展开的税务服务，并且从事于那些现代意义上的税务代理活动。
随之以纳税筹划为核心的研究也开始逐渐深化，相关的研究书刊和文章也如雨后春笋般不断的涌现。
有关与中小企业纳税筹划的研究也在这样的背景下逐渐开始发展起来的。
通过借鉴国外中小企业纳税筹划的研究，本文认为其对中国的中小企业纳税筹划的研究有很强的指导和借鉴意义。
迈伦·斯科维尔在其编著的《Tax and enterprise strategic planning methods》（纳税与企业战略筹划方法）中提出了如何有效进行纳税筹划的理论，并对其进行了深入的分析，他认为有效的纳税筹划会在实现利益最大化的决策过程中要考虑到纳税的作用。
当社会交易成本较为昂贵时，实施税负最小化的策略，有可能会因为非税因素导致成本大量的增加，使得有效纳税筹划同税负最小化相偏离。
另外，书中还提到由于每个组织的形式、规模、产权结构及管理水平存在差异，开展纳税筹划的具体方法也是不同的，具体情况具体分析。
浅析新时期个人所得税纳税筹划外文资料及翻译(可编辑)
浅析新时期个人所得税纳税筹划外文资料及翻译Superficial analysis of the design of new ear personal income taxBy Jody BlazekAbstractWith China's economic development, personal income increased dramatically, followed by personal income tax burden will increase significantly. Personal income tax planning it caused widespread concern. So the premise of how the tax law, through planning, reduce the tax burden, the article introduced in detail the significance of personal income tax planning and the necessity, personal income tax planning major tax-related items.Keywords: Individual income tax; tax planning; significance; necessity; major tax-related itemsWith the economy growing, gradually raise the living standards of our people, the sources and forms of personal income are becoming increasingly diverse, more and more people become personal income taxpayers. Accordingly, revenue from personal income tax in the proportion also showed a rising trend year by year, to maintain the vitalinterests of the perspective of reducing the tax burden, personal income tax planning more and more taxpayers are highly valued. So how to make the taxpayers under the premise of not against the law, reduce the tax burden as much as possible, to gain imum benefit has become an important research content, the personal income tax planning has become increasingly important.The significance of personal income tax planning and the necessity Many taxpayers from the past secretly or unconsciously adopt various methods to reduce their tax burden, development of active tax planning through to reduce the tax burden. However, in some tax planning ideas and knowledge are often opportunistic together. At the same time some people puzzled: "Tax Planning in the premise is not illegal, but the plan itself is not a violation of the spirit of national legislation and tax policy-oriented it? Desirable tax planning it?" In this context, the correct income tax guide taxpayers on tax planning and tax of the economic development of the more important practical significance, great deal of research necessary.1. Personal income tax planning is conducive to long-term development units.2. Helps to reduce the unit's tax expenditures.3. Helps to reduce the individual's own tax evasion, tax evasion and other illegal acts occur, and enhance tax awareness and realizationof tax honesty.Third, personal income tax planning for tax-related itemsPlanning ideas. First of all, develop a reasonable tax avoidance scheme. Is through the study of the current tax law, income of individuals expected in the near future to make the revenue arrangements, through the time and amount of income, payment, and reaches purpose of reducing the amount of nominal income, thus reducing tax level to reduce the tax burden or exempt taxes. Second, take reasonable tax avoidance strategy. Personal income tax planning can be reasonable to consider the following aspects: improving the level of employee benefits and reduce the nominal income; equilibrium level of wage income each month; can deduct the cost of seizing all opportunities and make full use; use of tax incentives.2. The main tax-related project planning application.1 wage and salary income planning. Progressive tax rates from the nine tables can be seen over, because of the wage and salary income is taken over nine progressive tax rate, so the higher the income, the higher the tax rate applicable to the tax burden heavier. In the periphery of each level, the income may be only a difference of a dollar, but the personal income tax borne by the tax burden will be very different. However, by taking some of the legitimate means of planning, can avoid such an unfair place. There are many specific methods, are:Equilibrium income method. Personal income tax with progressiverates usually, if the taxpayer's taxable income the more, the highest marginal tax rate applicable to the higher, so the average taxpayer's income tax rate and effective tax rate may increase. Therefore, the total income of the taxpayer a period of time given the circumstances, its contribution to the income of each tax period should be balanced, not ups and downs, in order to avoid increasing the tax burden of taxpayers. For example: a staff of 1,500 yuan monthly salary, the company usually taken to the payment of wages, end of year performance-based management approach to implement the pay award. Assuming that the end of the year employees 12 month and get a bonus of 6,000 yuan, then the employee's personal income tax to be paid throughout the year as [1500 +6000 - 2000] × 20% - 375 725 dollars. If the company will be 500 yuan per month by year-end awards along with the payment of wages, the wages of employees for 2000 yuan a month, the annual income for tax purposes.Use of employee benefits planning. Tax payable Taxable income × Applicable tax rate - quick deduction. In the file under the conditions of constant tax rates, reducing their income by way of making their use a lower tax rate, while the tax base is also smaller. Approach is feasible and units agreed to change their payment method of wages and salaries, which some of the units to provide the necessary benefits, such enterprises to provide shelter, it is reasonable tax personal income tax effective way. Enterprises can also provide holiday travel allowance,provide staff welfare facilities, free lunches, etc., to offset their wage and salary income.Cost difference between using the standard deduction. Tax law, deduct the cost of wage and salary income amounted to 2,000 yuan, labor income from more than 4,000 yuan a single 20% of the costs incurred. In some cases, the wage and salary income and income from remuneration for separately, and in some cases the wages and salaries combined with the services will save the tax return, and thus its tax planning to have some possibilities.Cases, Lee February 2006 A company from wages and salaries of 1,000 yuan, the unit wage is too low, the same month in the B Lee to find a part-time company achieved income of 5,000 yuan. If Li and B company does not have fixed employment relationship, in accordance with tax law, wage and salary income and income from remuneration for personal income tax should be calculated separately. A company has made from the wages, salaries did not exceed the deduction limit, do not pay taxes. Obtained from the B company taxable amount of remuneration: 5000 × 1 - 20% × 20% 800 yuan, the Wang in February were 800 individual income tax to be paid; if Mr. Lee and the existence of a fixed B Company the employment relationship, the two should be combined by income wage and salary income to pay personal income tax: 5000 +1000- 2000 × 15% - 125 475 million.Clearly, in this case, the use of wage and salary income tax payablecalculated is wise, therefore, Lee B should be signed with a fixed employment contract, will the income from B Company to the way wages and salaries paid to Lee.2 income from remuneration planning. On income from remuneration of a 20% rate applies, but for the case of a one-time implementation of high income plus collection, in effect amounts to three levels of progressive rates. Income from remuneration has its own characteristics, the following for its characteristics, the analysis of tax planning. Number of planning law. With different wage and salary income, income from remuneration for taxation is based on the number of the standard, rather than months, so the number of times to determine the income tax paid, which is critical to planning for the labor income tax return as a factor when the first considerationRemuneration is based on the standard number of times, deducted a fee each time, so that within one month, the number of labor remuneration paid more the more deductible expenses, the tax should be paid less. So when the taxpayers in the provision of services, reasonable arrangements for tax time, the number of monthly remuneration received, you can deduct legal fees many times, reducing the amount of taxable income each month to avoid the higher tax rates apply, so that their net increased.For example: a public listed company of an expert advisory services, according to the contract, each of the listed company of the expertadvisory fees paid 60,000 yuan. If a tax declaration by a person if their taxable income as follows:One-time reporting taxable income 6-6 × 20% 4.8 million Tax payable 4.8 × 20% × 1 +50% 1.44 millionIf it is 3 times per month, every 2 million tax returns, the amount of tax payable as follows:Payable monthly reporting 2 - 2 * 20% 1.6 millionTax payable 1.6 × 20% 0.32 millionMonthly tax payable 0.32 * 3 0.94 millionWhen comparing the two tax saving 1.44-0.94 0.5 millionCosts offset method. That by reducing the nominal income from remuneration in the form of planning, will cost the taxpayers should be replaced by the owners, to achieve the reduction in nominal labor compensation purposes. Wage and salary income conversion method. Through the wage and salary income into income from remuneration, pay personal income tax by labor income, is more conducive to reducing tax expenditures.Example: Mr. Song is a senior engineer, May 2008 to obtain a company income of 63,700 yuan of wages. Song and the company if the existence of a stable employment relationship, according wage and salary income tax, the tax payable 63700-2000 × 35% -6375 15220 yuan. If the Song and the company a stable employment relationship does not exist, this income istaxed according to perjury.Amount of tax payable 63700 × 1-20% × 40% -7000 13384 yuan. If he can save taxes 1,836 yuan.Summary:As China's economic development, the personal income tax impact on our lives will become increasingly large, and its position will become increasingly important. Making tax planning, each taxpayer must be the extent permitted by laws and regulations reasonably expected taxable income, which is the basic premise. On the basis of protection of interests of the taxpayers through the tax planning to imize personal income tax for the improvement and popularity, with significant practical significance.浅析新时期个人所得税纳税筹划By Jody Blazek摘要随着中国经济的发展,个人收入也急剧增加,随之而来的个人所得税负担也就明显加重。
企业并购中的纳税筹划文献综述
企业并购中的纳税筹划文献综述企业并购中的纳税筹划文献综述【摘要】 20世纪以来并购已经成为企业快速扩张和整合的重要手段之一。
为了探究企业并购的纳税筹划，国内外学者从不同角度做了大量的研究，本文对国内外有关企业并购中的纳税筹划重要文献进行了总结和梳理，并指出了并购中的纳税筹划现有研究的局限性和进一步值得研究的领域。
【关键词】并购纳税筹划文献综述一、国外研究现状1、税收对企业并购影响的相关理论莫迪利亚尼和米勒（1958）（Miller M.H.和Modigliani F）提出的MM 定理早期观点认为在没有所得税的情况下公司价值与企业资本结构没有关系，不会因为债权资本增加而增加，1963年加入了企业所得税因素后发现：由于企业的负债利息可以免税，负债增加，企业的加权平均成本就会降低，因此负债会因利息的抵税作用而增加企业价值，对投资者来说也意味着更多的可分配经营收入。
诺贝尔经济学奖得主之一迈伦?斯科尔斯（Myron Samuel Scholes）（1976）等人提出了“显性税收”和“隐性税收”，并研究了“税后收益最大化”与“税收套利”问题。
艾克堡（Eckbo）（1983）提出了税收对并购的一些具体作用，税制中尤其是所得税是激励公司并购的主要因素，并购更加突出了税盾效应，税法中的企业资产价值重估增值使折旧增加、亏损递延等都能使企业合理避税，人们会调整交易方式，尽可能减少税负。
Shrieves和Pashley（1984）认为企业在控制了规模与产业的影响后，财务杠杆比率显著增加，并购后公司的举债能力大于并购前的负债能力之和，使公司税盾效应增加。
斯莫劳克、贝蒂和梅耶德（Beatty Smirlock和Majd）（1986）认为，并购中降低税负同时影响税收动机，有些并购活动如转移税负、延长纳税时间等可能是考虑了税收最小化的影响。
迈伦?斯科尔斯与马克?沃尔夫森认为，美国在1986年《税收改革法案》颁布之前，企业在并购交易中可以利用目标企业净亏损结转和折旧挡板效应实现节税，1986年新法案取消了税收并购中的激励措施，潜在税收利益也就随之消失。
企业税收筹划外文翻译文献
企业税收筹划外文翻译文献企业税收筹划外文翻译文献(文档含中英文对照即英文原文和中文翻译)Corporate Tax-Planning Effectiveness: The Role of Compensation-BasedIncentives (Ⅰ)John D. Phillips University of ConnecticutABSTRACTThis study investigates whether compensating chief executive officers andbusiness-unit managers using after-tax accounting-based performance measures leads to lower effective tax rates, the empirical surrogate used for tax-planning effectiveness. Utilizing proprietary compensation data obtained in a survey of corporate executives, the relation between effective tax rates and after-tax performance measures is modeled and estimated using a two-step approach that corrects for the endogeneity bias associated with firms' decisions to compensate managers on a pre- versus after-tax basis. The results are consistent with the hypothesis that compensating business-unit managers, but not chief executive officers, on an after-tax basis leads to lower effective tax rates.KEYWORDS tax planning; performance measures; endogenous treatment effects.I. INTRODUCTIONEffective tax planning, defined by Scholes et al. (2002) as tax planning that maximizes the firm's expected discounted after-tax cash flows, requires managers to consider their decisions' after-tax consequences. In this paper, I investigate whether after-tax accounting-based performance measures lead to lower effective tax rates (ETR), my empirical surrogate for tax planning effectiveness.1 The ETR, an income-statement-based outcome measure calculated as the ratio of total income tax expense to pre-tax income, generally measures the effectiveness of tax reduction strategies that lead to higher after-tax income. A lower ETR, however, can only proxy for tax savings and does not always imply that after-tax income and/or cash flows have been maximized.2 Despite this limitation, the ETR has been used to measure the effectiveness of spending on the tax function (Mills et al. 1998) and corporate tax department performance (Douglas et al. 1996). Also, lowering the ETR is frequently cited as a way to increase earnings (e.g., Ziegler 1997) and increase share price (e.g., Mintz 1999; Swenson 1999).Accounting research has addressed the relation between accounting-based compensation and managers' actions (e.g., Larcker 1983; Healy 1985; Wallace 1997). This paper is the first to address whether after-tax accounting-based performance measures motivate managers to take actions that help lower their firms' ETR and does so at both the chief executive officer (CEO) and business-unit (SBU) manager levels.Prior after-tax performance measure research has focused only on the determinants of compensation CEOs using pre- versus after-tax earnings (e.g., Newman 1989; Carnes and Guffey 2000; Atwood et al. 1998; Dhaliwal et al. 2000) and provides no evidence concerning after-tax compensation's effectiveness in lowering a firm's tax liability. Extending this investigation to the SBU level is motivated out of the apparent conflict between arguments that taxes should be allocated to SBU for incentive compensation purposes (e.g., McLemore 1997) with empirical observations that a majority of firms do not do so (e.g., Douglas et al. 1996).4 The current investigation provides evidence concerning the incremental effectiveness of explicitly motivating CEOs and SBU managers to incorporate tax consequences into their operating and investment decisions.A common issue in cross-sectional studies that attempt to link a particular management accounting choice to an outcome measure is that all sample firms may be optimizing with respect to the choice being investigated (Ittner and Larcker 2001). Without addressing the endogeneity of a firm's choice, it is difficult to provide evidence consistent with this choice leading to an improved outcome. To address this issue, the relation between ETR and CEO and SBU-manager after-tax performance measures is estimated using a two-step approach that helps correct for the potential endogeneity bias associated with these two choice variables. As a first step in implementing this approach, the Antle and Demski (1988) controllability principle is used to model a firm's decisions to adopt after-tax CEO and SBU-manager performance measures. To include a particular measure in a manager's compensation contract, this principle requires that the expected benefits from holding a manager responsible for a measure must be greater than the additional wage that must be paid to compensate the manager for the resulting additional risk and effort. Accordingly, an after- tax performance measure should be used as a contracting variable in a manager's incentive compensation contract only if the manager's involvement in tax-planning efforts leads to a difference between pre-tax and after-tax accounting results, which is generally reflected in the ETR. Consistent with prior research, the pre- versus after-tax CEO and SBU-manager selection models include variables that control for a firm's tax-planning opportunities because the presence of such opportunities reflect the extent to which a manager's actions can be expected to lower the ETR.Even if a manager's efforts are expected to lead to a lower ETR, a firm will use an after-tax performance measure only if the expected benefits exceed the expectedcosts of doing so. An after-tax performance measure is expected to lead to a lower ETR because it motivates the manager's increased cooperation with tax professionals to help identify, develop, and execute tax-planning strategies. McLemore (1997, 1) cites Hewlett Packard's tax director to support the need for SBU-manager involvement in tax-planning efforts:Tax planning is only as good as being involved in the early stages of such things as business planning, strategic planning, and merger and acquisition work....Your tax department has to be represented at the table when those decisions are made. The evolving model for the future is the tight integration of tax people with business unit planning.Costs associated with using after-tax performance measures include the additional wage that must be paid to compensate the manager for the increased risk due to potential tax law changes and the increased effort that results from including income tax expense in the compensation contract. Other potential costs associated with after-tax compensation include the administrative cost of allocating tax expense to a firm's SBU, increased tax examination costs, and increased tax authority scrutiny. Contrary to measuring after-tax compensation's benefits via observed ETR, there are no clear empirical surrogates for after-tax performance measures' costs. This study thus focuses on the realized benefits of compensating managers on an after-tax basis but does not provide evidence of the associated costs' magnitude.Proprietary data obtained in a survey of corporate executives are used to construct certain test variables, including those indicating whether CEOs and SBU managers are compensated using after-tax accounting-based performance measures. Publicly available data are used to construct ETR and other test variables. The results are consistent with the hypothesis that compensating SBU managers, but not CEOs, on an after-tax basis leads to lower ETR, resulting in an estimated median tax savings of $13.3 million annually. Sensitivity tests performed on a subsample of firms with high simulated MTR (Graham 1996) provide further evidence that low-MTR firms' potential ETR-lowering actions that could have ambiguous effects on cash flows and after-tax profits are not driving this result. Further sensitivity tests help rule out the proportion of tax function outsourcing as an alternative explanation for the statistically and economically significant negative relation between after- tax SBU-manager compensation and ETR.The results contribute to the accounting-based compensation literature by linking after- tax accounting-based performance measures to SBU-manager involvement that is incrementally effective in lowering firms' ETR. Consistent with Guidry et al. (1999) who document bonus-induced earnings management at the SBU level, this finding provides additional insight into the effect that SBU-manager accounting-based incentives have on managers' actions. Also, the estimated explicit tax savings resulting from after-tax performance measures provide corporate decision makers with information relevant to the design of SBU-manager incentive compensation plans.The paper proceeds as follows. The next section sets forth the hypotheses tested in this study. Section III outlines the empirical models and estimation procedures used in testing these hypotheses. Section IV provides a discussion of the data and sample, including a brief overview of the survey used to obtain proprietary compensation data. Results are presented in Section V. The final section provides the conclusion and a discussion of the study's limitations.II. HYPOTHESIS DEVELOPMENTNewman (1989), Cares and Guffey (2000), and Atwood et al. (1998) investigate firms' choices of after-tax earnings as the contracting variable in CEO bonus plans. These studies hypothesize that firms with greater tax-planning opportunities, consistent with the Antle and Demski (1988) controllability principle, are more likely to use after-tax performance measures. Using proxies for tax-planning opportunities, these studies collectively find that multinational status, number of operating segments, firm size, and capital intensity are positively associated with after-tax CEO compensation. Atwood et al. (1998) also presents evidence that leverage is negatively associated with this choice.企业税收筹划的有效性：基于对报酬的激励作用（上）约翰D·菲利普斯康涅狄格大学摘要本研究探讨首席执行官是否修正主管和业务部门经理利用税后会计为基础的绩效措施，导致较低的实际税率，以报酬激励用于税收筹划的有效性。
企业纳税筹划外文文献翻译
文献出处：MUCAI G P, KINYA G S, NOOR A I, et al. Tax Planning and Financial Performance of Small Scale Enterprises in Kenya[J].2014：3：1236-1243.原文Tax Planning and Financial Performance of Small Scale Enterprises in KenyaMUCAI G P, KINYA G S, NOOR A IAbstractIn order to ensure the efficiency and effectiveness of activities, reliability and compliance with applicable laws, small scale enterprises need to have adequate tax controls. The study sought to find out the extent to which expenditure on capital assets in tax planning, to determine how tax planning by Capital Structure influence performance of small enterprises, find out how tax planning through Advertisement expenditure influence performance of small enterprises and to assess how tax planning through Legal Forms of enterprise influence performance of small enterprises in Embu CBD. The study had a total population of one hundred and forty nine respondents and a sample of 30 percent was drawn from each stratum. The data was then presented in form of Percentages and Tables. The study found the influence of tax planning by capital structure, tax planning in investment, capital asset planning through advertisement expenditure and found that the Legal Forms of small enterprises in Embu CBD has no significant relationship. The study recommends that small scale enterprises should be ready to seek advice on tax planning. Further to this, the study recommends that there is need to have NGOs to sensitize the respondents as to the need to do formal tax planning as it could increase their Business profitability. Key Words: Tax Avoidance, Tax Evasion, Tax Planning, Capital Structure.IntroductionThe concept of taxation has been a concern of global significance as it affects every economy irrespective of national differences (Oboh et al., 2012). Within thecontext of Africa, tax, a concept as old as mankind can be described as an amount, effort, contribution or service rendered either in kind (goat, cow, farm produce, clearing of grass etc.) or monetary value contributed into a common purse for the running of the society. According to Omotoso (2001), in his definition of the modern taxes, defined tax as a compulsory charge imposed by a public authority on the income of individuals and companies as stipulated by the government decrees, acts or case laws irrespective of the exact amount of services rendered to the payer in return. Thus, taxes constitute the principal source of government revenue and the beauty of any government is for its citizen to voluntarily execute their tax obligations without much coercion and harassment (Adedeji and Oboh, 2012).Tax evasion and fiscal corruption have been a general and persistent problem throughout history with serious economic consequences, not only in transition economies, but also in countries with developed tax systems (Raza, 2011). In general, tax evasion and corruption can have ambiguous effects on Economic growth: tax evasion increases the amount of resources accumulated by entrepreneurs, but it also reduces the amount of public services supplied by the government, thus leading to negative Consequences for economic growth (Roy and Raffaella, 2011). Previous studies highlight reports of declining effective tax rates and a rising proportion of firms that report little or no tax liability. To date, the maintained assumption in much of the literature is that aggressive tax behavior, rather than economic trends, is the driving factor behind this decline (Desai and Dharmapala 2009).The Kenya Revenue Authority (K.R.A) is the tax collection agency of Kenya. It was formed July 1, 1995 to enhance tax collection on behalf of the Government of Kenya. It collects a number of taxes and duties, including: value added tax, income tax and customs. Since KRA's inception, revenue collection has increased dramatically, enabling the government to provide much needed services to its citizenry like free primary education and Health Services to all. Over 90% of annual national budget funding comes from local taxes collected by the KRA (GOK, 2010).It is however important to establish whether the observed increased revenue collection effectiveness has resulted from aggressive tax management by Kenya Revenue Authority (KRA) or whether it is, in part, due to increased use of the new economy business model. This is important because the sources of tax avoidance have distinct policy implications. The policy response to tax avoidance arising from aggressive tax schemes and investments in tax planning is likely to be very different from the response to tax avoidance stemming from a shift in many firms' organizational, operating, and financing attributes, which enable them to exploit their operating flexibility to naturally align with tax incentives that generate tax savings (Drucker 2006).The decreasing trend in effective tax rates may not be solely due to aggressive tax management but Rather, firms' modifications to their business models resulting from changing economic trends potentially enabling them to reduce tax burdens without additional investments in tax planning (Blouin, and Larcker 2011). Performance of Small EnterprisesDifferent approaches are used for performance evaluation in which goal approach, time frame approach, balanced scorecard , system approach, and ineffectiveness approach are included (Jean-Francois, 2004). In stakeholder approach, centre of attention is the ability of a business to meet the needs and expectations of its stakeholders (Daft, 1995).Competing values approach expands the range of other approaches.By using competing values approach, four other models are developed in which rational goal; internal process, open system and human relations are included (Quinn and Rohrbaugh, 1983). Performance of an organization can be evaluated by focusing on problems and retarding factors that inhibit the performance of organizations (Camaron, 1984). Out of the above mentioned approaches, goal approach is the superlative approach to evaluate the performance due to its straightforwardness (Pfeffer and Salancik 1978). Most trendy approach of performance evaluation ofSME's is balanced scorecard approach. Balanced scorecard has four dimensions in which financial growth, quality, customers and learning growth is built-in (Kaplan and Norton, 1992).Balance scorecard actually focuses on maintaining symmetry between monetary and non monetary measures (Neely et al. 1996).Book-tax differences, on average, are systematically related to earnings growth, future stock returns, and earnings persistence (Hanlon, 2005) and among other implications, book-tax differences are useful measures in evaluating firm performance. Consistent with these studies, Shevlin (2002) and Hanlon, Laplante, and Shevlin (2005) find that while book income explains a firm's annual stock returns better than estimated taxable income, estimated taxable income, on average, has incremental explanatory power for book income. However , there is little evidence regarding taxable income as an alternative performance measure and, in particular, cross-sectional differences in firms that mitigates or enhances the ability of taxable income to inform investors regarding firm performance (Lev and Nissim, 2004).Some SME's compare their performance with that of other SME's. They evaluate their performance by means of comparative analysis. Performance can also be evaluated by means of ineffectiveness approach. In ineffectiveness approach, focus is on the factors that hampers the feat of organizations. Therefore this study seeks to investigate the extent to which Tax Planning influences Financial Performance of Small Enterprises in Embu town CBDTax PlanningThe implementation situation of SME income tax planning is distorted tax planning, that is to say, on the one hand, more and more SME pay tax in accordance with the law, and on the other hand, because of the role of the interest mechanism and other various reasons, more and more SME tax-related cases appear (Karing and Wanjala, 2005). According to the survey, the vast majorities SME have not yet started or are considering carrying out tax planning, which can not fight for the legitimate tax interests and ruin financial interests leading to a large number of emerging additionaltax burden (Fjeldstad and Rakne, 2003). In addition, SME tax planning is treated unreasonable. Due to the limitations of the concept, SME tax planning activities often encounter misunderstanding, punishment and censor from some basic taxation law enforcement agencies (Karing and Wanjala, 2005).Tax law is said to be barely connected with the universe and with universal law as we understand it. However, tax law is founded not only on principles but also on practicality. There is no element of perpetuity about tax law, only the constant clash of the immediate and semi permanent (Kibua and Nziok, 2004). A State cannot run a democracy well without taxation and a taxation system cannot be run well without democracy. Oliver Wendell Holmes has said on one occasion, "Taxes are what we pay for civilized society" (Neely et al. 1996).Statement of the ProblemTax reform today has been moving towards considering new legislation, such as whole new taxes or reliefs, rather than patching of existing taxes by either increasing or decreasing the amount of taxation. This breaks down into the fact that there are ongoing considerations of widening the tax base. Kenya is no exception to this and there are ongoing considerations into taxing the informal or "jua kali' sector including the taxation of the "mitumba', the second hand clothing industry as well as the taxation of all informal tax payers of small amounts.A question that appears to generate surprisingly little debate in Kenya is the scope for legally mitigating taxes payable by individuals and corporate entities. Tax planning is bound to gain increasing significance with the ever greater aggressiveness and sophistication of the Kenya Revenue Authority and other tax collecting bodies. The trend of increased aggressiveness and sophistication in tools and methods is occurring against a backdrop of a public policy of domestic sources being the primary sources of revenues for budgetary purposes. This results in governmental pressure on tax collecting agencies to improve their revenue collection performance. The result of this trend is the more stringent enforcement of taxation laws. The past and presentpractice by many of outright evasion is, and likely will continue to be, fraught with risk.Examining the relation between the new economy business model, tax avoidance and investments in tax planning is important as previous Studies in the tax avoidance literature generally examine how specific firm attributes are related to tax avoidance independently, rather than investigating how firms' overall business models facilitate or hinder effective tax planning (Frank, Lynch, and Rego 2009). Hanlon and Heitzman (2010) argue that despite the much literature, these do not explain the variation in tax avoidance very well. Therefore due to this and such seemingly inexorable trends, the question of tax mitigation by legitimate avoidance naturally occurs. This study intends to find out the influence of small Enterprises tax planning within the current legal environment so as so minimize their tax burden. ConclusionDue to the corruption levels, low business growth, and management of public finances in the economy, where there is a great extent of corruption, has a related to a high level of tax evasion and the study concluded that there was no relationship between tax planning in investment in capital asset and performance of small enterprises in Embu CBD. The study concludes no significant relationship. The study concludes also that no significant relationship exists between tax planning through advertisement expenditure and performance of small enterprises in Embu CBD and also concluded there was no significant relationship the Legal Forms of enterprise tax planning and performance of small enterprises in Embu CBD. RecommendationsThe tax authorities should address the lack of formal tax planning as this may be a way of evading taxation in the name of tax avoidance. The small scale enterprises should also be ready to open up to advice on tax planning to make savings lather than playing a hide and seek game with tax authorities. Further to this, the study recommends that there is need to have NGOs to sensitize the respondents as to theneed to do formal tax planning as it could increase their Business profitability Implications on Policy Theory and PracticeThis study though confined to investigate the influence of tax planning on financial performance of small scale enterprises has established that little tax planning take place among the small enterprises and therefore tax Authorities and the chamber of commerce should write a position paper to address the awareness and use of tax planning by small scale enterprises. This would improve the growth rate of the small enterprises and there after the growth of the economy.译文肯尼亚小规模企业的纳税筹划与财务业绩保罗，萨洛姆，努尔摘要为了确保活动的效率和有效性，适用性法律的可靠性与遵从性，小规模企业需要有足够的税收管制。
税收筹划机制研究_参考文献
主要参考文献英文部分：[1] Arthur K., W.Ira. Tax planning by mutual funds[Z]. working paper, Graduate school ofUniversity of Chicago,1998 ,(7).[2] Ashworth,J , B.Heyndels. Politicians’ preferences on local tax rates: An empirical analysis[J].European Journal of Political Economy, 1997, 9 (3):503-516.[3] Bauman,C., M. Schadewald. Impact of foreign operations on reported effective tax rates:Interplay of foreign taxes, U.S.taxes and U.S.GAAP[J]. Journal of International Accounting，2001,2 (10):177-196.[4] Benno T. Speaking to theorists and searching for facts: Tax morale and tax compliance inexperiments[J]. Journal of Economic Surveys,2002 ,16:657-683.[5] Carla C., J.K. Kenneth. E-commerce and international tax planning[Z].workingpaper ,University of Waterloo,Waterloo,Canada,2004,(6).[6] Chittenden,W.T. , S.E.Hein. Tax rate changes and the long-run equilibrium relationshipbetween taxable and tax-exempt interest rates[J]. Journal of Economics and BusinessVolume:51, Issue:4,1999, (7):326-327.[7] Claus T.H. Lower tax progression, longer hours and higher wages[J]. Scandinavian Journal ofEconomics,1999,101:49-65.[8] Coase. R.H. The nature of the firm[J]. Economic，New Series，1937,11:386-405.[9] David A.G, L.M.Edward , E.N.Sarah. Financial reporting, tax costs, and book-taxconformity[J]. Journal of Accounting and Economics , 1997,23: 225-248.[10] David B., D. Hryck, R. Rothman ,Strategies for foreign persons to reduce U.S. taxes throughthe use of REITs[J]. Taxes, 2006, 84:11-16.[11] David M. N, G. Santos. Road taxes, road user charges and earmarking[J]. FiscalStudies,1999 ,20:103-132.[12] David M.S. Sticks and snakes: Derivatives and curtailing aggressive tax planning[Z]. workingpaper , Columbia University school of law,NewYok,2000, (7).[13] David M.S. Frictions as a constraint on tax planning[Z]. working paper , Columbia Universityschool of law,NewYok,2001, (2).[14] Douglas A.S., S.Terry. Empirical tax research in accounting[J]. Journal of Accounting andEconomics, 2001,31: 321-387.[15] Eamon M. N. Tax planning[J]. Financial Management,2006, (7) :33-34.[16] Edward L.M. Empirical tax research in accounting:A discussion[J].Journal of Accounting andEconomics, 2001,31:389-403.114[17] Fischer C.,M.Rupert,J.Timothy, M.L.Wartick. Tax policy and planning implications of hiddentaxes:Effective marginal tax rate exercises[J]. Journal of Accounting Education，2001,19(1):64-74.[18] Georgia K., D. M. Newbery. Redistributive impact of indirect tax reforms: Greece,1988-2002[J].Fiscal Studies,2004,25:225-247.[19] Hamish A., S. Cahan, L. C. Rose. Stock dividend announcement effects in an imputation taxenvironment[J]. Journal of Business Finance and Accounting,2001, 28:653-669.[20] Horacio L., M..M.Prats. Simplifying the personal income tax system: lessons from the 1998Spanish reform[J]. Fiscal Studies, 2002 ,23:419-443.[21] Hussein A. W. Ｔax planning and financial reporting costs: A study of the Canadian markedfor redeemable preferred shares[D]. Ph.D. dissertation, the University of Calgary, Calgary, Alberta,1995.[22] IBFD.International Tax Glossary[M].Amsterdam:IBFD Publications,2001:92.[23] Jack M., S.Michael. Income shifting,investment,and tax competition:theory and evidencefrom provincial taxation in Canada[J].Journal of public economics,2004,88:1149-1168. [24] John C., N. Gemmell, The income elasticity of tax revenue: estimates for income andconsumption taxes in the United Kingdom[J].Fiscal Studies, 2004, 25:55-77.[25] John D. P.J.. Corporate tax planning effectiveness : The role of incentives[D]. Ph.D.dissertation, The University of Iowa , Iowa city , Iowa , 1999.[26] John R.M.H., R.S.Terrance .Tax planning in initial public offerings: The case of equitycarve-outs[Z]. working paper , Kenan-Flagler Business School, Chapel Hill,1999 (4). [27] John T.C..Optimal annual contributions to flexible spending accounts: A rule-of-thumb[J].E-conomics letter s,1999,62:59-61.[28] Jonathan R. K., C. M. Anderson. Marginal property tax effects of conservation easements: Avermont case study[J]. American Journal of Agricultural Economics, 2004, 86:919-932. [29] Kathryn D. J. Problem structuring in tax planning: An experimental investigation of thedeferminants of tax professionals’ cognitive processes and problem-structuringperformance[D]. Ph.D. dissertation , the University of Memphis , 1998.[30] Kenneth J. K.. Belgium enhances its international tax attractiveness[J]. Tax ManagementInternational Journal, 2006, 9:461-462.[31] Kenneth J.K.,A.S.Douglas. State and provincial corporate tax planning: Income shifting andsales apportionment factor management[J]. Journal of Accounting andEconomics,1998,25:385-406.[32] Maja C. Compliance costs for personal income tax in a transition country:The case ofSlovenia[J]. Fiscal Studies, 2004,25:93-104.[33] Mark A. L.. Patenting tax strategies[J]. Taxes, 2006,84:3-4.115[34] Michael C.J., H.M.William. Theory of the firm:Managerial behavior, agency costs andownership structure[J]. Journal of Financial Economics , 1976, (3):305-360.[35] Michael J.C. The effect of tax accounting rules on capital structure and discretionaryaccruals[J]. Journal of Accounting and Economics , 2000,30: 1-31.[36] Mike D. The impact of personal taxes on the firm's weighted average cost of capital andinvestment behavior: A simplified approach using the dempsey discounted dividendsmodel[J]. Journal of Business Finance & Accounting,1998,25:747-763.[37] Peter G. W. Welfare effects of an export tax: Thailand's rice premium[J]. American Journalof Agricultural Economics, 2001,83:903-920.[38] Sanjay G., F.M.Lillian. Multistate tax planning: Benefits of multiple jurisdiction and taxplanning assistance[Z]. working paper ,University of Arizona,2000,(6).[39] Sanjay G., F.M.Lillian. Corporate multistate tax planning: Benefits of multiple jurisdiction [J].Journal of Accounting and Economics,2002,33:117-139.[40] Scholes M.S., M.A.Wolfon, M.Erickson, E.L.Maydew and T.Shevlin.Taxes and businessstrategy: A planning Approach[M].New Jersey : Prentice Hall,2002.[41] Seraphim A. A decade of council tax inequities? Geographical perspectives and a researchagenda[J]. Area,2004,36:41-49.[42] Stephen R.,Planning tax faces further fire[J]. The Estates Gazette. Sutton, 2006,(9):38.[43] Tahira K. H., C. Loibl. A gender perspective on the use of supplemental healthcare plans[J].International Journal of Consumer Studies, 2005,29:319-331.[44] Thomas R. C., P. Beramend.Taxing work[J]. European Journal of Political Research,2006,45:43-73.[45] Tom C., A. Leicester. Inequality and two decades of British tax and benefit reforms[J].Fiscal Studies, 2004 ,25:129-158.[46] William F.Y., S.C.Karen. A Framework for international tax planning for managers[J].Journal of International Accounting,1998,7(2): 251-272.中文部分：[47] 阿马蒂亚·森著，王宇、王文玉译．伦理学与经济学[M]．北京：商务印书馆，2000．[48] 艾 华．税收筹划研究[M]．武汉：武汉大学出版社，2006．[49] 埃里克·弗鲁博顿、鲁道夫·芮切特著，姜建强、罗长远译．新制度经济学——一个交易费用分析范式[Ｍ]．上海：上海三联书店、上海人民出版社，2006．[50] 安沙·沙赫著，匡小平等译．促进投资与创新的财政激励[M]．北京：经济科学出版社，2000．[51] 伯纳德·萨拉尼著，陈新平、王瑞泽、陈宝明、周宗华译．税收经济学[M]．北京：中国人民大学出版社，2005．[52] 蔡昌．税收筹划八大规律[M]．北京：中国财政经济出版社，2005．116[53] 蔡昌、李梦娟．宏观视野下的税收筹划[J]．税务纵横，2003，（8）：21-22．[54] 陈爱玲．浅谈我国企业纳税筹划问题[J]．西安财经学院学报，2004，（6）：70-73．[55] 陈炳瑞、罗淑琴．企业税收筹划的原则、方法及运用[J]．财贸经济，1994，（5）：24-26．[56] 陈发芝．关于税收筹划的理论选择[J]．理论探索，2005，（5）：102-103．[57] 陈琼．纳税筹划风险的理性思考[J]．财会研究，2005，（7）：15-16．[58] 陈晓燕．企业财务管理中的税收筹划[J]．审计理论与实践，2003，（6）：73-74．[59] 程承坪．企业理论新论——兼论国有企业改革[M]．北京：人民出版社，2004．[60] 池国华．内部管理业绩评价系统设计研究[M]．大连：东北财经大学出版社，2005．[61] 储安全．企业不同发展阶段的税收筹划[J]．资本与财务，2004，（2）：61-63．[62] 戴佳君．企业战略纳税筹划研究[D]．湖南大学硕士论文，2003．[63] 邓力平．不对称信息和税收理论研究回顾与展望[J]．税务研究，2003，（5）：38-42．[64] 邓永勤．税收征纳模式的博弈分析[J]．涉外税务，2003，（5）：12-16．[65] 董茹．税收筹划与会计政策的选择[J]．辽宁财专学报，2002，（2）：32-33．[66] 董再平．对税收筹划的几点看法[J]．税务研究，2005，（7）：85-86．[67] 范宝学．关于企业税收筹划的探讨[J]．中国财政，2003，（3）：35-36．[68] 方卫平．税收筹划[M]．上海：上海财经大学出版社，2001．[69] 方竹兰．论转轨阶段的不可交易成本[J]．学术月刊，2003，（10）：39-43．[70] 盖地．企业纳税筹划理论与实务[M]．大连：东北财经大学出版社，2005．[71] 盖地．税务筹划与纳税筹划[M]．天津：南开大学出版社，2004．[72] 高静娟．企业改革与税收筹划[J]．中国工业经济，1996，（8）：68-70．[73] 高培勇．公共经济学[M]．北京：中国人民大学出版社，2003．[74] 管理年．运用交易成本理论分析我国国有企业的性质——兼论非生产性资产的剥离[J]．经济问题，1995，（9）：15-17．[75] 国家税务总局办公厅．中国税收理论与实践[M]．北京：中国税务出版社，2003．[76] 贺 晋、熊彩虹．企业税收筹划的战略管理[J]．中外科技信息，2003，（11-12）：62-63．[77] 胡文君．边际分析法在税收筹划中的运用[J]．西南民族大学学报，2005，（2）：109-111．[78] 胡悦．税收筹划在中国的必要性和可行性分析[J]．立信会计高等专科学校学报，2003，（9）：37-40．[79] 黄董良．企业税收筹划的目标定位与风险问题探讨[J]．税务研究，2004，（3）：66-68．[80] 黄凤羽．企业理财中的税收筹划[J]．四川会计，1999，（7）：28-30．[81] 黄海滨．企业财务管理过程中的税收筹划策略[J]．商业研究，2004，（4）：28-30．[82] 黄黎明．税收筹划及其法律问题研究[J]．江西财经大学学报，2003，（4）：60-63．[83] 黄黎明．税收筹划理论的最新发展——有效税收筹划理论[J]．涉外税务，2004，（2）：11769-72．[84] 黄少安．“交易费用”范畴研究[J]．学术月刊，1995，（11）：38-44．[85] 黄文锋、连建辉．对交易费用理论几个观点的反正[J]．湖北经济学院学报，2003，（11）：11-15．[86] 黄仰玲．从新的视角审视现代企业税收筹划[J]．江苏商论，2004，（1）：100-101．[87] 姜雅净．关于税收筹划理论与实践的可行性研究[J]．商业研究，2004，（11）：61-63．[88] 金一星．税收管理的经济学分析——管理性税收缺口的成因及对策初探[D]．东北财经大学硕士论文，1999．[89] 科斯、哈特、斯蒂格利茨等著，李风圣主译．契约经济学[M]．北京：经济科学出版社，1999．[90] 孔详玲．我国企业税收筹划的现状分析及发展对策[J]．山东行政学院、山东省经济管理干部学院学报，2004，（11）：93-94．[91] 李伯圣．税收筹划：中国企业理财的新课题[J]．扬州大学税务学院学报，1996，（4）：6-9．[92] 李大明．论税收筹划的原理及其运用[J]．中南财经政法大学学报，2002，（6）：50-54．[93] 李大明．论税收筹划的税收理论依据[J]．税收研究，2003，（5）：43-45．[94] 李辉、朱洪泽．税收筹划与避税对宏观经济的影响[J]．税务与经济，2000，（1）：32-34．[95] 李嘉明、张晓美．非对称信息对称条件下企业税收筹划的博弈分析[J]．税务与经济，2004，（1）：62-65．[96] 李 剑．企业税收筹划研究[D]．厦门大学硕士论文，1999．[97] 李爽．公司购并中的税收筹划[J]．上海会计，2002，（11）：40-41．[98] 李香菊．我国税权横向治理机制研究[J]．财政研究，2003，（5）：45-46．[99] 李心合．利益相关者财务论——新制度主义与财务学的互动和发展[M]．北京：中国财政经济出版社，2003．[100] 李银珠．企业实施税收筹划战略的理论与实证分析[J]．江西金融职工大学学报，2005，（3）：45-47．[101] 李友元．税收经济学[M]．北京：光明日报出版社，2003．[102] 李珍萍．税收筹划的风险及防范[J]．湖南税务高等专科学校学报，2005，（3）：3-5．[103] 梁杰、史淑芹、邓海燕．浅议税收会计、纳税会计与税务会计[J]．商业研究，2003，（1）：49-51．[104] 梁 朋．中国新一轮财税体制改革：目标与路径[M]．北京：经济科学出版社，2004．[105] 梁秋明、吴光洁．筹资活动的税收筹划[J]．商业经济，2006，（7）：63-64．[106] 林佩臣、秦哲峰、路景湘．简析现代企业集团的税收筹划策略[J]．冶金财会，2002，118（12）：31-32．[107] 林艳琴、丁清光．国际税务筹划的理论依据和我国跨国经营企业的现实对策[J]．财会通讯，2004，（9）：37-40．[108] 刘昌起．税收筹划与企业税负研究[J]．中州大学学报，2002，（10）：9-10．[109] 刘殿庆．浅议税收筹划的会计方法[J]．财税与会计，1996，（6）：38-40．[110] 刘耕．我国企业跨国经营的税收筹划分析[J]．财贸研究，2002，（2）：79-82．[111] 刘寒波．制止逃税行为的经济分析[J]．中央财经大学学报，1998，（11）：30-34．[112] 刘寒波、钟荣华．基于博弈分析的纳税诚信思考[J]．财经理论与实践，2004，（3）：94-97．[113] 刘慧芳．信息不对称理论与税收征管[D]．东北财经大学硕士论文，2004．[114] 刘建民、杨鸣．试谈对现有纳税筹划理论研究几个问题的思考[J]．企业家天地，2005，（4）：6-7．[115] 刘建青、邓家姝．论市场经济下的税收筹划[J]．当代财经，1997，（10）：32-35．[116] 刘 军．信息不对称理论与税收征管改革[J]．涉外税务，1997，（10）：46-48．[117] 刘普照．宏观税负与经济增长相关性研究[M]．北京：经济科学出版社，2004．[118] 刘蓉．企业战略管理与税收策略研究[M]．北京：中国经济出版社，2005．[119] 刘 涛、孟卫东．企业税收筹划的组合效应分析[J]．重庆大学学报，2004，（3）：160-163．[120] 刘旭东．关于我国开展税收筹划的理论思考[J]．理论前沿，2004，（5）：33-34．[121] 刘颖．企业并购税收筹划[J]．税务纵横，2003，（6）：26-27．[122] 刘 佐．中国税制[M]．北京：知识产权出版社，2004．[123] 卢强．企业税收筹划研究[D]．天津财经大学博士论文，2004．[124] 卢现祥．西方新制度经济学[M]．北京：中国发展出版社，2003．[125] 鹿美遥．有效税收筹划框架的概述及其启示[J]．西南政法大学学报，2005，（10）：95-99．[126] 罗玲凤．企业经营活动中的税收筹划问题[J]．福建农林大学学报，2004，（7）：58-60．[127] 罗美琴．我国企业税收筹划存在的问题及对策研究[J]．四川大学硕士论文，2005．[128] 罗秦．论企业税收筹划的绩效评估[J]．立信会计高等专科学校学报，2003，（3）：45-46．[129] 罗真．企业税收筹划的几个问题[J]．广西会计，2003，（2）：15-16．[130] 吕建锁．税收筹划的涉税风险与规避新探[J]．山西大学学报（哲学社会科学版），2005，（3）：46-49．[131] 吕 焱、冯旭日．论税收筹划在企业财务管理中的运用[J]．辽宁工程技术大学学报，2004，（5）：278-280．[132] 马国强．转轨时期的税收理论研究[M]．大连：东北财经大学出版社，2004．119[133] 马奎明、张浩．企业税收筹划的艺术[J]．企业经济，1995，（6）：19-21．[134] 马奎明、张浩．浅谈企业财务管理中的税收筹划[J]．财会研究，1995，（8）：14-15．[135] 马拴友．税收政策与经济增长[M]．北京：中国城市出版社，2001．[136] 迈克尔·迪屈奇著，王铁生、葛立成译．交易成本经济学－—关于公司的新的经济意义[M]．北京：经济科学出版社，1999．[137] 潘雷池．我国税收征管方式的博弈分析[J]．中央财经大学学报，2006，（1）：24-28．[138] 彭晓芳．正确认识和推进税收筹划及事前裁定制度[J]．广东审计，2003，（11）：30-31．[139] 彭志华、罗才荣．浅议企业集团税收筹划[J]．税收科技，2002，（9）：51-52．[140] 祁 杰．略谈税收筹划及其运用[J]．财会月刊，2003，（B2）：45-46．[141] 屈锡华、杨继瑞、李晓涛．税收征纳博弈及其行为解析[J]．经济学家，2003，（3）：82-90．[142] 曲晓辉、杨金忠．跨国集团公司转让定价策略的实证分析[J]．国际贸易问题，1999，（6）：16-22．[143] 曲晓辉．跨国投资财务决策的税务筹划[J]．财务与会计，2003，（3）：16-18．[144] 曲晓辉．论长期股权投资财务决策的税务问题[J]．税务与经济，2006，（1）：2-6．[145] 全贤唐、张健．经济博弈分析[M]．北京：机械工业出版社，2003．[146] 沈肇章．税收筹划对信息的要求[J]．上海会计，2002，（5）：41-42．[147] 思拉恩·埃格特森著，吴经邦等译．经济行为与制度[M]．北京：商务印书馆，2004．[148] 史文娟、张子荣．论财务管理中的税收筹划策略[J]．科技创业月刊，2004，（11）：19-20．[149] 宋红霞．税收筹划与税收政策[J]．税收科技，2003，（10）：55-56．[150] 宋霞．对我国税收筹划发展问题的思考[J]．江苏商论，2004，（8）：152-153．[151] 宋献中、沈肇章．税收筹划与企业财务管理[M]．广州：暨南大学出版社，2002．[152] 宋效中．反偷逃税与税务稽查[M]．北京：机械工作出版社，2006．[153] 孙永详．公司治理结构：理论与实证研究[M]．上海：上海三联合书店、上海人民出版社，2002．[154] 谈多娇．税收筹划的经济效益研究[M]．北京：中国财政经济出版社，2004．[155] 谈多娇、王韬．我国企业进行税收筹划的可行性分析[J]．经济纵横，2001，（9）：47-49．[156] 唐腾翔、唐 向．税收筹划[M]．北京：中国财政经济出版社，1994．[157] 陶其高．从法理上对税收负担最小化手段的再界定——税收筹划的内涵和外延[J]．浙江师范大学学报（社会科学版），2001，（5）：99-102．[158] 田详宇．亦论企业税收筹划[J]．会计之友，2003，（9）：33-34．[159] 王传纶、高培勇．当代西方财政经济理论（上、下册）[M]．北京：商务印书馆，2002．120[160] 王春玲．税收筹划的成本与效益[J]．税务研究，2004，（12）：68-69．[161] 王国华、张美中．税收筹划理论与实务[M]．北京：中国税务出版社，2004．[162] 王禾．对我国税收筹划的思考[J]．税务与经济，2000，（1）：29-31．[163] 王静、李铁军．企业集团税收筹划分析[J]．财会月刊，2003，（B9）：17-18．[164] 王锐．税收不遵从的识别研究[D]．浙江大学博士论文，2003．[165] 王晓东、蔡昌．企业融资管理中的税收筹划[J]．财政与税务，2006，（1）：278．[166] 王晓灿．企业税收筹划：理论分析与策略研究，天津财经学院硕士论文，2004．[167] 王钰．关于税收筹划的策略探讨[J]．财会与审计，2004，（4）：51-52．[168] 王兆高．浅谈税收筹划的现实意义[J]．企业经济，2004，（2）：16-17．[169] 王珍．企业财务管理过程中的税收筹划研究[J]．企业经济，2004，（3）：181-183．[170] 王珍义．税收筹划的风险及其防范[J]．经济问题，2004，（1）：71-73．[171] 威廉姆森著，段毅才、王伟译．资本主义经济制度[M]．北京：商务印书馆，2002．[172] 夏杰长．经济发展与财税政策[M]．北京：中国城市出版社，2002．[173] 夏卫兵．试论企业财务管理中的税收筹划方法[J]．江苏商论，2003，（10）：101-102．[174] 肖振东．浅谈国家财政审计与税收筹划[J]．中国审计，2004，（12）：57-58．[175] 谢贵荣．公司税收筹划方法选择[J]．首都经济贸易大学学报，2001，（5）：50-53．[176] 徐茂中．关于税收筹划的若干思考[J]．经济经纬，2003，（2）：74-76．[177] 徐四伟、黄黎明．企业税收筹划业绩评价体系初探[J]．涉外税务，2005，（5）：71-74．[178] 徐向真、谭章禄．论公司投融资活动中的税收筹划[J]．东岳论丛，2006，（1）：204-205．[179] 徐咏梅．企业税收筹划的理论探讨及应用[J]．市场经济研究，2003，（6）：62-63．[180] 许 文．税收管理理论与实践[D]．财政部科研所博士论文，2003．[181] 许艳芳．企业收益分配研究—从剩余索取权的角度出发[M]．北京：中国财政经济出版社，2004．[182] 许云霄．公共选择理论[M]．北京：北京大学出版社，2006．[183] 杨 绮．企业纳税筹划若干问题的运筹学研究[D]．厦门大学博士论文，2006．[184] 杨之刚．公共财政学：理论与实践[M]．上海：上海人民出版社，1999．[185] 姚 刚．企业税收筹划全程透视[J]．湖南财经高等专科学校学报，2002，（6）：81-84．[186] 於鼎丞．税收制度与经济发展[M]．北京：经济科学出版社，2005．[187] 于海峰．中国现行税制税收运行成本分析[M]．北京：中国财政经济出版社，2003．[188] 于洪．中国税负归宿研究[M]．上海：上海财经大学出版社，2004．[189] 郁雄．逃税与治税的经济分析及在中国的实证分析[D]．浙江大学博士论文，1999．[190] 袁庆明．新制度经济学[M]．北京：中国发展出版社，2005．[191] 约翰·克劳奈维根著，朱舟、黄瑞虹译．交易成本经济学及其超越[M]．上海：上海121财经大学出版社，2002．[192] 岳树民．税收宏观调控的博弈分析[J]．吉林财专学报，1996，（2）：46-49．[193] 岳树民．中国税制优化的理论分析[M]．北京：中国人民大学出版社，2003．[194] 曾江洪．略析企业税收筹划的特点与方法[J]．财会月刊，2003，（B10）：20-21．[195] 张 斌．博弈论在税收筹划中的运用[J]．商业经济，2004，（12）：56-58．[196] 张健、王伟．试论税收筹划与事前裁定制度[J]．财税理论与实践，1997，（3）：28-31．[197] 张启振、张阿芳．企业投资决策中税收筹划研究[J]．财政金融，2000，（7）：20-21．[198] 张荣荣、张燕．基于契约理论的企业投资有效纳税筹划[J]．税收与经济，2006，（4）：96-98．[199] 张守文．论税收法定主义[J]．法学研究，第18卷第6期：57-65．[200] 张姝菲．如何正确面对企业税收筹划[J]．涉外税务，2001，（1）：64-66．[201] 张婷．谈企业财务决策中税收筹划的运用[J]．山西财税，2005，（4）：34-35．[202] 张维迎．企业的企业家－契约理论[M]．上海：上海三联书店、上海人民出版社，1995．[203] 张维迎．企业理论与中国企业改革[M]．北京：北京大学出版社，1999．[204] 张文贤、文桂江．关于税收筹划误区的实证分析[J]．上海会计，2002，（5）：9-11．[205] 张五常．经济解释[M]．北京：商务印书馆，2000．[206] 张 霞．纳税筹划在投资中的运用[J]．会计之友，2005，（3）：27-28．[207] 张新立．非对称信息条件下的税收管理博弈分析[J]．运筹与管理，2003，（6）：23-26．[208] 张秀莲．当前税收筹划中应当正确认识的几个问题[J]．税务与经济，2002，（6）：25-27．[209] 张雁翎、申爱涛．不确定条件下税收筹划的非税成本研究[J]．税务研究，2005，（4）：78-82．[210] 张银政．企业税收筹划简论[J]．山西财经学院学报，1997，（4）：48-51．[211] 张英明、吴冬梅．对纳税筹划问题的理性思考[J]．经济与管理，2005，（5）：95-98．[212] 张中秀．新编避税与反避税实务全书[M]．北京：中国经济出版社，1995．[213] 张中秀、汪昊．税收筹划宝典[M]．北京：机械工业出版社，2004．[214] 赵贺春．企业税收筹划的研究[J]．会计之友，2003，（4）：30-31．[215] 赵 昆．合理避税的界限和策略[J]．涉外税务，2004，（6）：137．[216] 赵普庆．筹资、融资、经营管理活动中的纳税筹划[J]．商业会计，2005，（8A）：16-17．[217] 钟亚华、张子林．企业税收筹划问题的探索[J]．工业技术经济，2003，（6）：138-139．[218] 周华洋．纳税筹划技巧与避税案例[M]．北京：中华工商联合出版社，2002．[219] 周 清．亏损弥补政策中的税收筹划[J]．广东经济管理学院学报，2004，（6）：54-57．[220] 周夏飞．论税收筹划的形成机制及实现手段[J]．浙江大学学报，2001，（9）：140-144．[221] 周宪昌．税收筹划及其风险[J]．税收科技，2003，（12）：51-52．122[222] 周 叶．论非对称信息条件下税收征管的激励机制[J]．税务研究，2002，（7）：30-33．[223] 朱承斌．税收优惠的经济分析[Ｍ]．北京：经济科学出版社，2005．[224] 朱会芳、杨增凡．税收征纳的博弈分析[J]．商场现代化，2004，（10）：73-74．[225] 朱洪仁．国际税收筹划[M]．上海：上海财经大学出版社，2000．[226] 朱敏．美国跨国公司的税收筹划[J]．涉外税务，1994，（11）：27-29．[227] 朱 青、汤坚、宋兴义．企业转让定价税务管理操作实务[M]．北京：中国税务出版社，2003．[228] 朱青．国际税收[M]．北京：中国人民大学出版社，2004．[229] 朱晓波．税收行政管理——目标模式的确立及相关要件选择[M]．大连：东北财经大学出版社，2004．[230] 朱颖俊．论我国企业开展税收筹划的必要性和可行性[J]．华中理工大学学报（社会科学版），1997，（4）：69-72．[231] 朱泽厚．税收对跨国公司的调控研究[D]．中央财经大学博士论文，2003．[232] 庄粉荣．投资活动与税收策划[M]．成都：西南财经大学出版社，2003．123税收筹划机制研究致谢不知不觉中，三年的求学生涯就要过去了，对于一个财务工作者来说，能在母校厦门大学攻读会计学博士学位，无疑是万分的荣幸！在此由衷地感谢母校厦门大学！母校博大精深，哺育了我，教给我的不仅仅是书本知识，还让我学会许多做人的品质。
企业税收筹划中英文对照外文翻译文献
中英文对照外文翻译文献(文档含英文原文和中文翻译)1、Enterprises of the major means of tax planningTax planning is the premise of strict enforcement of tax laws to minimize tax, customs tax called. Enterprises to carry out the correct tax, the need for the adoption of the following major route of transmission.First, reasonable means of financing options. In accordance with the provisions of China's current tax law, corporate interest payments on the loan within a certain range can be pre-tax expenses, and dividends can only be spending the after-tax profits of enterprise expenses. From a tax point of view, appropriate to the bank business loans and financing between enterprises, rather than directly to thefund-raising benefits.Second, a reasonable choice of trading partners. China's existing value-added tax system has a general taxpayers and small-scale taxpayers on the points, choose a different supplier object, the tax burden on enterprises is not the same. For example, when the Department of suppliers of value-added tax general taxpayer, the businessafter the purchase of goods, according to the amount of tax deduction of input tax amount of the corresponding balance after payment of value-added tax; if the purchase of goods for small-scale taxpayers, VAT can not be achieved Its not contain the amount of input tax deduction, the tax burden more than the former. Such as open invoices can also be part of deduction.Third, "the easy way out" tax conversion. Enterprises will be converted tohigh-tax low-tax, refers to economic activities in the same, there are a variety of revenue options to choose from, the taxpayers to avoid "high-tax point", choose the "low tax" and reduce the tax liability . The most typical example of this is to runnon-taxable to the tax planning services. From the tax point of view, run mainly two: First, the same taxes, different tax rates. Systems such as supply and marketing enterprises, the general operating tax rate is 17% of the means of subsistence, but also the operating value-added tax rate of 13% of the agricultural means of production and so on. Second, different taxes, different tax rates. This usually refers to types of enterprises in their business activities, both value-added business project, the project also involves the business tax.Fourth, the cost of reasonable expenses. Enterprises does not violate tax laws and financial system under the premise of the full cost of the reasonable expenses, that may occur on the full estimated losses and narrow the tax base and reduce the amount of taxable income. Countries allow for costs incurred in the projects, such as wages, respectively, the total amount of tax by 2%, 14%, 1.5% extracts of trade union funds, staff welfare, staff education funding should be sufficient to mention as much as possible to the whole. For some of the losses that may occur, such as bad debt losses, businesses should be fully expected in the tax law as far as possible the extent permitted by the cap enough to reserve. This is in line with the national tax law and financial system, can receive the tax effect.Fifth, to reduce tax liability. Factors that affect the tax liability there are two, namely, tax base and tax rates, the smaller the tax base, lower tax rates, tax liability is also smaller. Tax planning can start from these two factors to find legitimate ways to reduce tax liability. For example, an enterprise December 30, 2005 estimated taxableincome amounted to 100,200 yuan, the enterprise income tax liability 25050 yuan (100200 ×25%). If the corporate tax planning, tax consulting fees to pay 200 yuan, the corporate taxable income 100,000 (100200-200), income tax liability 27,000 yuan (100000 × 27%), can be found by comparing, for tax planning to pay only 200 yuan, 6066 yuan tax is (33066-27000).Sixth, to weigh the severity of the overall tax burden. For example, manyvalue-added tax planning programs have the general taxpayer and the taxpayer to choose small-scale planning. If an enterprise is a non-tax-year sales of about 900,000 yuan of production enterprises and enterprises to buy the materials each year the price of non-value-added tax of 70 million or less. The company's accounting system, the conditions identified as the general taxpayers. If that is the general taxpayer, the company's products are value-added tax rate applies to 17% capital gains tax liability 34,000 yuan (90 × 17% -70 × 17%); If it is small-scale taxpayers, the rate is 6%, 5.4 VAT liability million (90 × 6%)> 3.4 million. Therefore, from the perspective of value-added tax general taxpayer should be selected. But, in fact, althoughsmall-scale VAT taxpayers pay 20,000 yuan, but the input tax amount of 119,000 yuan (70 × 17%), although it can not offset the costs, thereby increasing the cost of 119,000 yuan, the income tax reduction of 2.975 million (11.9 × 25%), than pay a 20,000 yuan of value-added tax. Therefore, the business tax planning in the selection of programs, not only to look in a certain period of time watching the program on tax less, and to consider business development goals, to choose to increase their overall revenue program.Seventh, take full advantage of preferential taxation policies. For taxpayers, the use of tax incentives for tax planning focuses on how the rational use of tax policies and regulations shall apply to the lower or more favorable tax rates, a well-planned production and operation activities, the actual tax burden to a minimum in order to achieve Festival tax effect. For example, according to China's Law of the State Council for approval of high-tech industrial development zone of the high-tech enterprises, since the production from the fiscal year income tax exemption for 2 years. To-business use of wastewater, waste gas, waste residue and other waste as themain raw materials for production, 5 years in the income tax reduction or exemption. In addition, to support agriculture and the development of UNESCO Wei investment, countries have different tax incentives. Business operators should refer to policy, comparing the investment environment, investment income, investment risks and other factors, decided to invest in the region, investment direction, as well as investment projects, a reasonable tax planning, in order to reduce the corporate tax burden.企业税收筹划的主要途径纳税筹划是在严格执行税法前提下，尽量减少缴税，习惯称其为节税。
《企业并购中的税务筹划研究国内外文献综述2000字》
企业并购中的税务筹划研究国内外文献综述1.国外研究现状近年来，随着政治、经济、技术等因素，在企业财务规划包括企业财务行为在内的公共利益增长中，促进税务机关对企业纳税活动的进一步沟通，并在国家报告标准中指出税收的不确定性，财务会计准则的建立决定了财务报告与税收优惠之间的权衡之后，国家权利团体反对企业税收筹划的声音，以及媒体决定了企业决策对税收的关注，本文的主要内容和要求是进一步分析税收主动性、决定性因素，许多初步工作集中于各种避税的定义和评价。
Anlon(2013)和McGill(2014)在利用财务报告数据估计或纳税时遇到了困难。
由于公司没有指明税务筹划策略，财务报表中的其他文件会找到开始证明公司税务结构的线索或指纹。
其中一些文件采取步骤来确定逃税活动的法律纠纷(例如，Wilson, 2009)。
2010年Lisowki;brown,2011)。
其他文件关注的是利用账户缺口的激进避税措施。
Desai(2016,2009)制定了针对避税的非正常会计平衡措施。
Frenk, Lynch和Rego(2009)定义了永久性的可自由支配的避税措施来检验逃税意图，战争后研究者也开始使用不确定的利益或税收模式来预测不确定的税收利益。
例如，Leggo 和Wilson在未来的研究中，作为财务规划的代理人，使用避税或其他激进的避税形式。
Hanon(2010)在优秀的税务调查中提供了对这项工作的宝贵整理，其中各种避税措施是恼人的。
Dyreng Hanlon,Maydew(2008)是这方面需要关注的研究。
他们制定长期税率来避税。
与公司财务报告中传统GAAP的有效税率相比，它不影响利润的计算，这是一种有趣的评价方法。
同样重要的是，黄金的有效税率反映了各种形式的避税。
这一措施反映了合法的财政规划，以及更激进、更可疑的财政战略。
长期和暂时的财政储蓄。
扩大税收措施有趣的是，研究人员记录的所得税税负的变化并不局限于税收交易(或法律问题)。
企业所得税纳税筹划文献综述
企业所得税纳税筹划文献综述摘要：随着市场经济的日渐成熟和各项法律法规的日益完善，依法纳税逐渐被我国大多数企业所认识和重视。
为了在税法规定的范围内充分利用税收政策来达到节约税收成本的目的；实现企业价值最大化，增强市场竞争力，企业进行纳税筹划的需求越来越强烈。
企业所得税作为我国税收制度中的一个重要税种，在企业所上缴的税收中所占的比重也很大，因而对其进行筹划对于企业来说意义重大。
本文主要介绍了国内外企业所得税纳税筹划的发展历史和国外税收的研究现状，并以新的《中华人民共和国企业所得税法》为基础，分析了国内所得税纳税筹划的研究现状。
关键字：所得税纳税筹划历史发展国内外研究现状引言：古今中外，税收都是遵循“无商无税，无税无国”的运行轨迹而变化和发展的，因而我们可以看出税收同经济，税收同国家之间存在着密不可分的关系。
王延明在《所得税会计与纳税筹划》（上海财经大学出版社，2007年2月第1版）一书中提到纳税人对税收的筹划不是起源于纳税人本身，而是起源于中介服务机构，即税务咨询事业，纳税筹划是税收咨询业务的一项重要内容。
提供税务咨询的服务活动，最早产生于意大利。
税收筹划的学术研究在纳税筹划业务的稍后便开始出现。
德国伐克主编的《德国与国际税收百科全书》所引用的最早文献是H.肖肯霍夫编写的《企业纳税筹划》他刊载于1959年出版的《工业企业计划》文集里，被认为是“纳税筹划”一词比较早的出现。
在20世纪50年代里，纳税筹划开始从企业经营计划里独立出来，引起了人们的重视，并由此带动了对包括个人纳税筹划的全面研究，开辟出了一个新的研究领域。
20世纪80年代以后，在纳税筹划业务广泛开展的同时，纳税筹划的理论研究，文章，刊物，书籍更是不断出现，新作频频，这进一步推动了纳税筹划的深入研究和快速发展。
法律上的权利和义务的对等性，体现在税收征纳上，即纳税人是缴纳税款的义务人，同时也享有一定的权利，这个权益的表现形式就是纳税筹划。
在国外，纳税筹划是企业经营中要考虑的一项重要内容。
税收筹划-外文文献
关于税收筹划的论文税务筹划是纳税人在法律规定许可的范围内，通过对投资、筹资、经营、理财等活动进行事先安排和筹划,尽可能减少不必要的纳税支出.以谋求最大限度的纳税利益，实现企业税后利润或现金流量最大化。
税收对国家来说是为了实现其职能，凭借政治权利按预定标准无偿地参与国民收入分配的一种手段；而对纳税人来说则是资金的净流出，节约税款支付等于增加纳税人的净收益.本文从税务筹划的必然性和如何进行税务筹划两个方面谈一下自己对税务筹划的认识.一、税务筹划的必然性我国是法治国家，纳税人必须根据税法的规定性履行纳税义务。
而纳税必然减少纳税人的净利润，为了在合理、合法、合规的情况下达到节税,实现利润最大化的目标，纳税人必须进行税务筹划。
即，环境是一定的，只有适应环境，才能改变自我。
我们的环境是：来源于市场，适应于市场。
而在市场运行中又必须遵循一定的市场规则，适应、掌握并较好地运用这些市场规则，最终实现纳税额度最低，企业利润最大，市场份额占有率最高，进行税务筹划是我们的必由之路.1、企业追求股东财富最大化使税务筹划成为必然；企业要生存、发展、获利，盈得社会各界人士的好评，获得投资者最大额度的投资.追求股东财富最大化是他的根本目标。
实现该目标的途径总体来说有两条：一是增加企业收入，二是降低企业成本费用。
而税款就作为一项费用而存在，在收入不变的情况下,降低税务支出，就等于降低成本费用，从而实现股东财富最大化。
2、税法的规定性、法律的严肃性使税务筹划成为必然；所谓税务筹划，是指在投资、筹资、经营、股利分配等业务发生之前，在法律、法规允许的范围之内，事先对纳税事项进行安排，以达到最低纳税额度。
而一旦投资、筹资、经营、股利分配等事项已发生，那么纳税义务就已经产生，这时再想方设法少交税款，就成为偷税、漏税，必将受到法律处罚.合理、合法、合规、及时、有效地进行税务筹划就象一把双刃剑，一方面使企业遵纪守法；一方面降低企业成本费用,增加净利.最终达到增强企业活力，提高的社会效益和经济效益的目的。
税收筹划文献
税收筹划文献以下是一些关于税收筹划的文献推荐：1. Desai, M. A. (2003). The logic of international restructuring. Journal of Financial Economics, 68(1), 33-62.该文献研究了跨国公司的国际税收筹划行为，并探讨了它们与公司业绩之间的关系。
2. Hines, J. R., & Rice, E. M. (1994). Fiscal paradise: Foreign tax havens and American business. The Quarterly Journal of Economics, 109(1), 149-182.这篇文章分析了美国企业使用海外避税天堂的情况，并讨论了这种行为对税收筹划的影响。
3. Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2-3), 127-178.该文献对税收研究的现有文献进行了综述，包括税收筹划的相关研究。
4. Dowd, T. J., & Daiber, A. F. (2002). Corporate domicile and average effective tax rates: The cases of tax haven and other countries. Journal of International Accounting, Auditing and Taxation, 11(2), 93-113.这篇研究探讨了公司所在国家对公司平均有效税率的影响，特别关注了税收天堂和其他国家。
5. Blouin, J. L., & Raedy, J. S. (2009). Tax-induced earnings management by firms with net operating losses. Journal of Accounting and Economics, 47(1-2), 61-83.该研究探讨了在有净营业亏损的情况下，企业如何通过税收筹划来进行盈余管理。
纳税筹划毕业论文英文版
毕业设计(论文)外文资料翻译题目:Tax Planning院系名称：国际学院专业班级：会计Tax PlanningTax planning involves conceiving of and implementing various strategies in order to minimize the amount of taxes paid for a given period. For a small business, minimizing the tax liability can provide more money for expenses, investment, or growth. In this way, tax planning can be a source of working capital. According to The Entrepreneur Magazine Small Business Advisor, two basic rules apply to tax planning. First, a small business should never incur additional expenses only to gain a tax deduction. While purchasing necessary equipment prior to the end of the tax year can be a valuable tax planning strategy, making unnecessary purchases is not recommended. Second, a small business should always attempt to defer taxes when possible. Deferring taxes enables the business to use that money interest-free, and sometimes even earn interest on it, until the next time taxes are due.Experts recommend that entrepreneurs and small business owners conduct formal tax planning sessions in the middle of each tax year. This approach will give them time to apply their strategies to the current year as well as allow them to get a jump on the following year. It is important for small business owners to maintain a personal awareness of tax planning issues in order to save money. Even if they employ a professional bookkeeper or accountant, small business owners should keep careful tabs on their own tax preparation in order to take advantage of all possible opportunities for deductions and tax savings. "Whether or not you enlist the aid of an outsider, you should understand the basic provisions of the tax code," Albert B. Ellentuck wrote in the Laventhol and Horwath Small Business Tax Planning Guide."Just as you would not turn over the management of your money to another person, you should not blindly allow someone else to takecomplete charge of your tax paying responsibilities." In addition, as Frederick W. Dailey wrote in his book Tax Savvy for Small Business, "Tax knowledge has powerful profit potential. Knowing what the tax law has to offer can give you a far better bottom line than your competitors who don't bother to learn."General Areas of Tax PlanningThere are several general areas of tax planning that apply to all sorts of small businesses. These areas include the choice of accounting and inventory-valuation methods, the timing of equipment purchases, the spreading of business income among family members, and the selection of tax-favored benefit plans and investments. There are also some areas of tax planning that are specific to certain business forms—i.e., sole proprietorships, partnerships, C corporations, and S corporations. Some of the general tax planning strategies are described below:ACCOUNTING METHODS. Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for record-keeping: the cash basis and the accrual basis. Small business owners must decide which method to use depending on the legal form of the business, its sales volume, whether it extends credit to customers, and the tax requirements set forth by the Internal Revenue Service (IRS). The choice of accounting method is an issue in tax planning, as it can affect the amount of taxes owed by a small business in a given year.Accounting records prepared using the cash basis recognize income and expenses according to real-time cash flow. Income is recorded upon receipt of funds, rather than based upon when it is actually earned, and expenses are recorded as they are paid, rather than as they are actually incurred. Under this accounting method, therefore, it is possible to defer taxable income by delaying billing so that payment is not received in the current year. Likewise, it is possible to accelerate expenses by paying them as soon as the bills are received, in advance of the due date. The cash method is simpler than the accrual method, it provides a more accurate picture of cash flow, and income is not subject to taxation until the money is actually received.In contrast, the accrual basis makes a greater effort to recognize income and expenses in the period to which they apply, regardless of whether or not money has changed hands. Under this system, revenue is recorded when it is earned, rather than when payment is received, and expenses recorded when they are incurred, rather than when payment is made. The main advantage of the accrual method is that it provides a more accurate picture of how a business is performing over the long-term than the cash method. The main disadvantages are that it is more complex than the cash basis, and that income taxes may be owed on revenue before payment is actually received. However, the accrual basis may yield favorable tax results for companies that have few receivables and large current liabilities.Under generally accepted accounting principles (GAAP), the accrual basis of accounting is required for all businesses that handle inventory, from small retailers to large manufacturers. It is also required for corporations and partnerships that have gross sales over $5 million per year, though there are exceptions for farming businesses and qualified personal service corporations—such as doctors, lawyers, accountants, and consultants. Other businesses generally can decide which accounting method to use based on the relative tax savings it provides.INVENTORY VALUATION METHODS. The method a small business chooses for inventory valuation can also lead to substantial tax savings. Inventory valuation is important because businesses are required to reduce the amount they deduct for inventory purchases over the course of a year by the amount remaining in inventory at the end of the year. For example, a business that purchased $10,000 in inventory during the year but had $6,000 remaining in inventory at the end of the year could only count $4,000 as an expense for inventory purchases, even though the actual cash outlay was much larger. Valuing the remaining inventory differently could increase the amount deducted from income and thus reduce the amount of tax owed by the business.The tax law provides two possible methods for inventory valuation: the first-in, first-out method (FIFO); and the last-in, first-out method (LIFO). As the names suggest, these inventory methods differ in the assumption they make about the way items are sold from inventory. FIFO assumes that the items purchased the earliest are the first to be removed from inventory, while LIFO assumes that the items purchased most recently are the first to be removed from inventory. In this way, FIFO values the remaining inventory at the most current cost, while LIFO values the remaining inventory at the earliest cost paid that year.LIFO is generally the preferred inventory valuation method during times of rising costs. It places a lower value on the remaining inventory and a higher value on the cost of goods sold, thus reducing income and taxes. On the other hand, FIFO is generally preferred during periods of deflation or in industries where inventory can tend to lose its value rapidly, such as high technology. Companies are allowed to file Form 970 and switch from FIFO to LIFO at any time to take advantage of tax savings. However, they must then either wait ten years or get permission from the IRS to switch back to FIFO.EQUIPMENT PURCHASES. Under Section 179 of the Internal Revenue Code, businesses are allowed to deduct a total of $18,000 in equipment purchases during the year in which the purchases are made. Any purchases above this amount must be depreciated over several future tax periods. It is often advantageous for small businesses to use this tax incentive to increase their deductions for business expenses, thus reducing their taxable income and their tax liability. Necessary equipment purchases up to the limit can be timed at year end and still be fully deductible for the year. This tax incentive also applies to personal property put into service for business use, with the exception of automobiles and real estate.WAGES PAID TO FAMILY MEMBERS.Self-employed persons can also reduce their tax burden by paying wages to a spouse or to dependent children. Wages paid to children under the age of 18 are not subject to FICA (Social Security and Medicare) taxes. Under normal circumstances, employers are required to withhold 7.65 percent of the first $62,700 of an employee's income for FICA taxes. Employers are also required to match the 7.65 percent contributed by every employee, so that the total FICA contribution is 15.3 percent. Self-employed persons are required to pay both the employer and employee portions of the FICA tax.play levels cadres in enterprise development in the of backbone backbone role; to full strengthening members youth work, full play youth employees in company development in the of force role; to improve independent Commission against corruption work level, strengthening on enterprise business key link of effectiveness monitored. , And maintain stability. To further strengthen publicity and education, improve the overall legal system. We must strengthen safety management, establish and improve the education, supervision, and evaluation as one of the traffic safety management mechanism. To conscientiously sum up the Olympic security controls, promoting integrated management to a higher level, higher standards, a higher level of development. Employees, today is lunar calendar on December 24, the ox Bell is about to ring, at this time of year, we clearly feel the pulse of the XX power generation company to flourish, to more clearly hear XX power generation companies mature and symmetry breathing. Recalling past one another across a railing, we are enthusiastic and full of confidence. Future development opportunities,we more exciting fight more spirited. Employees, let us together across 2013 full of challenges and opportunities, to create a green, low-cost operation, full of humane care of a world-class power generation company and work hard! The occasion of the Spring Festival, my sincere wish that you and the families of the staff in the new year, good health, happy, happy!But the FICA taxes are waived when the employee is a dependent child of the small business owner, saving the child and the parent 7.65 percent each. In addition, the child's wages are still considered a tax deductible business expense for the parent—thus reducing the parent's taxable income. Although the child must pay normal income taxes on the wages he or she receives, it is likely to be at a lower tax rate than the parent pays. Some business owners are able to further reduce their tax burden by paying wages to their spouse. If these wages bring the business owner's net income below $62,700—the threshold for FICA taxes—then they may reduce the self-employment tax owed by business owner. It is important to note, however, that the child or spouse must actually work for the business and that the wages must be reasonable for the work performed. BENEFITS PLANS AND INVESTMENTS.Tax planning also applies to various types of employee benefits that can provide a business with tax deductions, such as contributions to life insurance, health insurance, or retirement plans. As an added bonus, many such benefit programs are not considered taxable income for employees. Finally, tax planning applies to various types of investments that can shift tax liability to future periods, such as treasury bills, bank certificates, savings bonds, and deferred annuities. Companies can avoid paying taxes during the current period for income that is reinvested in such tax-deferred instruments.Tax Planning for Different Business Forms"The first step in tax planning—for small business owners and professionals, at least—is to select the right form of organization for your enterprise," according to Albert B. Ellentuck in the Laventhol and Horwath Small Business TaxPlanning Guide."You'll end up paying radically different amounts of income tax depending on the form you select. And your odds of being audited by the IRS will change, too." Many aspects of tax planning are specific to certain business forms; some of these are discussed below:SOLE PROPRIETORSHIPS AND PARTNERSHIPS.Tax planning for sole proprietorships and partnerships is in many ways similar to tax planning for individuals. This is because the owners of businesses organized as sole proprietors and partnerships pay personal income tax rather than business income tax. These small business owners file an informational return for their business with the IRS, and then report any income taken from the business for personal use on their own personal tax return. No special taxes are imposed except for the self-employment tax (SECA), which requires all self-employed persons to pay both the employer and employee portions of the FICA tax, for a total of 15.3 percent.Since they do not receive an ordinary salary, the owners of sole proprietorships and partnerships are not required to withhold income taxes for themselves. Instead, they are required to estimate their total tax liability and remit it to the IRS in quarterly installments, using Form 1040 ES. It is important that the amount of tax paid in quarterly installments equal either the total amount owed during the previous year or 90 percent of their total current tax liability. Otherwise, the IRS may charge interest and impose a stiff penalty for underpayment of estimated taxes.Since the IRS calculates the amount owed quarterly, a large lump-sum payment in the fourth quarter will not enable a taxpayer to escape penalties. On the other hand, a significant increase inwithholding in the fourth quarter may help, because tax that is withheld by an employer is considered to be paid evenly throughout the year no matter when it was withheld. This leads to a possible tax planning strategy for a self-employed person who falls behind in his or her estimated tax payments. By having an employed spouse increase his or her withholding, the self-employed person can make up for the deficiency and avoid a penalty. The IRS has also been known to waive underpayment penalties for people in special circumstances. For example, they might waive the penalty for newly self-employed taxpayers who underpay their income taxes because they are making estimated tax payments for the first time.Another possible tax planning strategy applies to partnerships that anticipate a loss. At the end of each tax year, partnerships file the informational Form 1065 (Partnership Statement of Income) with the IRS, and then report the amount of income that accrued to each partner on Schedule K1. This income can be divided in any number of ways, depending on the nature of the partnership agreement. In this way, it is possible to pass all of a partnership's early losses to one partner in order to maximize his or her tax advantages.C CORPORATIONS.Tax planning for C corporations is very different than that for sole proprietorships and partnerships. This is because profits earned by C corporations accrue to the corporation rather than to the individual owners, or shareholders. A corporation is a separate, taxable entity under the law, and different corporate tax rates apply based on the amount of net income received. As of 1997, the corporate tax rates were 15 percent on income up to $50,000, 25 percent on income between $50,000 and $75,000, 34 percent on income between $75,000 and $100,000, 39 percent on income between $100,000 and $335,000, and 34 percent on income between $335,000 and $10 million. Personal service corporations, like medical and law practices, pay a flat rate of 35 percent. In addition to the basic corporate tax, corporations may be subject to several special taxes.Corporations must prepare an annual corporate tax return on either a calendar-year basis (the tax year ends December 31, and taxes must be filed by March 15) or a fiscal-year basis (the tax year ends whenever the officers determine). Most Subchapter S corporations, as well as C corporations that derive most of their income from the personal services of shareholders, are required to use the calendar-year basis for tax purposes. Most other corporations can choose whichever basis provides them with the most tax benefits. Using a fiscal-year basis to stagger the corporate tax year and the personal one can provide several advantages. For example, many corporations choose to end their fiscal year on January 31 and give their shareholder/employees bonuses at that time. The bonuses are still tax deductible for the corporation, while the individual shareholders enjoy use of that money without owing taxes on it until April 15 of the following year.Both the owners and employees of C corporations receive salaries for their work, and the corporation must withhold taxes on the wages paid. All such salaries are tax deductible for the corporations, as are fringe benefits supplied to employees. Many smaller corporations can arrange to pay out all corporate income in salaries and benefits, leaving no income subject to the corporate income tax. Of course, the individual shareholder/employees are required to pay personal income taxes. Still, corporations can use tax planning strategies to defer or accrue income between the corporation and individuals in order to pay taxes in the lowest possible tax bracket. The one major play levels cadres in enterprise development in the of backbone backbone role; to full strengthening members youth work, full play youth employees in company development in the of force role; to improve independent Commission against corruption work level, strengthening on enterprise business key link of effectiveness monitored. , And maintain stability. To further strengthen publicity and education, improve the overall legal system. We must strengthen safety management, establish and improve the education, supervision, and evaluation as one of the traffic safety management mechanism. To conscientiously sum up the Olympic security controls, promoting integrated management to a higher level, higher standards, a higher level of development. Employees, today is lunar calendar on December 24, the ox Bell is about to ring, at this time of year, we clearly feel the pulse of the XX power generation company to flourish, to more clearly hear XX power generation companies mature and symmetry breathing. Recalling past one another across a railing, we are enthusiastic and full of confidence. Future development opportunities,we more exciting fight more spirited. Employees, let us together across 2013 full of challenges and opportunities, to create a green, low-cost operation, full of humane care of a world-class power generation company and work hard! The occasion of the Spring Festival, my sincere wish that you and the families of the staff in the new year, good health, happy, happy!disadvantage to corporate taxation is that corporate income is subject to corporate taxes, and then income distributions to shareholders in the form of dividends are also taxable for the shareholders. This situation is known as "double taxation."S CORPORATIONS. Subchapter S corporations avoid the problem of double taxation by passing their earnings (or losses) through directly to shareholders, without having to pay dividends. Experts note that it is often preferable for tax planning purposes to begin a new business as an S corporation rather than a C corporation. Many businesses show a loss for a year or more when they first begin operations. At the same time, individual owners often cash out investments and sell assets in order to accumulate the funds needed to start the business. The owners would have to pay tax on this income unless the corporate losses were passed through to offset it.Another tax planning strategy available to shareholder/employees of S corporations involves keeping FICA taxes low by setting modest salaries for themselves, below the Social Security base. S corporation shareholder/employees are only required to pay FICA taxes on the income that they receive as salaries, not on income that they receive as dividends or on earnings that are retained in the corporation. It is important to note, however, that unreasonably low salaries may be challenged by the IRS.Further Reading:Dailey, Frederick W. Tax Savvy for Small Business. 2nd ed. Berkeley, CA: Nolo Press, 1997. DeJong, David S., and Ann Gray Jakabcin. J. K. Lasser's Year-Round Tax Strategies. New York: Macmillan, 1997.Ellentuck, Albert B. Laventhol and Horwath Small Business Tax Planning Guide.New York: Avon Books, 1988.The Entrepreneur Magazine Small Business Advisor. New York: Wiley, 1995.Hoover, Kent. "Critics Blast IRS Rule Change." Triangle Business Journal. April 21, 2000. Marullo, Gloria Gibbs. "Hiring Your Child: Tax Breaks and Trade-Offs." Nation's Business. June 1997.Wiener, Leonard. "How to Keep One Step Ahead: Hot Tips for Turning an Annual Chore into Many Happy Returns." U.S. News and World Report. March 9, 1998.Wiener, Leonard. "Tricks to Trim Taxes." U.S. News and World Report. December 7, 1998.Read more: /topic/tax-planning-in-accounting#ixzz1BCchgCf3play levels cadres in enterprise development in the of backbone backbone role; to full strengthening members youth work, full play youth employees in company development in the of force role; to improve independent Commission against corruption work level, strengthening on enterprise business key link of effectiveness monitored. , And maintain stability. To further strengthen publicity and education, improve the overall legal system. We must strengthen safety management, establish and improve the education, supervision, and evaluation as one of the traffic safety management mechanism. To conscientiously sum up the Olympic security controls, promoting integrated management to a higher level, higher standards, a higher level of development. Employees, today is lunar calendar on December 24, the ox Bell is about to ring, at this time of year, we clearly feel the pulse of the XX power generation company to flourish, to more clearly hear XX power generation companies mature and symmetry breathing. Recalling past one another across a railing, we are enthusiastic and full of confidence. Future development opportunities, we more exciting fight more spirited. Employees, let us together across 2013 full of challenges and opportunities, to create a green, low-cost operation, full of humane care of a world-class power generation company and work hard! The occasion of the Spring Festival, my sincere wish that you and the families of the staff in the new year, good health, happy, happy!。
浅析新时期个人所得税纳税筹划开题报告及文献综述
毕业设计（论文）开题报告题目:浅析新时期个人所得税的筹划英文题目:A Study on the planning of Personal Income Tax in the new period 系别: 工商管理系专业: 会计学班级: 07 级会本 (2) 班学号: 姓名: 指导老师:填表日期: 2010年-11月-15日一、选题的依据及意义：市场经济的不断发展，收入水平的提高，个人所得税的筹划越来越被人们所认识和重视.个人所得税逐渐与我们每个人都息息相关，个人所得税筹划将越来越普遍。
2006-2009年我国提高了工资、薪金的费用扣除标准，起征点从1200调制1600.到目前为止.至2010年.部分地区现在还调至2000.但全国个人所得税的继续保持增长，之所以在工资薪金所得费用标准提高后，个人所得税的收入还能够保持增长，首先是得益于经济发展带来可以预见，中国将逐步进入“全民纳税”的时代。
随着税收征管力度的加大，纳种人偷逃税款的空间越来越小，况月，偷逃税款会受到法律的处罚。
因而对纳税人来说，应将重点放在个人所得税的纳税筹划上。
通过对个人所得税的纳税筹划研究，能使我们在符合立法精神的前提下，进行科学的节税规划，与偷税漏税有这本质区别，具有在不违反税法前提下达到节税的目标。
因此，必将成为纳税人减轻税收负担，依法节税的必然选择，对个人所得税的筹划不仅可以使纳税人少缴冤枉税，也可以使得国家更好的完善税法二、国内外研究现状及发展趋势（文献综述）：引言：由于目前我国个人所得税征收面过窄、收入比重偏低，严重制约了我国财政收入；，也与我国现阶段经济发展及收入分配结构不相适应。
所以个人所得税纳税筹划也就引起广泛关注。
同时，随着市场经济的日渐成熟和各项法力法规的日益完善，依法纳税逐渐被人们所认识和重视，如何才能获得最大收益是要考虑的问题了.国内研究现状：我国个人所得税起步较晚，税务筹划在我国出现的历史很短，而目前对个人所得税的纳税筹划研究少，我国还尚属于一个比较新的课题。
税收筹划国内外文献综述
税收筹划国内外文献综述税收筹划是对税收政策进行科学合理应用和操作的一种有效手段。
随着全球经济的不断发展，税收筹划的重要性日益凸显。
本文将综述国内外相关文献，旨在为税务从业人员提供指导，进一步完善税收筹划措施。
国内文献综述从国内文献来看，税收筹划已经成为一种必备的企业经营管理手段。
肖立平等人在《税收筹划与风险管理》中指出，税收筹划是企业实现规模化、多元化、国际化的重要手段，能够有效降低企业税负，提高企业盈利能力，同时也有助于降低企业面临的各种风险。
昆明理工大学的王红红、何瑛等在《企业税收筹划情况研究》中发现，绝大部分企业把税收筹划的重点放在了收入的筹划上，而忽略了支出的筹划，这种策略不仅会导致企业成本变高，还有可能存在税收风险。
因此，企业在进行税收筹划时需要全面考虑，注重平衡收入与支出，实现最大程度的税收优惠。
此外，国内学者还对税收筹划存在的几个关键问题进行了研究。
例如，如何处理跨国企业的税收筹划问题？中国向别国转移价格的计算方法怎么制定？如何应对税务机构的税收调查？对此，包括河南财经政法大学的尤艳、杨雪在内的学者都进行了深入探讨，并提出了对应的策略建议。
国外文献综述与国内相比，国外学者在税收筹划方面的研究更具广度和深度。
例如，美国著名财经学家Avery E. Neumark在《税收筹划手册》中系统介绍了各种税收筹划的方法和技巧，并详细解释了每种方法的优缺点和使用范围。
同时，他也提醒企业在进行税收筹划时需要尽可能降低各种风险，避免违反税法规定。
欧洲也是一个税收筹划的重要研究领域。
瑞典乌普萨拉大学的Daniel C. Johansson等人在《全球税收筹划》中，深入分析了全球跨国企业的税收筹划情况，并提出了构建新的全球税收体系的可能性。
他们认为，全球税收体系需要更加公平、合理地分配全球企业的税收负担，同时也需要各国政府之间加强合作与沟通。
总结本文综述了国内外相关税收筹划研究文献，可以看出，税收筹划已经成为全球企业管理中不可或缺的一部分。
企业所得税税收筹划研究大学毕业论文外文文献翻译及原文
毕业设计（论文）外文文献翻译文献、资料中文题目：企业所得税税收筹划研究文献、资料英文题目：文献、资料来源：文献、资料发表（出版）日期：院（部）：专业：班级：姓名：学号：指导教师：翻译日期： 2017.02.14Study on the Tax Planning of Enterprise Income TaxHongceng Cao & Xiaohui XuCollege of Economics, Shenyang UniversityShenyang 110044, ChinaGuojie AoDepartment of Accounting and Financial Affairs, Shenyang UniversityShenyang 110044, ChinaAbstractThe enterprise income tax occupies is very important status in the tax paying of enterprise, and it has large space of tax planning. Under the background that the new enterprise income tax law was issued, we discussed the problem how to use tax planning to reduce the tax burden of enterprise and realize the maximization of the total profit for the enterprise. In this article, we studied the tax financing in the stage of enterprise financing from the selection of financing mode and the confirmation of financing channel, and put forward that the enterprise should select the liability financing mode to the largest extent in the critical risk range of equity structure. We studied the tax planning in the stage of investment of enterprise from three aspects including correctly selecting the investment direc tion, confirming proper enterprise organization form and selecting tax saving investment subject. We studied the tax planning from two aspects such as income and charge deduction. We studied the tax planning in the distribution stage of enterprise management result from first utilizing taxable income to compensate the loss, the loss recovering sequence of domestic investment profit return and the profit distribution strategy in the low tax region. For above aspects, we all put forward our own new theoretical opinions.Keywords: Enterprise income tax, Tax planning, Tax preferenceComparing with the old enterprise income law, the new enterprise income law changed in many aspects such as the taxpayer, the pre-tax deduction, and the tax preference, which put forward new task for the tax planning of the enterprise income tax. Under the background of new enterprise income tax, we will discuss the tax planning in the main stages such as the enterprise financing, investment, management and distribution.1. Tax planning in the stage of enterprise financingThe tax planning of the income tax in the stage of enterprise financing mainly includes the contents about the financing mode and the financing channel.1.1 Tax planning of financing modeThe financing modes of enterprise mainly include the equity financing and liability financing, and two different financing modes will produce different tax results. Generally speaking, under the fixed tax rate level, the liability financing can produce the interest rigid cost which can be reported before tax. When the account profit is adjusted as the taxable income, the tax law allows that the interest expenditure induced by the liability can be deducted before tax in the same interest rate regulated by the Bank in the same period, which equals that the state finance assumes a quarter of interest cost fro the enterprise. The equity financing is the flexi ble cost of bonus stock which can be reported after tax. The mode that the enterprise provides bonus stock and dividend to the investors is only one item of the distraction of post-tax profit (net profit), and it must be distributed after tax. The tax saving difference between two financing modes is very obvious. In the equity structure of enterprise, the proportion of the liability equity is higher, and the saving effectof the tax cost is more significant. So under the prem ise that the rate of or return on inv estment is higher than the liabilitycost rate, enhancing the proportion of liability financing will bring extra economic benefits for the owner of the enterprise, and finally increase the value of the enterprise. But we should also pay attention to that will increase the financial risk of the enterprise, and excessive liability will even induce the ab normality of the enterprise equity structure, and the liability crisis will make the financial status of the enterprise fall into collapse. Therefore, before the enterprise makes the tax planning of financing mode, it must ensure that the equity structure is in the critical risk range.1.2 Tax planning of enterprise financing channelThe financing channels of enterprise mainly include bank loan, self-accumulation of enterprise, inter-enterprise lending interior collection of en terprise, bond or stock issuance and commercial credit. Under usual situation, the sequence of the tax burden from heavy to light is self-accumulation of enterprise, bank loan, inter-enterprise lending and interio collection of enterprise. The prin ciple of tax planning of financing channel is that under the premise that the equity structure is to select the channel with higher profit and lower harm in the critical risk range, through comparing the advantages and disadvantages of various financing channels.2. Tax planning in the investment stage of enterpriseFor the tax planning in the investment stage of enterprise, we mainly consider three aspects, i.e. the selection of investment direction, the selection of enterprise organization form and the selection of investment mode.2.1 Selecting correct investment directionThe new enterprise income tax established the new tax preference which gave priority to the industrial preference assisted by the regional preference, giving attention to the social advancement . Investors should select the investmen industry to reduce the tax burden according to the regulations about the national industrial policies and tax preference and response the industrial policy gui dance of the government. First, because the industrial select possesses strategicmeanings for the development trend of the enterprise, so when the investors make the decision of industrial investment they should scientifically demonstrate the investment and carefully make the decision, and they should consider not only their own industrial advantages, but also national industrial support policies, industrial tax preference policies, and make the rare resources of the enterprise to the green sunrise industries such as the agriculture, scientific technology environment protection and energy saving. Second, the enterprise income tax regulated regional preference for Chinese western regions, minority regions and special economic zones, and the enterp rise should study out multiple selectable investment programs in possible investment regions, and it should not only compare the cost incomes of various regional investment programs, but compare the tax levels of various programs, and make the comprehensive evaluation for the comprehensive benefits of variou s regional investment programs, which can not only reduce the tax burden, but find the regional investment program with maximum economic benefit.2.2 Selecting proper enterprise organization formThe tax planning of enterprise organization form should mainly consider four parts including establishment, expansion, division and merger. First, we will study the tax planning when the enterprise is established and select the organization form. According to the organization form, the enterprise types include individual proprietorship enterprise, partnership enterprise and limited corporation which can be divided into limited liability company and joint stock limited partnership, and because the tax system regulates different tax burden levels for the enterprises with different organization forms, so the establishment costs and advantages of different organization forms are different, and the tax is one of factors we should consider when we select the organization form of the enterprise. Especially when the organization form of the enterprise has large influence to theproduction and management, the tax will be the important factor which we should consider, and investors can select the organization form of the ent erprise to reduce the tax burden for the enterprise. Second, we will research the tax planning when the enterprise is expanded and needs to select the organization form. Enterprise always actualizes the scale expansion by increasing branches, but the tax policies for the branches with different forms in the tax law are obviously different, so enterprise should select the organization form of the branch. For the filiale and the subsidiary company, they respectively have their advantages and disadvantages for the tax, so the loss of the branch can counteract the gain of the parent company and reduce the total taxable income of the company. The subsidiary company and the parent company are regarded as two entities in the law, but the subsidiary company can obtain various tax preference policies regulated by the laws or local government. So the enterprise should comprehen sively consider the profit ability of the branch when it selects the form of the branch, and it should adopt the form of filiale when the branch is in the loss period, and adopt the form of subsidiary company when the branch is in the profit period. Third, we will study the tax planning in the division and merger of the enterprise. According to the regulations of the enterprise income law, enterprises should pay the income tax by 25%, but it also regulates that the small-sized profit-mak ing enterprise can pay the income tax by 20%, so the middle and small-sized enterprise can adopt the division measure to separate the branch from th e enterprise to reduce the taxable income and the tax burden. The enterprise income tax regulates that the profitable enterprise a nnexes unprofitable enterprise, it can use the accumulated loss of the unprofitable enterprise to counteract the profit of the profitab le enterprise and reduce the taxable income and the tax burden. Therefore, in the merger of enterprises, the profitable enterprise can reduce the enterprise income tax by annexing unprofitable enterprises.2.3 Selecting the investment subject of tax savingAccording to different forms of investment subject, the investment of enterprise can be divided into monetary investment, tangible investment and im material investment. The monetary investment doesn’t increase the tax burden of investors, but it will influence the cash flux and payment ability of the enterprise. Different tax regulations aim at different tangible investment types, for example, fo r the estate investment, investors need not pay relative sales tax (if investor belongs to the real estate enterprise, the land value increment tax needs not be paid temporarily), and the depreciation of the estate can be deducted before tax to reduce the tax base of the en terprise income tax. For the sock-in-trade investment, the tax law will regard it as the sales goods and increase the tax bases of the value increment tax and the enterprise income tax, and the enterprise need pay the increment tax and the enterprise income tax. The immaterial investment can deduct the withholding income tax for the enterprise, and realize the deduction before tax through amortization year by year, which can reduce the tax base of the enterprise income tax. So when the enterprise selects the investment subject, it can select the tangible investment and immaterial investment which are better than the monetary investment from the view of the invested enterprise. Certainly, for the view of investing enterprise, it will assume more tax burdens such as the enterprise income tax, the increment tax and the consump tion tax when it selects the tangible investment and immaterial investment, so the investing enterprise should comprehensively consider the tax burdens of two parties to select the proper investment form.3. Tax planning in the production and management stage of enterpriseThe tax base of the enterprise income tax is the taxable income amount which equals to that an enterprise’s total inco me amount of each tax year deducts the tax-free incomes, tax-exempt incomes, each deduction items as well as the permitted remedies for losses of the previous years. And the income items, tax-free incomes and tax-exempt incomes and each deduction items are all generated in the production and management of the enterprise. So the tax planning of the enterprise incometax in the production and management can be implemented from two items such as the income items and the deduction items.3.1 Tax planning of incomeThe total income amount of the enterprise in the present term is decided by the sales amount of the product, the unit sales price of the product and the selected sales mode of the product, so the tax planning of the enterprise income tax about the income mainly includes the scale of production and sale, the sales price and the sales mode. First, for the planning of production and sale scale, under the premise of certain sale unit price, the income scale of the enterprise is decided by the sales amount. The scale of production and sale belongs to the item independently controlled by the enterprise, and the scale of production and sale will influence the tax burden of the enterprise which will influence the scale of production and sale in the same way. Therefore, when the enterprise confirms the scale of production and sale, it must consider the tax burden at term. According to the enterprise’s self management ability, the enterprise should find the critical point of profit and loss, and seek the scale of production and sale with maximum profits. Second, for the planning of sales price, under the premise of certain production and sale amount, the income scale of the enterprise is decided by the price level which is also the item independently controlled by the enterprise. The enterprise should consider many factors such as the cost level, the market de mand and the competition strategy, and the tax burden level is the important factor which should be considered by the enterprise, and the confirmation of the sales price can not only include the pre-tax income and income tax of the enterprise, but will directly influence the increment tax and other relative taxes. In the tax planning of income, we should take the sales price as the factor we should mainly considered. Third, for the planning of sales mode, in the sales proce ss of the product, the enterp rise possesses the independent selection right to the sales mode, and different sales mode always apply in different tax policies, i.e. the treatment difference of tax exists in this aspect, which offers the possibility to utilize different sales mode to plan the income tax. In a word, under the premise disobeying the tax law, the enterprise should compress the income scale which has exceeded the critical point of the tax rate from the sales scale and the sales price, and make the enterprise obtain the preference policies of low tax rate. For the selection of sales mode, the enterprise should delay the implementation of the income and the tax obligation to the best, which will not only compress the income scale in the present term to make the enterprise obtain the preference policy of low tax rate, but also make the enterprise obtain the profit of interest-free loan because of delaying the implementation of tax obligation.3.2 Tax planning of cost charge deductionThe payout of the enterprise can be divided into the profitable payout and the capital payout according to the time of the profitable term. The profitable payout should be reported in th e present cost charge, and the capital payout is divided and respectively reported in the cost charges of the present and future terms. For these two sorts of payout, the planning of the enterprise income tax should treat them differently.3.2.1 Tax planning of profitable payoutBecause different situations of profit and loss, and different tax preferences will differently influence the tax planning of enterprise, so we should respectively plan the tax of the profitable payout aiming at different situations of profit and loss. First, suppose the enterprise is profitable, because the profit able payout can be deducted from the enterprise income tax, the enterprise should select the planning method with large prophase cost. To make the tax deduction effect of the cost exert its function as soon as possible, and delay the realization of the pr ofit, then enterprise should delay the tax obligation time of the income tax. Second, suppose the enterprise is in loss, theplanning method should be combined with the loss remedy of the enterprise. The enterprise should try to make the cost charge in the year with pretax loss remedy higher and make the cost charge in the year w ithout or incompletely with pretax loss remedy lower, and accordingly ensure the tax reduction effect of the cost charge will be exerted to the largest extent. Finally, suppose the enterprise is enjoying th e preference policy of the enterprise income tax, because the taxdeduction effect of the cost charge in the tax deduction period will completely or pa rtly be deducted through the deduction preference, so the enterprise should select the planning method which has few costs in the tax deduction period and has more costs in the non-tax-deduction period.3.2.2 Tax planning of capital payoutAs the modernization degree of enterprise is gradually enhanced, the proportion of the purchase payout of the long-term assets such as the fixed assets and immaterial assets which reflect the progress of the technology of the enterprise is higher and higher, and the tax planning of the fixed assets depreciation and the immaterial assets salesmanship possesses special importance in the tax planning of the enterprise income tax. First, the tax law doesn’t recognize the devaluation preparation of long-term assets which the enterprise picks up, but the taxpayer can utilize the relative regulations about the subseq uent expenses of the long-term assets to adjust the depreciation base. The enterprise should combine the long-term development, rebuild the fixed assets designedly, enhance the technical level of the enterprise, and improve the comprehensive competition strengthen of the enterprise. At the same time , the enterprise can put the subsequent expenses acco rding with the capitalization cond itions into the fixed assets cost, increase the depreciation picking base, and accordingly increase the depreciation amount of the deduction, reduce the taxable income of the present term and save the tax. For various payouts which don’t accord with the confirmation conditions of long-term assets, they should be counted into the profit and loss of th e present term. Second, the “Chinese Enterprise Income Tax Law” regulated that the fixed assets of the enterprise needed to be depreciated quickly because of technical progress, the enterprise could reduce the depreciation fixed number of year or adopt the method of quick depreciation. To reduce the depreciation year can quicken the withdrawal of the costs, move the anaphase cost charges to the anterior period, and move the prophase account profit to the latter period. When the tax rate is fixed, the delayed payment of the income tax equals to obtain an interest-free loan from the country. When the tax rate is not fixed, the extension of the depreciation term can also reduce the tax burden for the enterprise. And the selection of the depreciation method of the long-term assets should be scientific, reasonable and legal. Finally, when the enterprise is in the non-deduction period of the income tax, taxpayer should apply for reducing the residual proportion for the tax department in time according to the characters of the assets. When the residual proportion is reduced , the depreciation tax de duction will increase, which could not only maintain the taxpayer’s right, but bring large tax benefit f or the taxpayer.4. Tax planning in the management result distribution stage of enterprise4.1 First utilizing the taxable income to compensate the lossFor the yearly loss of the enterprise, the tax law regulates to allow the enterprise uses the pretax profit in the next year to compensate it. And if the profit in the next year is not enough to compensate, the enterprise is allowed to compensate the loss year after year, but the longest term should be limited in 5 years. In this way, the enterprise can use the selection right of the assets price counting and amortization method allowed by the tax law, and the selection right of the expenses reported range standard to more report the pretax deduction items and deduction amount, and continue to induce the loss before the term of five years is at term, accordingly to prolong the term of the preference policy.4.2 Arranging the domestic investment return to compensate the loss according to the sequence from low tax rate to high tax rateAccording to the en terprise income tax, the investors’ after-tax profits returned from the associated enterprise should pay the income tax, but if the enterprise which is the investor has loss or past yearly loss which has not be remedied, the returned profit can be used to remedy the loss, and for the surplus part, the enterprise should pay the income tax. Therefore, if the investor is the enterprise which can be applicable for different income tax rates, the enterprise can select the sequence from low tax rate to high tax rate, to use th e returned investment profit remedy the loss and make the taxpayer’s income tax reduce to the least level.4.3 Keeping that the investment return in the low tax region doesn’t be distributedIn the existing enterprise income tax, for the taxpayer’s profit returned from other enterprise which has paid the income tax, the tax amount of the tax payment can be adjusted when computing the income tax of the enterprise. If the profit of the invested enterprise has not be distributed to the investors, the investors need not to pay the income tax, and in this way, to keep that the investment return in the low tax region doesn’t be distributed and turn it into the investment capital can reduce investors’ tax burden.ReferencesChinese CPA Association. (2008). Tax Law. Beijing: Economic Science Press.The Fifth Session of the Tenth NPC. (2007). Enterpri se Income Tax Law of China. Mar. 16, 2007.Wang, Xinjian. (2006). The Method of Enterprise Tax Planning. Shandong Commercial Accounting. No.2.Zhou, Yan. (2008). Influences of New Enterprise Income Tax Law on Enterprise Tax Planning. Friends of Accounting.No.15.Zhuang, Fenrong. (2007). Hundred Classic Practical Examples of Tax Planning.Beijing: Mechanical Industry Press.企业所得税税收筹划研究摘要企业所得税的税收空间很大，在企业的纳税额中占有很大的比重。
税收筹划的外文文献及翻译
Planning forever tax savings●Learn how to keep your tax bill at the legal minimum…and keep it there!By Mark E.BattersbyNow is the best time to think about reducing the ornamental and miscellaneous metal operation's tax bill even lower than the point the economy may have driven it to.And,of course,aim to keep that tax bill at its legal minimum for many year to come。
While many of us rely on the advice and help provided by tax professionals or utilize software programs to ensure a low tax bill，the real goal should be a low tax bill for not just this tax year but year—after—year。
The best guarantee of consistently low tax bill,this year,next year,and so—on down the road is,of course，tax planning。
Tax planning is easy:the more tax deductions taken，the lower the fabricating operations taxable income will be—-—-at least for this tax year。
【精品】纳税筹划外文文献原文及翻译
TaxPlanning Taxplanninginvolvesconceivingofandimplementingvariousstrategiesinord ertominimizetheamountoftaxespaidforgivenperiod.Forasmallbusiness,min imizingthetaxliabilitycanprovidemoneyforexpenses,investment,orgrowth .Inthisway,taxplanningcanbeasourceofworkingcapital.Accordingto TheEnt repreneurMagazineSmallBusinessAdvisor,twobasicrulesapplytotaxplannin g.First,asmallbusinessshouldneverincuradditionalexpenseonlytogainata xdeduction.Whilepurchasingnecessaryequipmentpriortotheendoftaxyearca nbeavaluabletaxplanningstrategy,markingunnecessarypurchasesisnotreco mmended.Secondasmallbusinessshouldalwaysattempttodefertaxeswhenpossi ble.Deferringtaxesenablesthebusinesstousethatmoneyinterest-free,ands ometimesevenearninterestonit,untilthenexttimetaxesaredue. Expertsrecommendthatentrepreneursandsmallbusinessownersconductformal taxplanningsessionsinthemiddleofeachtaxyear.Thisapproachwillgivethem timetoapplytheirstrategiestothecurrentyearaswellasallowthemtogetajum ponthefollowingyear.Itisimportantforsmallbusinessownerstomaintainape rsonalawarenessoftaxplanningissuesinordertosavemoney.Evenifemployapr ofessionalbookkeeperoraccountant,smallbusinessownersshouldkeepcarefu ltabsontheirsowntaxpreparationinordertotakeadvantageofallpossibleopp ortunitiesfordeductionandtaxsavings.＂Whetherornotyouenlisttheaidofanoutsider,youshouldunderstandthebasicp rovisionsofthetaxcode.＂Justasyouwouldnotturnoverthemanagementofyourmoneytoanotherperson,you shouldnotblindlyallowsomeoneelsetotakecompletechargeofyourtaxpayingr esponsibilities."Inaddition,asFrederickW.Daileywroteinhisbook TaxSavv yforSmallBusiness,"Taxknowledgehaspowerfulprofitpotential.Knowingwha tthetaxlawhastooffercangiveyouafarbetterbottomlinethanyourcompetitor swhodon'tbothertolearn.GeneralAreasofTaxPlanning Thereareseveralgeneralareasoftaxplanningthatapplytoallsortsofsmallbu sinesses.Theseareasincludethechoiceofaccountingandinventory-valuatio nmethods,thetimingofequipmentpurchases,thespreadingofbusinessincomea mongfamilymembers,andtheselectionoftax-favoredbenefitplansandinvestm ents.Therearealsosomeareasoftaxplanningthatarespecifictocertainbusin essforms—i.e.,soleproprietorships,partnerships,Ccorporations,andScorpo rations.Someofthegeneraltaxplanningstrategiesaredescribedbelow: ACCOUNTINGMETHODS.Accountingmethodsrefertothebasicrulesandguidelines underwhichbusinesseskeeptheirfinancialrecordsandpreparetheirfinancia lreports.Therearetwomainaccountingmethodsusedforrecord-keeping:theca shbasisandtheaccrualbasis.Smallbusinessownersmustdecidewhichmethodto usedependingonthelegalformofthebusiness,itssalesvolume,whetheritexte ndscredittocustomers,andthetaxrequirementssetforthbytheInternalReven ueService(IRS).Thechoiceofaccountingmethodisanissueintaxplanning,asi tcanaffecttheamountoftaxesowedbyasmallbusinessinagivenyear. Accountingrecordspreparedusingthecashbasisrecognizeincomeandexpenses accordingtoreal-timecashflow.Incomeisrecordeduponreceiptoffunds,rath erthanbaseduponwhenitisactuallyearned,andexpensesarerecordedastheyar epaid,ratherthanastheyareactuallyincurred.Underthisaccountingmethod, therefore,itispossibletodefertaxableincomebydelayingbillingsothatpay mentisnotreceivedinthecurrentyear.Likewise,itispossibletoacceleratee xpensesbypayingthemassoonasthebillsarereceived,inadvanceoftheduedate .Thecashmethodissimplerthantheaccrualmethod,itprovidesamoreaccuratep ictureofcashflow,andincomeisnotsubjecttotaxationuntilthemoneyisactua llyreceived.Incontrast,theaccrualbasismakesagreaterefforttorecognizeincomeandexp ensesintheperiodtowhichtheyapply,regardlessofwhetherornotmoneyhascha ngedhands.Underthissystem,revenueisrecordedwhenitisearned,ratherthan whenpaymentisreceived,andexpensesrecordedwhentheyareincurred,rathert hanwhenpaymentismade.Themainadvantageoftheaccrualmethodisthatitprovi desamoreaccuratepictureofhowabusinessisperformingoverthelong-termtha nthecashmethod.Themaindisadvantagesarethatitismorecomplexthanthecash basis,andthatincometaxesmaybeowedonrevenuebeforepaymentisactuallyrec eived.However,theaccrualbasismayyieldfavorabletaxresultsforcompanies thathavefewreceivablesandlargecurrentliabilities. Undergenerallyacceptedaccountingprinciples(GAAP),theaccrualbasisofac countingisrequiredforallbusinessesthathandleinventory,fromsmallretai lerstolargemanufacturers.Itisalsorequiredforcorporationsandpartnersh ipsthathavegrosssalesover$5millionperyear,thoughthereareexceptionsfo rfarmingbusinessesandqualifiedpersonalservicecorporations—suchasdoctors,law yers,accountants,andconsultants.Otherbusinessesgenerallycandecidewhi chaccountingmethodtousebasedontherelativetaxsavingsitprovides. INVENTORYVALUATIONMETHODS.Themethodasmallbusinesschoosesforinventory valuationcanalsoleadtosubstantialtaxsavings.Inventoryvaluationisimpo rtantbecausebusinessesarerequiredtoreducetheamounttheydeductforinven torypurchasesoverthecourseofayearbytheamountremainingininventoryatth eendoftheyear.Forexample,abusinessthatpurchased$10,000ininventorydur ingtheyearbuthad$6,000remainingininventoryattheendoftheyearcouldonly count$4,000asanexpenseforinventorypurchases,eventhoughtheactualcasho utlaywasmuchlarger.Valuingtheremaininginventorydifferentlycouldincre asetheamountdeductedfromincomeandthusreducetheamountoftaxowedbythebu siness.Thetaxlawprovidestwopossiblemethodsforinventoryvaluation:thefirst-in ,first-outmethod(FIFO);andthelast-in,first-outmethod(LIFO).Asthename ssuggest,theseinventorymethodsdifferintheassumptiontheymakeaboutthew ayitemsaresoldfrominventory.FIFOassumesthattheitemspurchasedtheearli estarethefirsttoberemovedfrominventory,whileLIFOassumesthattheitemsp urchasedmostrecentlyarethefirsttoberemovedfrominventory.Inthisway,FI FOvaluestheremaininginventoryatthemostcurrentcost,whileLIFOvaluesthe remaininginventoryattheearliestcostpaidthatyear.LIFOisgenerallythepreferredinventoryvaluationmethodduringtimesofrisi ngcosts.Itplacesalowervalueontheremaininginventoryandahighervalueont hecostofgoodssold,thusreducingincomeandtaxes.Ontheotherhand,FIFOisge nerallypreferredduringperiodsofdeflationorinindustrieswhereinventory cantendtoloseitsvaluerapidly,paniesareallowe dtofileForm970andswitchfromFIFOtoLIFOatanytimetotakeadvantageoftaxsa vings.However,theymusttheneitherwaittenyearsorgetpermissionfromtheIR StoswitchbacktoFIFO.EQUIPMENTPURCHASES.UnderSection179oftheInternalRevenueCode,businesse sareallowedtodeductatotalof$18,000inequipmentpurchasesduringtheyeari nwhichthepurchasesaremade.Anypurchasesabovethisamountmustbedepreciat edoverseveralfuturetaxperiods.Itisoftenadvantageousforsmallbusinessestousethistaxincentivetoincreasetheirdeductionsforbusinesse xpenses,thusreducingtheirtaxableincomeandtheirtaxliability.Necessary equipmentpurchasesuptothelimitcanbetimedatyearendandstillbefullydedu ctiblefortheyear.Thistaxincentivealsoappliestopersonalpropertyputint oserviceforbusinessuse,withtheexceptionofautomobilesandrealestate. WAGESPAIDTOFAMILYMEMBERS.Self-employedpersonscanalsoreducetheirtaxbu rdenbypayingwagestoaspouseortodependentchildren.Wagespaidtochildrenu ndertheageof18arenotsubjecttoFICA(SocialSecurityandMedicare)taxes.Un dernormalcircumstances,employersarerequiredtowithhold7.65percentofth efirst$62,700ofanemployee'sincomeforFICAtaxes.Employersarealsorequir edtomatchthe7.65percentcontributedbyeveryemployee,sothatthetotalFICA contributionis15.3percent.Self-employedpersonsarerequiredtopaybothth eemployerandemployeeportionsoftheFICAtax. ButtheFICAtaxesarewaivedwhentheemployeeisadependentchildofthesmallbu sinessowner,savingthechildandtheparent7.65percenteach.Inaddition,the child'swagesarestillconsideredataxdeductiblebusinessexpenseforthepar ent—thusreducingtheparent'staxableincome.Althoughthechildmustpaynor malincometaxesonthewagesheorshereceives,itislikelytobeatalowertaxrat ethantheparentpays.Somebusinessownersareabletofurtherreducetheirtaxb urdenbypayingwagestotheirspouse.Ifthesewagesbringthebusinessowner'sn etincomebelow$62,700—thethresholdforFICAtaxes—thentheymayreducetheself-employmenttaxowedbybusinessowner.Itisimportanttonote,however,th atthechildorspousemustactuallyworkforthebusinessandthatthewagesmustb ereasonablefortheworkperformed. BENEFITSPLANSANDINVESTMENTS.Taxplanningalsoappliestovarioustypesofem ployeebenefitsthatcanprovideabusinesswithtaxdeductions,suchascontrib utionstolifeinsurance,healthinsurance,orretirementplans.Asanaddedbon us,manysuchbenefitprogramsarenotconsideredtaxableincomeforemployees. Finally,taxplanningappliestovarioustypesofinvestmentsthatcanshifttax liabilitytofutureperiods,suchastreasurybills,bankcertificates,saving sbonds,paniescanavoidpayingtaxesduringthecur rentperiodforincomethatisreinvestedinsuchtax-deferredinstruments. TaxPlanningforDifferentBusinessForms"Thefirststepintaxplanning—forsmallbusinessownersandprofessionals,a tleast—istoselecttherightformoforganizationforyourenterprise,"accor dingtoAlbertB.EllentuckintheLaventholandHorwathSmallBusinessTaxPlann ingGuide."You'llenduppayingradicallydifferentamountsofincometaxdepen dingontheformyouselect.AndyouroddsofbeingauditedbytheIRSwillchange,t oo."Manyaspectsoftaxplanningarespecifictocertainbusinessforms;someof thesearediscussedbelow: SOLEPROPRIETORSHIPSANDPARTNERSHIPS.Taxplanningforsoleproprietorships andpartnershipsisinmanywayssimilartotaxplanningforindividuals.Thisis becausetheownersofbusinessesorganizedassoleproprietorsandpartnership spaypersonalincometaxratherthanbusinessincometax.Thesesmallbusinesso wnersfileaninformationalreturnfortheirbusinesswiththeIRS,andthenrepo rtanyincometakenfromthebusinessforpersonaluseontheirownpersonaltaxre turn.Nospecialtaxesareimposedexceptfortheself-employmenttax(SECA),wh ichrequiresallself-employedpersonstopayboththeemployerandemployeepor tionsoftheFICAtax,foratotalof15.3percent. Sincetheydonotreceiveanordinarysalary,theownersofsoleproprietorships andpartnershipsarenotrequiredtowithholdincometaxesforthemselves.Inst ead,theyarerequiredtoestimatetheirtotaltaxliabilityandremitittotheIR Sinquarterlyinstallments,usingForm1040ES.Itisimportantthattheamounto ftaxpaidinquarterlyinstallmentsequaleitherthetotalamountowedduringthepreviousyearor90percentoftheirtotalcurrenttaxliability.Otherwise,th eIRSmaychargeinterestandimposeastiffpenaltyforunderpaymentofestimate dtaxes.SincetheIRScalculatestheamountowedquarterly,alargelump-sumpaymentint hefourthquarterwillnotenableataxpayertoescapepenalties.Ontheotherhan d,asignificantincreaseinwithholdinginthefourthquartermayhelp,because taxthatiswithheldbyanemployerisconsideredtobepaidevenlythroughoutthe yearnomatterwhenitwaswithheld.Thisleadstoapossibletaxplanningstrateg yforaself-employedpersonwhofallsbehindinhisorherestimatedtaxpayments .Byhavinganemployedspouseincreasehisorherwithholding,theself-employe dpersoncanmakeupforthedeficiencyandavoidapenalty.TheIRShasalsobeenkn owntowaiveunderpaymentpenaltiesforpeopleinspecialcircumstances.Forex ample,theymightwaivethepenaltyfornewlyself-employedtaxpayerswhounderpaytheirin cometaxesbecausetheyaremakingestimatedtaxpaymentsforthefirsttime. Anotherpossibletaxplanningstrategyappliestopartnershipsthatanticipat ealoss.Attheendofeachtaxyear,partnershipsfiletheinformationalForm106 5(PartnershipStatementofIncome)withtheIRS,andthenreporttheamountofin comethataccruedtoeachpartneronScheduleK1.Thisincomecanbedividedinany numberofways,dependingonthenatureofthepartnershipagreement.Inthisway ,itispossibletopassallofapartnership'searlylossestoonepartnerinorder tomaximizehisorhertaxadvantages.What’smore,enterprisestocarryoutthecorrecttax,theneedfortheadoption ofthefollowingmajorrouteoftransmission.First,reasonablemeansoffinancingoptions.Inaccordancewiththeprovision sofChina'scurrenttaxlaw,corporateinterestpaymentsontheloanwithinacer tainrangecanbepre-taxexpenses,anddividendscanonlybespendingtheafter-taxprofitsofenterpriseexpenses.Fromataxpointofview,appropriatetotheb ankbusinessloansandfinancingbetweenenterprises,ratherthandirectlytot hefund-raisingbenefits.Second,areasonablechoiceoftradingpartners.China'sexistingvalue-add edtaxsystemhasageneraltaxpayersandsmall-scaletaxpayersonthepoints,ch ooseadifferentsupplierobject,thetaxburdenonenterprisesisnotthesame.Forexample,whentheDepartmentofsuppliersofvalue-addedtaxgeneraltaxpaye r,thebusinessafterthepurchaseofgoods,accordingtotheamountoftaxdeduct ionofinputtaxamountofthecorrespondingbalanceafterpaymentofvalue-adde dtax;ifthepurchaseofgoodsforsmall-scaletaxpayers,VATcannotbeachieved Itsnotcontaintheamountofinputtaxdeduction,thetaxburdenmorethanthefor mer.Suchasopeninvoicescanalsobepartofdeduction. Third,"theeasywayout"taxconversion.Enterpriseswillbeconvertedtohigh-taxlow-tax,referstoeconomicactivitiesinthesame,thereareavarietyofrev enueoptionstochoosefrom,thetaxpayerstoavoid"high-taxpoint",choosethe "lowtax"andreducethetaxliability.Themosttypicalexampleofthisistorunn on-taxabletothetaxplanningservices.Fromthetaxpointofview,runmainlytw o:First,thesametaxes,differenttaxrates.Systemssuchassupplyandmarketi ngenterprises,thegeneraloperatingtaxrateis17%ofthemeansofsubsistence ,butalsotheoperatingvalue-addedtaxrateof13%oftheagriculturalmeansofproductionandsoon.Sec ond,differenttaxes,differenttaxrates.Thisusuallyreferstotypesofenter prisesintheirbusinessactivities,bothvalue-addedbusinessproject,thepr ojectalsoinvolvesthebusinesstax.Fourth,thecostofreasonableexpenses.Enterprisesdoesnotviolatetaxlawsa ndfinancialsystemunderthepremiseofthefullcostofthereasonableexpenses ,thatmayoccuronthefullestimatedlossesandnarrowthetaxbaseandreducethe amountoftaxableincome.Countriesallowforcostsincurredintheprojects,su chaswages,respectively,thetotalamountoftaxby2%,14%,1.5%extractsoftra deunionfunds,staffwelfare,staffeducationfundingshouldbesufficienttom entionasmuchaspossibletothewhole.Forsomeofthelossesthatmayoccur,such asbaddebtlosses,businessesshouldbefullyexpectedinthetaxlawasfaraspos sibletheextentpermittedbythecapenoughtoreserve.Thisisinlinewiththena tionaltaxlawandfinancialsystem,canreceivethetaxeffect.Fifth,toreducetaxliability.Factorsthataffectthetaxliabilitytherearet wo,namely,taxbaseandtaxrates,thesmallerthetaxbase,lowertaxrates,taxl iabilityisalsosmaller.Taxplanningcanstartfromthesetwofactorstofindle gitimatewaystoreducetaxliability.Forexample,anenterpriseDecember30,2 005estimatedtaxableincomeamountedto100,200yuan,theenterpriseincometa xliability25050yuan(100200×25%).Ifthecorporatetaxplanning,taxconsul tingfeestopay200yuan,thecorporatetaxableincome100,000(100200-200),incometaxliability27,000yuan(100000×27%),canbefoundbycomparing,fortax planningtopayonly200yuan,6066yuantaxis(33066-27000).Sixth,toweightheseverityoftheoveralltaxburden.Forexample,manyvalue-a ddedtaxplanningprogramshavethegeneraltaxpayerandthetaxpayertochooses mall-scaleplanning.Ifanenterpriseisanon-tax-yearsalesofabout900,000y uanofproductionenterprisesandenterprisestobuythematerialseachyearthe priceofnon-value-addedtaxof70millionorless.Thecompany'saccountingsys tem,theconditionsidentifiedasthegeneraltaxpayers.Ifthatisthegeneralt axpayer,thecompany'sproductsarevalue-addedtaxrateappliesto17%capital gainstaxliability34,000yuan(90×17%-70×17%);I fitissmall-scaletaxpay ers,therateis6%,5.4VATliabilitymillion(90×6%)>3.4million.Therefore, fromtheperspectiveofvalue-addedtaxgeneraltaxpayershouldbeselected.Bu t,infact,althoughsmall-scaleVATtaxpayerspay20,000yuan,buttheinputtaxamountof119,000yuan(70×17%) ,althoughitcannotoffsetthecosts,therebyincreasingthecostof119,000yua n,theincometaxreductionof2.975million(11.9×25%),thanpaya20,000yuano fvalue-addedtax.Therefore,thebusinesstaxplanningintheselectionofprog rams,notonlytolookinacertainperiodoftimewatchingtheprogramontaxless, andtoconsiderbusinessdevelopmentgoals,tochoosetoincreasetheiroverall revenueprogram.Seventh,takefulladvantageofpreferentialtaxationpolicies.Fortaxpayers ,theuseoftaxincentivesfortaxplanningfocusesonhowtherationaluseoftaxp oliciesandregulationsshallapplytothelowerormorefavorabletaxrates,awe ll-plannedproductionandoperationactivities,theactualtaxburdentoamini muminordertoachieveFestivaltaxeffect.Forexample,accordingtoChina'sLa woftheStateCouncilforapprovalofhigh-techindustrialdevelopmentzoneoft hehigh-techenterprises,sincetheproductionfromthefiscalyearincometaxe xemptionfor2years.To-businessuseofwastewater,wastegas,wasteresiduean dotherwasteasthemainrawmaterialsforproduction,5yearsintheincometaxre ductionorexemption.Inaddition,tosupportagricultureandthedevelopmento fUNESCOWeiinvestment,countrieshavedifferenttaxincentives.Businessope ratorsshouldrefertopolicy,comparingtheinvestmentenvironment,investme ntincome,investmentrisksandotherfactors,decidedtoinvestintheregion,i nvestmentdirection,aswellasinvestmentprojects,areasonabletaxplanning ,inordertoreducethecorporatetaxburden.Itshouldbenotedthattheabove-mentionedmethodstaxpayersusetax,ontheone hand,itisnecessarytocomplywiththecharacteristicsofenterpriseproducti onandmanagement,overallplanning,comprehensiveconsiderationandcannotc aterforallkinds;Ontheotherhand,tokeeplearningandunderstandingofnatio naltrendsandpoliciesontaxreformmeasuresamendmentsandadjustments,accu ratelygraspthelimitsoftaxregulationsandpolicies,in-depthstudyofthere levantprovisionsoftaxlawstopreventtaxandgiverisetootherproblems.税收筹划税收筹划涉及的设想和实施各种策略的目的是尽量减少对一定时期内支付的税款。
关于跨国公司纳税筹划的文献综述
集抵免 制度 能限制企业在 国外 的投资而鼓励更多 的国内投资 ， 四 、国 内研究 与发展现状 国 一 纳税 筹划 定义和 内涵 外关联企业利用贷款 、并购、跨国利润转移等手段规避 因发放股 （ ） 这一 阶段 主要 处于 上世纪九十年代 ， 我国最早有 关纳税 筹划 利带来的税收。 的专著是 中央 民族 出版社 出版 的 《 纳税 的技 巧一 合理 的避税方 （ ） 税筹划与企 业战略的融合 二 纳 《 税 ）（９４是公认的我国第 从上世 纪末 以来是纳税筹 划在 发达国家疾速发展的阶段 ， 纳 法》。唐腾翔 、唐 向撰写的 （ 务筹划 ） １９ ） 部系统介绍纳税 筹划 的著 作 ， 明确地指 出纳税筹划是 “ 在法律 税筹划 已经成为企业制定经营和发展战略的一个重要组成部分。 规定许可的范围内 ， 通过对经营 、投资、理财活动的事先安排 ， 尽 美 国人迈伦 ・ 斯科尔斯 、马克 ・ 沃尔夫森 （９２主要讲述如何将 １９ ） 可能地取得节税 的税收利益”。于中一（９５ １９ ） 认为纳税义务人为 美 国税 收制度 与企业 战略结合 到公 司的具体决策 中， 中结合财 其 是企业财务管理的一个组成 务会计和微 观经济学对公司并购 、剥离、国际扩张等诸 多内容进 了达到避 税 目的而进行的税 收规划 ， 部分 。此时期的理论著作大多数是机 械地 翻译 国外的学 术成果 ， 行 了详细的静态和动态分析 。Ｊｈ ￣ ｅｒｎ ｅ１９ ） ｏ ｎ ｌＴ ｒａ ｃ（９ ９从资本结构 没有区分纳税筹划与避税的差异 ， 也不具有现实可操作陛。 角度出发 ， 研究 了企业账面收益与税收之 间的关系对股票造成的 在理论界把纳税筹划和避税混为 一谈 的时期 ， 纳税筹划 的发 影响。Ｍｉ ａｌ ００采用实证方法检验 了资本结构和财务政策变 ｃ ｅ（ ０ ） ｈ ２ 展非常缓慢 ， 征税机 关、纳税 人都对其不甚 关注 ， 甚至是抵触的 ， 化对税 收会计规则 的影响 ， 即在税率变 化时 ， 公司如何实现税 收筹 这与 国外普遍热衷于纳税筹划的现象大相径庭 。究其原 因， 国 我 划 目标 和财 务 目标 。 政府一直 以来都不提倡 “ 避税” ， 并致力于通过完善税法 、堵塞 （ ） 三 不对称信息 下的纳税 筹划
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
本文档包括改专题的：外文文献、文献综述一、外文文献文献信息标题：Effect of Tax Planning on Firms Market Performance: Evidence from Listed Firms in Ghana 作者：Kawor, Seyram; Kportorgbi, Holy Kwabla期刊：International Journal of Economics and Finance第6卷，第3期，页码：162-168，2014年Effect of Tax Planning on Firms Market Performance: Evidence from Listed Firms in GhanaKawor, Seyram; Kportorgbi, Holy KwablaAbstractThe study sought to ascertain the level of tax planning of firms and to explore the relationship between tax planning and firms' market performance. The study used 22 non-financial companies listed on the Ghana Stock Exchange over a twelve year period from 2000. The longitudinal correlative designed was used. The results indicate that that firms' tendency to engage in intensive tax planning activities reduces when tax authorities maintain low corporate income tax rates. Secondly, tax planning has a neutral influence on firms' performance. This finding challenges the general perception that every cedi of tax savings from tax planning reflect in the pocket of investors. It is concluded that investors must institute systems to ensure tax planning benefits reflect significantly in their pockets.Keywords: Ghana stock exchange, tax planning, market performance, longitudinal correlative design, investors1. IntroductionOver the years and throughout the world, the history of taxation brings out one fact; that taxes are coercive in nature and therefore economic units which are assigned the tax liability never wholly intend to bear the actual tax burden (Commonwealth Association of Tax Administrators (CATA), 2007). Economic units, more specifically, corporate bodies are always adopting ways to minimise, postpone, or avoid entirely, the payment of tax. The attempts by the economic units to reduce, postpone or avoid tax payment can be legal or illegal. The legal means is called tax planning while the illegal means is called tax evasion. The dire consequence of tax evasion makes it an unattractive option for listed companies (Murphy, 2004).The practice of tax planning dates back to 1947 when learned judge Hand, in the case Commissioner v Newman, held that there is nothing sinister in arranging ones affairs so as to keep taxes as low as possible. Hoffman's (1961) tax planning theory supports this argument. According to Hoffman, it is a necessity for firms to understand the prevailing tax laws and apply the laws in a manner that ensures the firms minimise their tax exposure. Hoffman posits that it makes no economic sense to pay more tax than what the law demands. Scholes and Wolfson's (1992) tax planning framework also underscores the need for corporate bodies to engage in tax planning. According to Scholes and Wolfson, a successful company is the one that is properly attuned to its tax environment.International governmental organizations, such as CA TA (2009), suggest that corporate bodies in Ghana, especially the large entities, engage in complex tax planning activities. Research by civil society groups such as Christian Aid (2008), Action Aid (2011), and Dan Watch (2011), confirm this assertions made by the Domestic Revenue Division. The missing element in the findings is thequantitative expression of the tax planning activities of the firms.The traditional thinking is that firms that derive maximum benefit from tax planning perform better than those that do not plan their taxes (Murphy, 2007). From the empirical perspective, tax planning is positively associated with firms' performance. For instance, Desai and Hines (2002); Chen, Chen, Chen and Shelvin (2010) reported positive association between tax planning savings and firm performance. The argument is that tax represents cost of doing business, and any action that has the potential of minimising tax cost reflects in higher firm performance. This argument presupposes that tax planning cost and risk does not exceed the savings from the planning.Few studies in the UK dispel the traditional relationship between tax planning and firm performance. While admitting that tax planning has a positive association with accounting performance, Desai and Dharmaphala (2007) reported that tax planning has a neutral association with market performance. Indeed Abdul-Wahab (2010) found a negative association between tax planning and firm performance. Kportorgbi (2013) suggested that corporate governance strength plays a mediating factor in the tax planning-firm performance relationship.A study of the effect of tax planning savings on firms' market performance is crucial for all stakeholders in the emerging security markets such as the Ghana stock Exchange. In fact each possible relationship has a unique implication for the players. For instance, a positive association implies that tax planning produces a win-win situation for both management and shareholders (investors). A negative association connotes that tax planning benefits may not eventually trickle to the pocket of the shareholder. Indeed, a negative association may be an indicative of the existence of agency problem, where management is inclined to pursue tax planning to enhance their own lot rather than advancing the interest of the investor. Where a neutral association is established, it will invoke a follow up study on the possible factors that could influence the relationship either positively or negatively. Secondly, the study is necessary to inform tax planning agents and investors on the dynamics of tax planning1.1 Objective of the StudyThe primary objective of this study is to explore the relationship between tax planning savings of firms listed on the Ghana Stock Exchange and firm market performance. The study also seeks to examine the simultaneous influence of other firm specific variables on the tax planning-market performance relationship.1.2 Tax Planning Intensity of Firms in GhanaCommentators on tax behaviour of firms in Ghana paint a picture that suggests that large firms engage in tax planning activities. For instance CATA (2009) posits that Ghana Revenue Authority lost seventy-four million pounds between 2005 and 2007 to the European Union (EU) in tax revenue as a result of tax avoidance by several multinational companies. Murphy (2004) also reported that firms have complex gamut of arsenals to reduce their tax burden. The reports indicate that the tax avoiding mechanism of firms are largely allowed by the tax laws. There are also indications that the firms take advantage of the loopholes in the tax laws to derive unintended tax benefits. The avenues for tax planning usually revolve around locational reliefs, industry-specific concessions and capital allowance provitions. Others are time variables and entity variables.Most of the reports are not precise in their estimation of the benefits that firms achieve through tax planning. The lack of precision in measuring tax planning intensity is largely attributed to the insufficient reporting of issues of taxation by firms. Aside the mandatory disclosures to tax authorities, firms are reluctant in disclosing much on tax behaviours. This is due to the perceivedthin line that exist between tax planning and tax evasion. Listed companies, however, provide provide adequate information necessary to estimate the tax savings of the firms. This is made possible by virtue of the financial reporting guidelines provided by the security exchange commision.2. Review of Related LiteratureThis section is subdivided into theoretical review and empirical review. The theoritical review encapsultes the Hoffman's (1961) tax planning theory. Three main empirical studies are reviewed. They are Desai and Hines (2002), Desai and Dharmaphala (2009) and Abdul-Wahab (2010).2.1 Hoffman's Tax Planning TheoryAccording to Hoffman (1961) tax planning seeks to divert cash, which would ordinarily flow to tax authorities, to the corporate entities. Tax planning activities are desirable to the extent that they reduce taxable income to the barest minimum, without sacrificing accounting income. The theory is premised on the fact that firms tax liability is based on taxable income rather than accounting income. The idea is thus to intensify activities that reduce taxable income but has no indirect relationship on accounting profit. The theory thus recognised a positive association between firm tax planning activity and firm performance.Hoffman (1961) also recognised the role of tax cost in the tax planning activities. The theory thus provided that the positive association between tax planning and corporate performance is on a basic assumption that tax benefits from the tax planning exceed tax cost. The scope of the Hoffman's tax planning theory does not address the dynamics of tax planning and market performance. As capital markets develop and the separation of ownership and control of corporate bodies become well-spread, the need for a comprehensive tax planning theory is imperative. This need is rather addressed through the empirical perspective than through theoretical perspective (Inger, 2012).2.2 Empirical Review and Development of HypothesisDesai and Hines (2002) provide evidence on firm performance and tax planning behaviour of firms. Again, the study investigates the relationship between tightening of tax systems and market value of firms. The study was based on 850 listed US firms. The study sample was purposively selected to reflect the characteristics desired by the researchers. The study was cross sectional and the data relates to year 2000. Correlative-description design was adopted. Simple regression and t-tests were used to establish the relationships. Desai and Hines established that intensive tax planning is associated with higher firm performance. On the other hand, the study reported that tightening of the tax system is positively associated with higher market performance of firms. The findings of Desai and Hines (2002) are similar to that reported by Chen, Chen and Chen (2010). Desai and Dharmapala (2007) provided a comprehensive study that incorporates tax planning, corporate governance and firm performance. The study used 4,492 observations on 862 firms over the period 1993 to 2001. This panel data was drawn from the Compustat and Execucomp databases, merged with data on institutional ownership of firms from the CDA/Spectrum database. Firms' performance is measured using Tobin's q and governance quality is proxied by the level of institutional ownership. Tax planning is measured by inferring the difference between the income reported to capital markets and tax authorities (the book-tax-gap). Two analysis models were adopted-the OLS model and the IV estimation model. The OLS results shows that the average effect of tax planning on corporate performance is not significantly different from zero. In other words, there is no relationship between tax planning and firm performance. The study howeverreports a positive association between tax planning savings and performance for well-governed firms. Desai and Dharmapala (2007) thus concluded that corporate governance mediates the tax planning-firm performance relationship. The IV estimate shows a higher effect of corporate governance on firm performance.Abdul-Wahab (2010) provides a result that differs from the findings of Desai and Hines (2002), Desai and Dhamarpala (2009), and Chen, Chen, Chen and Shelvin. Abdul-Wahab's (2010) study sought to establish a relationship between tax planning savings of firms and their value. The study simultaneously investigates the moderating influence of corporate governance. Abdul-Wahab's study employed 240 firms listed on the London stock exchange from 2005 to 2007. Tax planning was proxied by the difference between the effective tax rate of the entities and the applicable statutory tax rates. Self-constructed governance index was constructed using corporate governance mechanisms. Firms' value was represented by the Tobin's Q. The data was analysed using panel regression analysis model. As a check, the OLS model was also used.The results indicate a negative relationship between firm value and tax planning activities. Abdul-Wahab (2010) explains the relationship with reference to tax planning cost and risk. The study suggested that tax planning cost and risks associated with tax planning have the potential of derailing the benefits that should have accrued to shareholders. The researcher maintains that as tax planning activities increase, the tax costs and risks outweighs the benefits.Due to the diversity of the relationships found between tax planning and firms' market performance, it is right to develop a null hypothesis as:H1: There is an association between tax planning and firms' market performance.It is unreasonable to suggest that tax planning is the only determinants of firm performance. Baring the existence of multicollinearity between (among) the explanatory variables, sales growth, financial leverage, firm size and age of the firms will be introduced into the regression models. Several studies, including Desai and Hines (2002), Desai and Dharmaphala (2007), Abdul-Wahab (2010) reported positive association between firm performance and sales growth, firm size and financial leverage. It is thus clear to develop the null hypothesis that:H2: Firm performance and sales growth and firm size are positively associated.Firms' age, according to Desai and Dharmapala (2007) and Abdul-Wahab (2010) has a negative association with market performance of firms. This gives rise to the third null hypothesis that:H3: Firms age and financial leverage are negatively associated with firms' market performance. 3. MethodologyLongitudinal correlative design is adopted for the study. Longitudinal design is essential if the same research entities sampled in a cross section are then re-sampled at different times (Creswell, 2009; De Vaus, 2001). According to the authors, the design helps overcome limitations associated with the "snap shot" approach of cross sectional designs.The study population comprises all non-financial firms listed on the Ghana stock exchange. As of June 2013, twenty-three (23) out of thirty-five (35) firms listed on the Ghana Stock Exchange were non-financial companies. Financial companies are excluded from the population. Previous researchers posit that the financial sector is a highly regulated sector and as such regulations blur the relationship that exist among the variables to be studied (O'Hamon & Taylor, 2007; Desai & Dharmapala, 2009; Abdul-Wahab, 2010).The study uses a panel data for twelve-year period, from 2000 to 2011. Data for the study is collected from the database of the Ghana Stock Exchange. Panel regression model is adopted fordata analysis and the Ordinary least square (OLS) been the method of regression.The regression model is summarized as: (1)α = (alpha) shows the constant affecting net profit margin on corporate tax.Tobin's q (market performance) = (market capitalization of entity) ÷ (book value of shareholders fund).Tax savings = Statutory tax rate -Effective tax rate.Statutory tax rate = flat rate as mandated by the Ghana Revenue Authority.Effective tax rate = Corporate income tax expense/profit before tax.Sgrowth (sales growth) = (Previous Sales revenue -Current sales revenue) ÷Previous sales revenue.Fsize (firm size) = Natural log of firm's total assets.fLev (Financial leverage ) = Long term debt/shareholders fund.Age (Age of firms) = log(the difference between the year of establishment and years of observation).4. Results and DiscussionFigure 1 and Table 1 presents the descriptive statistics for two key variables, namely tax planning of firms and market performance over the twelve year period.Like the statutory rate, tax savings of firms show a decreasing trend. As tax authorities take steps to reduce the tax burden on firms, the leakages in tax revenue due to firms tax planning activities reduce. From figure 1, the statutory tax rate reduced from about 32% to 25%. Tax savings of firms reduced also from 15% to 8% by 2011. That is to say each percentage point decrease in the statutory rate leads to a corresponding decrease in firms' tax planning savings.The policy implication of this finding is two-fold. Firstly, the notion of increasing tax rate in order to rake in more tax revenue may not hold. As tax rates increased, the motivation of firms to deny the state of revenue through intensified tax planning machinery is enhanced. Secondly, as the tax rate is decreased, the net benefit of planning tax is derailed. The way forward for tax revenue optimisation is to maintain lower tax rates and drag more firms into the tax net.Table 1 provides the market performance of the firms over the twelve year period.The farther the Tobin's Q is from unity, the better the company performance. From Table 1, all the company groups recorded an average score higher than 1.00. The overall average score is 1.78 (the median represents the average as skewness is negative). The high average market performance by the firms is driven by only the mining sector and the manufacturing companies. All the remaining classes of companies recorded lower than the average score.This finding confirms the observation of business persons in Ghana that business climate in Ghana gives unmatched advantage to the mining sector. The service sector records the lowest market performance. This raises a major concern as the sector is the major contributor to gross domestic product (GDP) in Ghana. Another sector to watch out for is the oil and gas. This sector has the most recent history. It was expected that the high hopes of investors in the sector after the discovery of oil in commercial quantities in Ghana would have positive influence on the performance. It is expected that the sector will be one of the major drivers of firms' market performance in the future.Table 2 provides correlation results on the variables. This result is essential for at least two reasons. Firstly, it shows basic association between the dependent variable (market performance) and theindependent variable. Secondly, it shows if the "so-called" independent variables are indeed independent. In other words, it tests the multicollinearity status of the independent variables. From Table 2, the correlation co-efficient between tax savings and Tobin's Q is 0.112. This is however significant at 0.097. This significant level is compared with the default alpha of 0.05. As rule of thumb, we reject the null hypothesis if the actual significant level is higher than the expected alpha and do not reject if the actual significant is less than the expected alpha. In this instance p-value of 0.097 is greater than the expected alpha of 0.05. The null hypothesis that:H1: There is an association between tax planning and firms' market performance is rejected.The correlation results do not suggest causation but gives an indication of association between the variables. The "no relationship" finding between tax planning and firms' market performance supports the reports of Desai and Dharmapala (2007) but differ from the findings of Desai and Hines (2002) and Abdul-Wahab (2010). The findings suggest that although savings from tax planning reflect in higher profit after tax, it does not necessarily reflect in the pocket of shareholders. This finding ignites studies aimed at uncovering factors that mediate the tax planning-firm performance relationship. Indeed, it might be the reasons behind the works of Desai and Dharmapala (2007), Desai and Dharmapala (2009) and Abdul Wahab (2010).Another finding in table 3 is the relationship between market performance (proxied by tobin's Q) and the firm specific variables. Sales growth and firm size shows positive and significant association with firms' market performance. On the other hand financial leverage and age of the firms shows a negative association with firm performance. The findingsWe do not reject the null hypotheses (H2 and H3) stated asH2: Firm performance and sales growth and firm size are positively associatedH3: Firms age and financial leverage are negatively associated with firms' market performance. Further Table 3 gives an indication that multicollinearity among the independent variables does not exist. The rule of thumb is that if the correlation coefficients between any two of the variables is above 0.50 (either positive or negative), those two variables are multi-correlated and should not be simultaneously included in the regression model. From Table 3, this condition does not exist. The variables can be regressed against the dependent variables.Table 3 shows the regression of Tobin's Q (proxy of firms' market performance) and all the independent variables.The adjusted R2 connotes that the five independent variables explain 55.3% of the variations in the dependent variable. The model is significant at 0.0001. This is a strong indicator that the variables used in the model have sufficiently explained the firms' market performance.The regression results found a relationship that is largely consistent with the correlation results shown in table 3. The results affirm that tax planning plays an insignificant role in the determination of firms' market performance. Again this supports the agency theory's argument that it not all actions of management that help achieve the wealth maximisation objective of management. From the results sales growth and the financial leverage are the two most influential variables. Firms should maintain low financial leverage ratio and pursue sales growth strategies in order to boost their market performance.5. ConclusionsThe study sought to ascertain the level of tax planning of firms and to explore the relationship between tax planning and firms' market performance. The study used 22 non-financial companies over a twelve year period from 2000. The longitudinal correlative designed was used. Thefollowing conclusions are reached.Firstly firms' tax savings decrease as tax authorities reduce the statutory corporate income tax rates. This indicates that leakages in tax revenue as a result of intensive tax planning of firms reduce when tax authorities maintain low corporate income tax rates.Secondly, tax planning has a neutral influence on firms' performance. This finding challenges the general perception that every cedi of tax savings from tax planning reflect in the pocket of investors. Agency problem is much present in the issue of tax planning. The efforts of management to reduce tax burden of firms benefit other stakeholders rather than shareholders. There may be other factors that could ensure that substantial benefits of tax planning accrue to shareholders. Some researchers arguably, root for good corporate governance. This falls outside the scope of this study.Finally, sales growth, firm size, age of firms, financial leverage and tax planning simultaneously play a major role in determining firms' market performance. These variables explain 55.3% of the variations in firms' market performance. Sales growth and financial leverage are the two most influential variables that determine firm market performance.References二、文献综述企业纳税筹划文献综述摘要：20 世纪以来并购已经成为企业快速扩张和整合的重要手段之一。